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Stock market today: Dow, S&P 500, Nasdaq surge as hopes for Trump tariff deals get a boost
- Yahoo Finance’s Brian Sozzi reports:
- Read more here.
- Yahoo Finance’s Dani Romero reports:
- Read more here.
- Stock futures are climbing after President Trump appeared to open the door to trade talks with some nations.
- Futures tied to the S&P 500 (ES=F) rose 1.6%, and those on the tech-heavy Nasdaq 100 (NQ=F) moved up 1.5%. Dow Jones Industrial Average futures (YM=F) led the gains premarket, surging more than 2%.
- If these moves continue, they will offer investors a reprieve after one of the worst three-day sell-offs since World War II, Yahoo Finance data shows. Ahead of Tuesday’s open, the S&P 500 (^GSPC) has fallen more than 10% in the days since President Trump’s tariff announcement.
- Read seven other charts showing the dramatic fallout from Trump’s ‘Liberation Day’ announcement here
- Shares of Levi Strauss (LEVI) rallied over 10% in premarket trading after the company reiterated its full-year outlook, which included no impact from tariffs. The denim maker also posted better-than-expected earnings and said demand was strong in March.
- But on a more confusing note, Levi’s CFO Harmit Singh stated this on tariffs: “Given that the situation is fluid and unprecedented, the impacts are uncertain. We are in the process of scenario planning and determining different mitigation strategies. We recognize this is a quickly evolving macro situation and we have to see where the dust settles to give you the guidance that is going to be as helpful to you as possible.”
- As Yahoo Finance’s Brian Sozzi noted, the company relies on 130 facilities in China and 50 in Vietnam — two countries Trump earmarked for large tariffs — to produce its various apparel offerings.
- Levi’s CEO Michelle Gass said the company has assembled an internal “task force” to determine the tariff impact and proper responses, such as price increases, Sozzi wrote.
- Read more here.
- Chinese stocks staged a recovery on Tuesday from their historic bruising in the previous session as Beijing stepped in to stem the slide.
- The Hang Seng China Enterprises Index (^HSCE) in Hong Kong ended with a 2.3% gain in the wake of its worst day since the 2008 financial crisis, and the Hang Seng Index (^HSI) closed 1.5% higher.
- Meanwhile, Shanghai’s CSI 300 Index (000300.SS), which slid over 7% on Monday, notched a rise of 1.7%.
- Beijing’s willingness to take measures after tariff-fueled market turmoil stands in contrast to the response in the US. Trump and his allies have shrugged off the rout, with the president saying Wall Street must “take medicine”.
- Bloomberg reports:
- Read more here.
- US Treasurys continued their sharp decline on Tuesday as investors sold bonds to cover losses in other assets and rushed to adjust their expectations for significant US rate cuts, signaling potential stress in financial markets.
- Reuters reports:
- Read more here
- The Nikkei 225 (^N225), Japan’s leading stock index, has bounced back over 6% after plunging 7% yesterday to the lowest level in over 18 months.
- The rebound occurred on Tuesday’s market open after stock futures closed briefly Monday morning with heavy losses triggering a circuit breaker close on trading.
- Tech companies led the rally as strong-performing US tech stocks bolstered belief in the Japanese tech sector.
- Read more here.
- Humana Inc. (HUM)
- Humana Inc. was one of several medical providers seeing jumps after the bell following President Donald Trump’s announcement that payments for Medicare insurers would rise to 5.06% next year. Humana stock leapt 11.5% in extended trading.
- Broadcom (AVGO)
- Shares in the semiconductor developer moved up 3% in after hours trading following news that Broadcom was launching a $10 billion share buyback program. The program will run through until Dec 31.
- Dave & Busters (PLAY)
- Arcade company Dave & Busters saw a 2.3% bounce in after-hours trading after slipping 3.8% during the day. The company fell short of market expectations for Q4 revenue after releasing earnings showing a decline in year-on-year sales.
