The latest Market Talks covering U.S. politics. Published exclusively on Dow Jones Newswires throughout the day.

0329 ET - Oil prices are headed for a weekly loss of more than 5% after U.S. President Trump's tariff blitz and OPEC+'s plans for a larger-than-expected supply hike in May shook the market. Crude benchmarks extend the previous session's losses, with Brent down 1.9% to $68.77 a barrel and WTI falling 2.1% to $65.55 a barrel. "Weakness is appearing in longer-dated futures contracts," analysts at Fitch's BMI research unit say. "Both the six month and 12-month spreads have contracted sharply." Oil and gas have been exempted from the new round of tariffs, but traders fear the policies could raise inflation and slow global economic growth, ultimately hurting demand for crude. "This would be exacerbated by supply additions from OPEC+ and non-OPEC producers that are forecast for 2025," BMI analysts say. (giulia.petroni@wsj.com)

0318 ET - European stock indexes are in the red at the open, following declines in Asia and extending this week's losses amid concerns about an escalation of trade conflicts. The Stoxx Europe 600 is down 0.9%, dragged by heavy losses in the banks, basic resources and oil and gas sectors. Among the national indexes, France's CAC 40 is down 0.8%, the U.K.'s FTSE 100 down 0.7%, Germany's DAX down 0.6%, Spain's Ibex 35 down 1.1%, Italy's FTSE MIB down 1.3% and Switzerland's SMI down 0.7%. "Despite months of sabre-rattling by Donald Trump, markets appear to have been unprepared for the depth and breadth of tariffs announced by the White House," Hargreaves Lansdown's Derren Nathan says in a market comment. (adria.calatayud@wsj.com)

0258 ET - The U.S. dollar remains weak after the DXY index slumped to a six-month low on Thursday following President Trump's announcement of sweeping tariffs. This prompted huge concerns about the impact on the U.S. economy. Investors now await U.S. jobs data at 1230 GMT for signs of how the labor market fared just ahead of the tariffs. "The erratic nature of U.S. trade policy undermined investor confidence," IG analysts say in a note. This has sparked fears of "a massive reallocation of capital away from U.S. markets," they say. The DXY dollar index falls 0.2% to 101.915, having hit a low of 101.267 on Thursday. (jessica.fleetham@wsj.com)

0244 ET - President Trump's tariff plan appears to have a positive impact on local production, says Massimo Battaini, CEO of Italian cable maker Prysmian. "The tariffs will be applied to finished products, and therefore removes the risk that U.S. production could have been undercut from abroad," Battaini says in an emailed statement. Prysmian last year acquired U.S. rival Encore Wire and says it has 30 factories across the U.S. (adria.calatayud@wsj.com)

0235 ET - European stocks are expected to open slightly lower after sharp losses Thursday following U.S. President Trump's announcement of widespread trade tariffs. The Stoxx Europe 600 is expected to open 0.15% lower; Germany's DAX and the U.K.'s FTSE 100 are expected to open down 0.1%, according to IG. Investors are concerned about the impact of U.S. tariffs on the global economy and attention on Friday turns to U.S. jobs data. This will give a snapshot of the jobs market ahead of the tariff announcement. Investors are also monitoring any announcements of retaliatory measures. "Asian markets continue to trend lower [Friday] morning, and the same is true for futures in Europe and the U.S.," Danske Bank analysts say in a note. (jessica.fleetham@wsj.com)

1643 ET - Existing-home sales plummet in March in Toronto, Canada's largest urban market, reflecting consumer unease over U.S. trade policy and job security. The Toronto Regional Real Estate Board reports a 23% decline in March from a year ago, signaling that national sales likely fell for a third straight month. The board says households are reluctant to jump into the housing market due to U.S. trade policy, as well as a national election coming April 28. "If trade issues are solved or public policy choices help mitigate the impact of tariffs, home sales will likely increase," the board says. Canada faces no new U.S. tariffs from President Trump's new tariff policy, although Prime Minister Mark Carney warns of hard times ahead for the economy -- especially if the U.S. tips into recession, something Carney fears. (paul.vieira@wsj.com; @paulvieira)

