President Donald Trump's updated tariffs and a weaker-than-expected jobs report are hitting US indexes. The S&P 500 headed for its third losing day.

As President Donald Trump unveiled a blitz of new tariffs across different countries on Thursday, the markets remained largely unfazed by the move. What Happened: On Thursday, in a post on X, The Kobeissi Letter highlighted the market’s muted response to Trump’s sweeping new moves on the trade and tariff front.

July’s report ​suggests that pockets of weakness in the labor market are starting to take hold. The unemployment rate rose slightly to 4.2%.

U.S. employers added just 73,000 jobs last month and Labor Department revisions showed that hiring was much weaker than previously reported in May and June. The unemployment rate ticked up to 4.2%. The unexpectedly weak report raises questions about the health of the job market and the economy as President Donald Trump pushes

Surprisingly weak July hiring data released on Friday highlighted a fractious Federal Reserve debate over whether the central bank should have cut interest rates when it met this week, as it offered some support to those who’d favored an easing in borrowing costs.

The US employment market is showing weakness as companies grappled with President Donald Trump's sweeping tariffs, government data showed Friday, while two central bank officials warned on labor risks