Wall Street Breakfast Steel surges on tariff hike
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Jun 2, 2025 U.S. steel stocks are on the rise after President Trump’s announcement to double tariffs, aiming to protect American jobs. Meanwhile, predictions suggest a weakening U.S. dollar could shake up global currencies by mid-2026. Corporate news also shines with Indivior’s shift, opting to delist from the London Stock Exchange while focusing on its Nasdaq listing. The podcast further explores broad market trends and the implications of recent FDA approvals, creating a dynamic landscape for investors.
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Steel Tariff Boosts Cleveland Cliffs
- Cleveland Cliffs steel producer stock surged 30% after President Trump's announcement on tariff hike.\n- Trump visited a U.S. Steel plant and promised no layoffs with blast furnaces running at capacity for a decade.
Dollar Set to Weaken
- Morgan Stanley strategists predict the U.S. dollar will weaken significantly by mid-2026, possibly reaching COVID-19 pandemic lows.\n- Euro, yen, and Swiss franc stand to benefit most from the dollar's projected decline.
Indivior Delists London Listing
- Indivior plans to delist secondary listing from London to reduce costs and focus on Nasdaq as primary listing.\n- Over 80% of its revenue comes from the U.S., with majority trading volume on Nasdaq.