Chris Lau
Breaking News Writer at CNN
Breaking news reporter at @CNN | Formerly @SCMP | Views are my own
Articles
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1 day ago |
baystreet.ca | Chris Lau
When the U.S. initiated a trade war through tariffs, it hurt global economic growth. After consumers spent more to avoid the tariff, that tailwind is gone. This will hurt demand for aluminum, steel, iron ore, and copper. Cleveland-Cliffs (CLF), whose stock lost 60% in the last year as of last week, is the riskiest iron ore producer. In the first quarter, Cliffs posted a $0.92 loss (non-GAAP). Revenue fell by 11% Y/Y to $4.63 billion.
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1 day ago |
baystreet.ca | Chris Lau
When Pepsi (PEP) shares continued their downtrend in the last week, it suggested a shift in consumer behavior. Krispy Kreme Donuts (DNUT) and Wendy’s Company (WEN) are at the highest risk as inflation and tariffs hurt consumer spending. In the first quarter, Wendy’s posted a 2.1% Y/Y drop in revenue, to $523.5 million. It required opening 68 net new restaurants to target a full-year net unit growth of 2% to 3%. For the year, Wendy’s expects global sales of between negative 2.0% and no growth (0%).
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1 day ago |
baystreet.ca | Chris Lau
Investors might mark Monday, May 12, 2025, as the reversal for the downtrend in drug stocks. When the White House targeted an up to 80% cut in drug prices, AbbVie (ABBV), Pfizer (PFE), GSK, and Regeneron (REGN) shares fell. The sell-off reversed intraday when the U.S. President clarified that drug makers would not see their profits fall. That implied that plan providers like Cigna (CI) or UnitedHealth (UNH) would face lower profitability.
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1 day ago |
baystreet.ca | Chris Lau
When the U.S. initiated a trade war through tariffs, it hurt global economic growth. After consumers spent more to avoid the tariff, that tailwind is gone. This will hurt demand for aluminum, steel, iron ore, and copper. Cleveland-Cliffs (CLF), whose stock lost 60% in the last year as of last week, is the riskiest iron ore producer. In the first quarter, Cliffs posted a $0.92 loss (non-GAAP). Revenue fell by 11% Y/Y to $4.63 billion.
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1 day ago |
baystreet.ca | Chris Lau
U.S. tariff rates on China are relative. At the height of the tariff trade war, the U.S. and China kept escalating tariff rates. At the peak, China faced 145% in tariffs. Over the weekend, the two countries agreed to temporarily lower tariff rates. Chinese import tariffs will fall from 145% to 30%, while China will impose tariffs of 10%, down from 125%. In response to the 90-day agreement, the Dow Jones added 1,160.72 points (+2.81%).
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