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Tariff Relief Lifts S&P Futures as Trump Sworn In: Markets Wrap

(Bloomberg) -- Wall Street breathed a collective sigh a relief after Donald Trump held off from imposing China-specific tariffs on his first day in office, pushing US equity futures higher. The dollar slumped.Most Read from BloombergHow Sanctuary Cities Are Preparing for Another Showdown With TrumpTexas HOA Charged With Discrimination for Banning Section 8 RentersWhat LA’s Fires Mean for the City’s Housing ShortageDeadly Landslide of Garbage Displays Uganda's Missed OpportunityNYC Commuters Get

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Dollar drops, European stocks jump on Trump tariff delay

LONDON (Reuters) -The dollar fell broadly on Monday, while European stocks jumped, after an official for the incoming U.S. administration said President-elect Donald Trump would stop short of imposing tariffs at his inauguration, which takes place later in the day. European equity markets were firmly in positive territory in afternoon trading after the Wall Street Journal reported Trump would not impose import tariffs immediately after he's sworn in later on Monday. The dollar tumbled by as much as 1.3% at one point, falling particularly hard against the currencies of the United States' largest trading partners, such as the Canadian dollar, the Mexican peso, the euro and China's yuan.

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Lanxess gets profit boost as US customers stock up ahead of Trump presidency

German specialty chemicals maker Lanxess said on Monday it expected its fourth-quarter core profit to exceed market expectations by more than 20%, largely due to pre-buying by U.S. customers ahead of Donald Trump’s inauguration given the threat of potential tariffs. Shares in Lanxess, which makes high-end speciality chemicals such as additives, lubricants, flame retardants and plastics, were up 6.4% in afternoon trading. "The fourth quarter was positively influenced by a stronger than expected December, in particular due to customers’ pre-buying," the company said in a statement, flagging that the underlying macroeconomic environment had not improved.

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