00:00 Speaker A
First up, stock futures in the green in the US this morning continuing that modest recovery, as investors look for dip buying opportunities while still awaiting clarity on how US trade policies could play out. Warnings from Wall Street strategists are piling up on the dow order outlook for stocks. BlackRock downgraded US equities to neutral from overweight on a three month horizon. Meantime Goldman Sachs saying the selloff could well turn into a longer lasting cyclical bear market.
00:34 Speaker B
Plus, President Donald Trump threatened to slap China with an added 50% import tax, while confusion reigned about how to gain exemptions from his sweeping global tariffs. China pledged to retaliate against the US at all costs, as it stepped up its efforts to support its local market. However, some nations are coming to the negotiating table. Treasury Secretary Scott Benson said that Japan will likely get priority in the talks due to its quick response and that the US has a lot of history with Japan, as a military and economic ally.
01:16 Speaker A
And on the earnings front, Walgreens reported quarterly profit that exceeded Wall Street’s expectations, marking a strong performance and what’s likely one of its last quarters as a public company. The results are welcome news for investors who’ve been concerned about the ability of Walgreens to compete, amid increasing competition and declining insurance payments for prescription drugs. Meantime, Levi is maintaining a full-year outlook that excludes the impact from sweeping US tariffs that are poised to hike costs of clothing around the globe. The apparel company said its guidance for 2025 assumes quote “no significant worsening of macroeconomic pressure on consumers, supply chain disruptions, increased tariffs or similar factors.