Wall Street Sees Modest Ups and Continued Investor Caution Amid Tariff Uncertainty
Stocks showed slight gains as concerns over rising tariffs and economic uncertainty weigh heavily on the market.
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Summary
Wall Street experienced modest gains with the S&P 500 adding 0.2%, amid an atmosphere of investor caution. This follows renewed optimism regarding tariff negotiations by the Trump administration while KB Home shares plummeted nearly 9% due to dismal quarterly results reflecting housing affordability challenges. Alarmingly, U.S. consumer confidence has weakened to 92.9, its lowest in 12 years, escalating recession fears. Deutsche Bank warns that U.S. stocks remain close to historical highs despite equity prices seeming discounted, while Barclays lowered its S&P 500 target to 5,900. Furthermore, SAP's ascent to Europe's most valuable company symbolizes substantial shifts in the global economy.
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