Canada Tariffs, Consumer Confidence, Iran Sanctions
By Tom LoBianco | Quincy News Correspondent
Click here for updates on this story
Washington (Quincy News) — Market Recap: Wall Street ended mixed Monday as technology stocks fell and investors weighed the Trump administration’s new economic pressure campaign against Iran ahead of Nvidia earnings and key inflation data on Wednesday.
The Dow gained 0.3%, while the S&P 500 fell 0.3% and the Nasdaq dropped 0.8%. Nvidia shares fell nearly 3% ahead of the chipmaker’s earnings Wednesday. Treasury yields eased and oil prices declined while investors assessed the Treasury Department’s plans to expand long-term debt buybacks.
Today’s Focus: Canada is expected to announce its response Tuesday to new 50% U.S. tariffs on billions of dollars of Canadian goods that took effect over the weekend. Ottawa has said it will retaliate dollar for dollar, with tariffs taking effect Sept. 8, and Canadian ministers will announce additional measures to support affected workers and businesses Tuesday.
The tariffs cover a range of Canadian imports, including electronics, clothing and building materials, raising the prospect of higher prices for some U.S. consumers.
The Conference Board’s August Consumer Confidence Index and July new-home sales are both due at 10 a.m. ET.
Markets are also assessing Treasury Secretary Scott Bessent’s announcement Monday of an expanded campaign to isolate Iran economically. The administration warned countries and companies doing business with Iran that they could face U.S. sanctions, while stopping short of immediately imposing penalties on major trading partners.
ON THE SCHEDULE FOR TUESDAY, AUGUST 25, 2026
-10 a.m. ET – August Consumer Confidence, July new-home sales
-Earnings – Dick’s Sporting Goods, Zoom and Intuit
-Wednesday, 8:30 a.m. ET – July durable-goods orders, second estimate of Q2 GDP and July PCE inflation
-Wednesday earnings – Nvidia, Salesforce, CrowdStrike
-Thursday, 8:30 a.m. ET – Weekly jobless claims and July Advance Economic Indicators
-Thursday earnings – Best Buy, Dollar General, Dollar Tree
-Friday morning – Fed Chair Kevin Warsh speaks at the Jackson Hole Economic Policy Symposium
-Friday, 10 a.m. ET – Final August University of Michigan Consumer Sentiment
Please note: This story was provided to CNN Wire by an affiliate and does not contain original CNN reporting. This content carries a strict local market embargo. If you share the same market as the contributor of this article, you may not use it on any platform.