SMCI Stocks Retreat as Trump Ramps Up Tariff Fight:
Bloomberg:
US equities were set to retreat from record highs while European stocks declined for the first time this week as US President Donald Trump escalated his trade offensive.
Contracts for the S&P 500 fell 0.6% after Trump said he plans to impose blanket levies of 15% or 20%. Europe’s Stoxx 600 declined 0.9%. All members of the Magnificent Seven retreated in premarket trading, after Nvidia Corp. became the first company to reach a $4 trillion valuation this week.
The dollar strengthened against most major peers, with the yen posting the steepest decline. Treasury yields rose across the curve. In a sign that some investors were still prepared to take on risk, Bitcoin extended its record rally beyond $118,000.
Trump ramped up tariff tensions on Thursday, announcing a 35% levy on certain good from Canada. Vietnam’s leadership was caught off guard by Trump’s announcement last week that it had agreed to a 20% tariff. Meanwhile, letters to members of the European Union are expected to be issued shortly.
SMCI Lower high on 5 mins. Really want this stock to perform well - watching it. 50.5 turned support the resistance. Watch the area. Up = bullish, down = bearish. Afternoon / tomorrow will tell.