05.05.202517:11:14UTC+00US Stocks Trim Losses

On Monday, U.S. stock markets pared back their morning declines as investors continued to evaluate the implications of uncertain economic policies and the potential impact of extended U.S. tariffs on the corporate sector. The S&P 500 and the Nasdaq 100 both experienced slight dips, close to 0.3%, effectively ending the former's nine-session winning streak. President Trump revived his protectionist stance by imposing a 100% tariff on foreign films and indicating no plans to engage in discussions with Chinese President Xi Jinping this week, despite hints from his cabinet about possible agreements with other nations. Nonetheless, the ISM reported stronger-than-expected services data, suggesting the U.S. economy remains resilient in the face of looming tariff challenges. Berkshire Hathaway saw a 5% drop following CEO Warren Buffett's announcement of his retirement at the end of the year. Meanwhile, Palantir edged higher in anticipation of its post-closing earnings report. Additionally, the Dow Jones Industrial Average rose by 100 points, bolstered by the strong performance of industrial stocks.