Morning Bid: Tariff Reprise - Markets Eye Middle East, Trump Tariffs, and UK Fiscal Moves
Reuters market analyst Mike Dolan reports that global stock markets seized on a sliver of hope in the U.S.-Iran conflict as mediation efforts pushed Brent crude below $90 per barrel, despite renewed fighting entering its 10th day. The article highlights Donald Trump's new tariff salvo against Canada, applying 50% tariffs on $20 billion of Canadian imports including wine, cement, and clothes. In the UK, new Prime Minister Andy Burnham appointed former defence minister John Healey as Chancellor of the Exchequer, sparking speculation that defence spending may be carved out of fiscal rules. The piece also previews Alphabet's upcoming earnings, expected to show 21% revenue growth to $117 billion, with cloud revenue growing 64% annually. Market focus remains on big tech earnings and geopolitical developments.
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