Stocks are sinking and the VIX, a measure of volatility, is spiking, off the back of weak jobs data and new tariffs. Yet Wall Street is still bullish.
Why it matters: Strategists who spoke with Axios believe the long-term upside for the stock market outweighs any near-term weakness and suggest buying dips, especially in tech.
The Corporation for Public Broadcasting said on Friday it will begin winding down operations, following Congress' vote to cut nearly $1.1 billion in federal funding.
Why it matters: The decision is expected to severely impact local member stations of PBS and NPR that depend on federal support to operate.
The Trump administration's dozens of reciprocal tariffs will start this month after drawn-out delays.
Why it matters: The tariffs — ranging from 10% to 50% — mark another escalation in President Trump's trade war, as the economy is showing signs of slowing.
The new tariff rates President Trump announced late Thursday are the highest in nearly a century and will cost the average family about $2,400 this year, the Yale Budget Lab said.
Why it matters: Combined with the surprisingly weak jobs report Friday morning, it's the latest sign that American households face a much more difficult economy in the months to come.
Tariff deadline day has arrived. The administration celebrated Thursday night by publishing a list of about 70 countries and their respective tariff rates, which are set take effect next Thursday.
Why it matters: As stocks continue hitting record highs, beneath the surface, tariff policy is reshaping market winners and losers. Investors looking to beat the index are racing to determine where the pain and opportunity will hit.
If you want a job safe from AI, consider becoming a trader. Robinhood's CEO tells Axios human traders will not be replaced by AI in the foreseeable future.
April's "Liberation Day" was about President Trump trying to impose a new global trade system. Thursday's tariff orders were effectively a reset to create a somewhat more practical regime.
Why it matters: Trump scrapped most of the highest levies, and the erroneous formula behind them. In the process, he settled on a framework that most major partners seem willing to grudgingly accept.
Tech companies are finally generating real revenue from their AI investments, but they're pouring that money — and more — back into data centers in a bet that the AI boom is just getting started.
Why it matters: Investors will want to see those massive investments not only generate revenue, but profits too.
President Trump on Thursday confirmed imports from most countries will face a tariff rate of 10%, while raising levies on Canada to 35% and lowering rates on many other countries.
Why it matters: The baseline rate is unchanged from the global duties Trump first set in April, and will come as a relief given his recent hints it could double.
President Trump's tariffs order for countries yet to strike a trade deal with the U.S. went into effect just after midnight on Friday, though most levies aren't due to start until Aug. 7.
Why it matters: While countries like Mexico struck trade deal extensions ahead of Trump's deadline, others face steep tariffs. The president increased Some Canadian goods imported to the U.S. on Thursday to 35%, effective 12:01am Friday ET.
Why it matters: Centuries after they were considered medicinal, mushrooms are today's go-to "functional" food — with a brain-boosting, sustainable aura.
