This latest headline coming in from the Supreme Court. Global tariffs struck down by the Supreme Court. So today was going to be the fate of whether or not Trump's epitaphs, which about 60 to 75% of the tariff policy right now in the United States is based off of and the Supreme Court making this decision a red hat across the Bloomberg terminal.Trump's global tariffs are struck down by the US Supreme Court. So this means that the Supreme Court has decided that using EPA, which this administration has done w ...

President Donald Trump claimed on Wednesday that his administration's aggressive tariff policies have sparked a "staggering" 78% reduction in the U.S. trade deficit, vowing the nation will soon achieve its first trade surplus in decades. A Milestone In Trade Policy? In an all-caps post on Truth Social, the President lauded the impact of his global “reciprocal tariffs,” which targeted over 100 countries starting in April 2025. Trump attributed the contraction directly to these duties, stating, "The United ...

The US trade deficit widened in December, capping a turbulent year of erratic tariff policy https://t.co/cvOuCMKYmc ...

Feb 19 (Reuters) - Farm-machinery maker Deere & Co raised its annual profit forecast on Thursday citing a rebound in its construction and small ‌agriculture businesses and cost cuts that mitigated weak equipment demand, sending ‌its shares up 4.7% before the bell. The world's largest farm-equipment maker previously scaled back factory ​production to counter weak demand for new machinery as lower crop prices and higher input costs push farmers to postpone big-ticket purchases. The company is also workin ...

Core Viewpoint - The article discusses the implications of President Trump's tariff policy, particularly in relation to Canadian imports and the call for capping credit card interest rates by JPMorgan CEO Jamie Dimon [1] Group 1: Tariff Policy - The White House trade adviser Peter Navarro comments on the recent House vote to end tariffs on Canadian imports, indicating a shift in trade policy [1] - The discussion highlights the potential impact of these tariff changes on U.S.-Canada trade relations and the broader economic landscape [1] Group 2: Credit Card Interest Rates - JPMorgan CEO Jamie Dimon is advocating for the capping of credit card interest rates, suggesting concerns over consumer debt and financial stability [1] - This statement reflects ongoing discussions in the financial industry regarding the management of credit and consumer protection [1]

Group 1 - The current economic environment is characterized by geopolitical uncertainty and tariff policy, but corporate sentiment remains positive due to deregulation and potential for lower interest rates [1] - Consumer spending is showing consistent year-on-year growth, with increases observed weekly across debit and credit categories, indicating strong overall economic growth [2] - Credit performance remains robust, with no signs of systemic deterioration in consumer or commercial portfolios, and delinquency rates are low [3]

Financial Data and Key Metrics Changes - For Q2 2026, net sales were $118.2 million, reflecting a 9% increase from $108.5 million in the prior year quarter, marking the ninth consecutive quarter of year-over-year sales growth [12] - GAAP operating income for the quarter was $9.0 million, or 7.6% of sales, compared to $11.7 million in the prior year quarter, which included a $5 million gain from the sale of a manufacturing facility [12][13] - The current quarter's operating income increased by 35% compared to adjusted operating income of $6.7 million or 6.1% of sales in the prior year quarter [13] Business Line Data and Key Metrics Changes - The increase in sales was primarily driven by higher unit volume in sourced soft seating products and pricing from tariff surcharges, partially offset by lower unit volume in made-to-order soft seating products and Homestyles branded ready-to-assemble products [12] - Sales order backlog at the end of the period was $82.4 million, which includes estimated tariff surcharges [12] Market Data and Key Metrics Changes - Industry demand remains uneven, with consumer behavior showing variability influenced by economic uncertainty and inflation concerns [8] - Feedback from retail partners indicates that consumer engagement fluctuates, impacting overall industry demand [8] Company Strategy and Development Direction - The company is focusing on agility, discipline, and long-term value creation, with a strong emphasis on new product introductions and strategic account growth [4][5] - Flexsteel is actively evaluating cost reduction opportunities and alternative supply chain options to strengthen its long-term position [10] Management's Comments on Operating Environment and Future Outlook - The management acknowledges that the U.S. economy shows resilience, but housing activity and discretionary spending remain inconsistent, weighing on overall industry demand [8] - The company expects some margin dilution in the second half of fiscal 2026 due to higher cost inventory burdened with tariffs, but remains confident in its ability to manage costs and protect margins [15][31] Other Important Information - The company ended the quarter with a cash balance of $36.8 million and working capital of $126 million, with no bank debt [14] - The increase in working capital was driven by higher cost inventory due to tariffs and an intentional increase in safety stock of top-selling products [15] Q&A Session Summary Question: Can you talk about unit volumes and pricing as far as how that impacted the quarter? - The tariff revenue in the quarter was approximately $9.5 million, with unit volumes relatively flat compared to the prior quarter, although some categories saw increases while others experienced declines [19][20] Question: What portion of your sales is now coming from new products? - Over the last 6-8 quarters, 30%-40% of overall sales have been derived from new products, which is a substantial driver for gaining market share [22] Question: Are there additional retailers that you think you may be underpenetrated in? - The company has identified about 20 large independent retailers as strategic accounts, with potential for significant growth through existing and emerging relationships [25][26] Question: How do you expect to offset tariff impacts going forward? - The company has been able to mitigate tariff impacts through pricing actions and cost savings initiatives, but expects some margin dilution in the back half of the year due to higher cost inventory [29][31] Question: Was there anything unusual regarding the tax rate this quarter? - There was a slight impact related to foreign taxes, but the tax rate going forward is expected to align more closely with the full-year tax rate [32]

