that offered little clarity on how the U.S. economy is managing through
That’s counter to a growing number of companies, which have recently said tariffs and uncertainty about the economyPresident Donald Trump has launched stiff tariffs against trading partners, only to delay or roll many of them back. Investors are hopeful that Trump will eventually lower his tariffs after reaching trade deals with other countries, but that’s not a certainty.
Target and Home Depot rival Lowe’s will report their latest results on Wednesday.On the winning side of Wall Street was D-Wave Quantum, which jumped 25.9% after releasing its latest quantum computing system. The company says it can solve complex problems beyond the reach of classical computers.All told, the S&P 500 fell 23.14 points to 5,940.46. The Dow Jones Industrial Average dipped 114.83 to 42,677.24, and the Nasdaq composite dropped 72.75 to 19,142.71.
In the bond market, the yield on the 10-year Treasury edged up to 4.47% from 4.46% late Monday. The two-year yield, which more closely tracks expectations for action by the Federal Reserve, edged down to 3.96% from 3.97%.Concern still remains that Trump’s tariffs could push the U.S. economy into a recession, even if it’s held up OK for the time being. If a recession were to hit, the U.S. government may have less room to offer support for the economy through big spending plans or direct stimulus checks to households than in prior downturns. That’s because the U.S. government’s debt is so much higher now, and it could be set to get even bigger with
If the U.S. government can’t offer as much fiscal support for the economy, that could make the next recession deeper and last longer, according to James Egelhof, chief U.S. economist and other strategists at BNP Paribas. That could put more pressure on the Federal Reserve to prop up the economy by itself through lower interest rates.
Other central banks around the world have already begun cutting interest rates.Gianna Young, 7, right, and Isaac Young, 5, pose for a photo on their farm before going to vote with adoptive parents Mike and Erin Young on Election Day, Tuesday, Nov. 5, 2024, in Sunbury, Ohio. (AP Photo/Carolyn Kaster)
Gianna Young, 7, left, Isaac Young, 5, center, and Lucas Young, 8, look at books in the back seat of the truck for the trip to vote with adoptive parents Mike and Erin Young on Election Day, Tuesday, Nov. 5, 2024, in Sunbury, Ohio. (AP Photo/Carolyn Kaster)Gianna Young, 7, left, Isaac Young, 5, center, and Lucas Young, 8, look at books in the back seat of the truck for the trip to vote with adoptive parents Mike and Erin Young on Election Day, Tuesday, Nov. 5, 2024, in Sunbury, Ohio. (AP Photo/Carolyn Kaster)
“Educating our kids why voting for leaders who honor and protect life is very important,” said Erin, who homeschools the children. She notes that she and her husband were told one of their children was born after the child’s biological mother took abortion medication that did not work.The Young children from left, Isaac, Lucas, and Gianna, attend the Ohio March for Life with their mom, Erin Young, at the Ohio Statehouse in Columbus, Ohio, Friday, Oct. 6, 2023. All three children are adopted. (AP Photo/Carolyn Kaster)