Stocks were moving lower to end the week as tariff concerns took center stage heading into the long holiday weekend. Prior to two social media posts from President Trump, the NASDAQ and S&P 500 looked like they might eke out a small gain for the week.
Investors (and the bond market) are also focusing on the contents of the “big, beautiful bill” that passed the House of Representatives. Senate approval of the bill in its current form looks unlikely. However, for now, these headlines look like more bricks in the wall of worry investors are climbing.
Next week will be a short trading week, ending with the latest reading on the Personal Consumption Expenditures (PCE) index. It’s likely to show cooling inflation, which may calm markets. Oh, and NVIDIA Corp. (NASDAQ: NVDA) reports after the market closes on Wednesday.