1638 ET - Toy companies are highly exposed to President Trump's new sweeping tariffs, which are set to further raise levies on China while adding starkly higher ones elsewhere. Hasbro, which makes Nerf blasters and Play-Doh, appears to be the best positioned, thanks to sourcing some of its high-margin Wizards of the Coast products from the U.S., Jeffries analysts say in a research note. Rival Mattel, which makes Barbie dolls and Hot Wheels cars, has the most exposure to Southeast Asia, with principal manufacturing sites in Indonesia, Malaysia, Thailand and Vietnam. Canadian toy maker Spin Master "appears fairly middle ground with the exposure to the EU," analysts write. Hasbro shares sank 12%, Mattel shares tumbled 17% and Spin Master shares fell 9%. (connor.hart@wsj.com)

1521 ET - Crude futures suffer their sharpest one-day decline in almost three years as concerns about loss of demand due to U.S. tariffs are exacerbated by OPEC+ speeding up the return of withheld production. "These withering trade tariff developments arrive at a time when the macroeconomic momentum was already softening," analysts at Citi Research say in a note. "Yet, sanctions on Iranian, Venezuelan, and eventually Russian oil purchases act to tighten supply, thereby offsetting impacts from goods tariffs." Citi keeps its 2Q Brent price forecast at $68 a barrel. Brent settles down 6.4% at $70.14 a barrel, and WTI falls 6.6% to $66.95 a barrel. (anthony.harrup@wsj.com)

1445 ET - Gold futures tumble, with metals across the board sinking on Trump tariff plans. Gold falls 1.4% to $3,097 a troy ounce, which is still the fourth-highest close for the contract in its history. Industrial metals also slid, which weighed on gold. "Domestic U.S. metals producers are unlikely to be able to ramp up production quickly," says Capital Economics in a note. Silver falls 7.7% to $31.844 per ounce, and copper drops 4.2% to $4.811 a pound. (kirk.maltais@wsj.com)

1439 ET - While U.S. tariffs exclude most energy imports, they are likely to give U.S. natural gas a competitive advantage over the future development of wind and solar power,Gelber & Associates says in a note. The U.S. imported 54 gigawatts of solar panels in 2024, "with the majority coming from Southeast Asian countries that are set to face the highest tariffs under Trump's plan." The advantage could be offset, however, by higher cost of steel and other manufactured parts required to build out large natural gas infrastructure, the firm adds. Natural gas is up 1.6% at $4.121/mmBtu while oil and refined products slide. (anthony.harrup@wsj.com)

1422 ET - Canadian toy maker Spin Master is another victim of President Trump's broad, sweeping global tariffs. The company's early assessments were based on assumptions that China would get tariffs that initially were 10% and then 20% with tariffs on Mexico at 25%, says Adam Shine of National Bank of Canada. Now tariffs on China are up to 54% as well as other countries in which Spin Master diversified its manufacturing operations into, such as Vietnam, India, Indonesia and Hungary. The hope is for exemptions, Shine says. "The toy sector was carved out of China tariffs during the first Trump administration, so we'll see if we move from blanket tariffs to some sector exceptions," he adds. Shares fall 7.7%. (adriano.marchese@wsj.com)

1420 ET - Clarity on tariffs hasn't done much to banish uncertainty, Ernst & Young's Evan Giesemann says. Businesses may make some decisions based on the rates announced Wednesday, but many are still waiting on a variety of factors to decide how to move forward. Those decisions depend on how trading partners react, whether they offer concessions to mitigate tariffs or implement their own retaliatory duties, Giesemann says. President Trump left room to raise or lower tariff rates, and companies may also lobby to negotiate. The market's reaction and broader macroeconomic indicators like consumer sentiment and employment could also dictate things like price hikes or hiring. (katherine.hamilton@wsj.com)

(END) Dow Jones Newswires

April 04, 2025 03:29 ET (07:29 GMT)

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