Tariffs are at their highest rate in nearly a century, and the labor market is weakening. These are volatile times for the U.S. economy — but the stock market keeps going up.
Joe Rennison, a reporter covering financial markets for The New York Times, explains what is going on.
Guest: Joe Rennison (https://www.nytimes.com/by/joe-rennison) , a financial reporter for The New York Times.
Background reading:
• Read about the factors helping markets climb past bad news (https://www.nytimes.com/2025/08/15/bu...) .
• The specter of a trade war between Washington and Beijing has the potential to roil markets (https://www.nytimes.com/2025/10/10/bu...) .
Photo: Jeenah Moon/Reuters
For more information on today’s episode, visit nytimes.com/thedaily (http://nytimes.com/thedaily?smid=pc-t...) . Transcripts of each episode will be made available by the next workday.
Subscribe today at nytimes.com/podcasts (http://nytimes.com/podcasts) or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-acce.... For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.
Joe Rennison, a reporter covering financial markets for The New York Times, explains what is going on.
Guest: Joe Rennison (https://www.nytimes.com/by/joe-rennison) , a financial reporter for The New York Times.
Background reading:
• Read about the factors helping markets climb past bad news (https://www.nytimes.com/2025/08/15/bu...) .
• The specter of a trade war between Washington and Beijing has the potential to roil markets (https://www.nytimes.com/2025/10/10/bu...) .
Photo: Jeenah Moon/Reuters
For more information on today’s episode, visit nytimes.com/thedaily (http://nytimes.com/thedaily?smid=pc-t...) . Transcripts of each episode will be made available by the next workday.
Subscribe today at nytimes.com/podcasts (http://nytimes.com/podcasts) or on Apple Podcasts and Spotify. You can also subscribe via your favorite podcast app here https://www.nytimes.com/activate-acce.... For more podcasts and narrated articles, download The New York Times app at nytimes.com/app.