Jess Smith Good morning from the Financial Times. Today is Monday, August 4th, and this is your FT News Briefing. Financial markets are digesting uncomfortable data about the US economy. And the boom ...

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But just because the S&P 500 and Nasdaq Composite have hit new highs doesn't mean Wall Street's biggest showdown -- Donald Trump vs. Federal Reserve Chair Jerome Powell -- is taking a back seat.

Investors have been gearing up for Trump’s long-awaited tariff plan. Stocks had been on a steady climb higher in recent ...