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Today's Market

Michael P. Reinking, CFA
Sr. Market Strategist

January 28, 2025 at 1:30 p.m. EST

The consternation and debate about DeepSeek continued overnight. There were also more tariff headlines with the FT reporting that newly confirmed Treasury Secretary Bessent is pushing for universal tariffs starting at 2.5% and increasing by that amount monthly which could reach 20%. When asked President Trump said he supports an across-the-board tariff of “much bigger” than that level. This morning’s earnings reports for the most part were fine but were met with a mixed response. Futures bounced modestly overnight led by the stocks that were most beaten up yesterday however, those gains faded by the open.

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