Michael Saylor‘s Strategy Inc. (NASDAQ:MSTR), formerly MicroStrategy, was hit with a lawsuit, specifically after adopting the new accounting rules of reporting cryptocurrency assets on its financial statements.
U.S. stock futures were slightly lower on Tuesday after ending largely flat on Monday. Futures of major benchmark indices were trading lower in premarket.
The sharp drop came after U.S. importers began delaying or canceling shipments coming from China as Donald Trump’s 145% tariffs on Chinese goods came into effect.
The brokerage believes the S&P 500's upside through the 6,100 mark depends on continued reacceleration in earnings revisions, as interest rate relief remains elusive.
The sportswear company has laid off some staff in its strategic enterprise and corporate functions departments, and outsourced some of the work, according to Bloomberg News.
Dimon noted that the full impact of Trump’s tariffs on the economy is not apparent yet, even as some analysts expressed optimism about the outlook for U.S. equities.
U.S. stocks trimmed early-session losses by midday Monday, as investors showed limited concern after Moody's downgraded U.S. sovereign credit from Aaa to Aa1, effectively stripping the world's largest economy of its last top-tier credit rating.
According to Dalio, Moody’s downgrade only focuses on the government’s capacity to repay its debt, not the risk of its being able to print more money to repay that debt.
Morgan Stanley’s Wilson noted that the corporate earnings season has shown no major impact due to Trump’s tariffs, and a slew of recent profit upgrades is another green sign.
Jeremy Barnum also said that the combination of inflation and large fiscal deficits may constrain the available policy responses in ways that further increase the risk.
