“What ended up coming up on Friday, which people should know, is that the jobless rate and numbers were disappointing.” – 02:12
Peter Tuchman, Senior Floor Trader at TradeMas, joins Remy Blaire at the New York Stock Exchange to discuss the current state of the U.S. stock market, which has started the month on a negative note due to a weak jobs report and new tariffs from the Trump administration. The unemployment rate has ticked up to 4.2%, and nonfarm payrolls have missed expectations, leading to downward revisions for previous months.
Peter shares his insights on the market’s volatility and the factors influencing it. The pair discuss the mixed signals from the Federal Reserve regarding potential interest rate cuts, especially in light of disappointing economic data released on Friday. Peter highlights that while the market is reacting positively to the prospect of a rate cut, there are still many uncertainties, particularly surrounding trade deals and tariffs.
Lastly, Peter analyzes the impact of tariffs on retail investors and consumers. Peter explains how companies like Amazon are absorbing some of the costs associated with tariffs, while others may pass these expenses onto consumers, leading to higher prices. He stresses the importance of understanding how these tariffs affect everyday Americans and the broader economy.