When Wall Street strategists were cheering on President Trump’s electoral victory and projecting another rosy year for U.S. stocks, J.P. Morgan’s Michael Cembalest was taking a decidedly different tack.

U.S. stocks are rallying, though not by enough to keep Wall Street from a fourth straight losing week. The S&P 500 rose 1.8% Friday, a day after closing more than

On-again, off-again tariffs, mass government layoffs, funding cuts and immigration crackdowns have seriously spooked Wall Street, which is emphatically rejecting President Donald Trump’s chaotic economic agenda.

This is the market Ben Inker has been waiting for. In the grip of Wall Street’s big rebellion against President Donald Trump’s tariff agenda – with stocks down around 2% this week even after Friday’s big rebound – Inker is among a cohort of investors making money in this year’s volatility spiral.

They thought his second term would be like the first, giving priority to economic growth and the stock market. Trump had other ideas.