'Tariff Man' came back: Portfolio manager comments on Trump's latest tariff threats to the EU

About this Video

• Video Title: 'Tariff Man' came back: Portfolio manager comments on Trump's latest tariff threats to the EU
• Channel: Yahoo Finance
• Speakers: Jed Ellerbrook (portfolio manager, Argent Capital Management), Yahoo Finance Host (name not provided in transcript)
• Duration: 00:05:52

Introduction

This Yahoo Finance video discusses the market reaction to President Trump's renewed tariff threats against the EU and Apple. The interview focuses on a portfolio manager's perspective on navigating this turbulent market environment and identifying investment opportunities.

Key Takeaways

• Market Reaction to Tariffs: The market initially dropped about 1% due to Trump's tariff announcements, but later recovered to a decline of around 0.5%. The market seems to be taking a more optimistic view of the tariff threats, possibly viewing them as negotiating tactics.
• Investment Opportunity: United Rentals (URI): The portfolio manager recommends United Rentals (URI) due to a consistent shift in the construction equipment industry towards renting instead of owning, and United Rental's strong management and market dominance. The company's performance is considered strong despite the uncertain economic environment.
• Nvidia's (NVDA) Outlook: Despite a significant write-off, Nvidia is expected to have a decent next quarter and a strong outlook due to increased demand for its accelerator chips from enterprise customers and foreign governments (sovereign AI). The company is considered more supply-constrained than demand-constrained.
• President Trump's Influence: The video highlights President Trump's significant influence on market sentiment, with his actions and statements significantly impacting trading activity. The market's response suggests a degree of market fatigue or skepticism regarding the immediate impact of Trump’s tariff threats.