Core Insights - General Motors is shifting vehicle production from China and Mexico to a factory in Kansas, ending the production of the Chevrolet Bolt EV at the Fairfax Assembly Plant [1][4] - The economic and political landscape, influenced by the Trump administration's tariff policies and the cessation of the federal EV tax credit, has increased production costs for vehicles made in China and Mexico [2] - The production of the 2027 Chevy Bolt EV is expected to conclude in approximately 18 months, with its price set at $29,990, making it one of the most affordable EVs in the U.S. market [3] Production Changes - The next-generation Buick Envision will be produced at the Kansas facility starting in 2028, while the gas-powered Chevrolet Equinox will transition from Mexico to Kansas by mid-2027 [4] - GM has indicated that the Bolt will have a limited production run, with plans already in place for the Equinox to replace it at the Fairfax plant [5] Future Investments - GM has committed to future investments in the Fairfax Assembly Plant for the development of new affordable EVs, although the timeline for these investments remains uncertain [5]

Group 1: Dollar Index and Market Reactions - The dollar index (DXY00) rose by +0.18% on Wednesday after recovering from early losses, influenced by President Trump's comments on tariffs related to Greenland [1][4] - Initial concerns about potential higher tariffs from President Trump on European countries pressured the dollar, coinciding with a significant decline in US pending home sales [2][3] - The dollar continues to face underlying weakness due to expectations of a -50 basis point interest rate cut by the FOMC in 2026, while other central banks are expected to adjust rates differently [5][6] Group 2: Economic Indicators - US pending home sales in December fell by -9.3% month-over-month, marking the largest decline in 5.5 years, which was worse than the expected -0.3% [3] - US construction spending in October increased by +0.5% month-over-month, surpassing expectations of +0.1% [3] Group 3: Central Bank Policies - The Federal Reserve is increasing liquidity in the financial system by purchasing $40 billion a month in T-bills, contributing to dollar pressure [6] - The market is currently pricing in a 5% chance of a -25 basis point rate cut at the FOMC's next meeting scheduled for January 27-28 [4]

Core Points - President Trump claimed victory over inflation, stating that the U.S. has "virtually no inflation" and that consumer prices are decreasing rapidly [2] - Federal data contradicts Trump's claims, indicating that inflation remains elevated, with the consumer price index at a 2.7% annual rate as of December 2025 [3] - Core CPI, which excludes volatile food and energy prices, is at 2.6%, indicating persistent inflation concerns for policymakers [4] Inflation and Tariffs - Trump's tariff policy is contributing to upward pressure on inflation, complicating claims of victory over inflation [5] - The average effective tariff rate in the U.S. is 17.5%, the highest since 1932, significantly up from around 2% at the beginning of 2025 [6] - Consumers are expected to pay an additional $1,300 to $1,700 in 2026 due to current tariff rates compared to pre-2025 levels [7] Consumer Price Trends - Mortgage rates have decreased to an average of 6.21%, down from over 7% in January 2025, translating to approximately $1,800 in annual savings on a $300,000 loan [10][11] - National rent index fell by 0.8% in December, with an overall decline of 1.3% year-over-year, now averaging $1,356 [12] - Car payments have increased, with the average monthly payment for new vehicles reaching $772, up from $754 at the end of 2024 [14][15] Energy and Grocery Prices - Gasoline prices have decreased by nearly 10% to an average of $2.81 per gallon since Trump took office [16] - Electricity prices have surged nearly 7% over the past year, driven by increased demand from data centers [18] - Grocery prices have risen by 2.4% year-over-year, with specific items like beef and coffee seeing significant price increases of 16% and 20%, respectively [19][20] Airfare Trends - Airline fares have declined by more than 3% year-over-year, supported by lower jet fuel prices [21][22] - The price data does not account for ancillary fees, which can significantly impact travelers' budgets [23]