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  • Apr 02, 2025

Fed's Kugler says tariffs could touch off more prolonged inflation

WASHINGTON (Reuters) -Rising tariffs in the U.S. could feed into more prolonged inflation than might be expected, Fed Governor Adriana Kugler said on Wednesday, pushing back on views that prices would only rise on imported goods. "There may be reasons why tariffs have more prolonged effects" than simply causing a one-time jump in the price of imported goods, Kugler said. New tariffs already imposed by President Donald Trump, for example, target intermediate goods like aluminum and steel.

  • Apr 02, 2025

Why Is Tesla (TSLA) Stock Rocketing Higher Today

Shares of electric vehicle pioneer Tesla (NASDAQ:TSLA) jumped 5.6% in the afternoon session after Politico reported that Elon Musk may soon step down from his position at the Department of Government Efficiency, indicating a renewed focus on his business ventures, especially Tesla.

  • Apr 02, 2025

Trump import taxes could fall heaviest on Midwest and Southeast, Richmond Fed says

New import taxes imposed or potentially in the offing from the Trump administration could raise the average effective tariff rate on goods coming into the U.S. from the current 2.2% to around 17%, while posing "widespread disruptions" focused on manufacturing industries in Midwestern and Southern states, a new analysis from the Richmond Federal Reserve has concluded. Some working estimates of the result of tariffs President Trump imposed in 2018 and 2019 were a net loss of jobs and output to the U.S. economy, the authors noted, with the current more aggressive set of tariffs risking damage also. "Ultimately, the proposed tariffs may raise input costs, disrupt supply chains and result in higher consumer prices, potentially outweighing any targeted employment gains in protected industries," Richmond Fed economists including bank vice president Sonya Waddell and senior economist Marina Azzimonti wrote.

  • Apr 02, 2025

Why nCino (NCNO) Stock Is Nosediving

Shares of bank software company nCino (NASDAQ:NCNO) fell 34.3% in the pre-market session after the company reported weak fourth quarter 2024 (fiscal 2025) results as its revenue and EPS guidance for next year fell short of Wall Street's estimates. The quarter was underwhelming, with sales roughly in line with expectations, while earnings missed by a wide margin. The results revealed a continued struggle to turn a profit and manage cash burn, while the guidance suggested a sharp slowdown in growt

  • Apr 02, 2025

Summers Says Trump Tariffs to Impose Oil-Shock Type Economic Hit

(Bloomberg) -- Former Treasury Secretary Lawrence Summers said the Trump administration’s looming tariff hikes are set to impose an oil crisis-like shock to the economy that shrinks its productive capacity — boosting both prices and unemployment.Most Read from BloombergMetro-North Is Faster Than Acela on NYC-New Haven Route After Signal UpdatesLondon Clears Final Hurdle for More High-Speed Trains to EuropeWhat Frank Lloyd Wright Learned From the DesertLocal Governments Vie for Fired Federal Work

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