Wall Street rose on Tuesday, with the S&P 500 gaining 0.2%, after a strong day on Monday that saw investors optimistic about President Donald Trump’s tariffs. The Dow Jones Industrial Average inched up by 4 points, while the Nasdaq composite rose 0.5%. The market has recovered some losses since falling 10% below its all-time high earlier this month.
However, strategists warn that more volatility is still likely ahead of an April 2 deadline when Trump will begin tariffs on trading partners. Despite this, investors are cautiously optimistic about the potential for targeted tariffs rather than sweeping ones. The Mexican and Canadian dollar values remain relatively stable, indicating less expected impact from the tariffs.
Despite the market’s optimism, consumer confidence has taken a hit, with a report showing that pessimism among US households is worsening. The Conference Board’s measure of consumer confidence fell to its lowest level in 12 years, below the threshold of 80 that usually signals a recession ahead.
In other news, Tesla rose 3.4% after a modest gain and loss following grim sales figures from Europe. Homebuilder KB Home dropped 5.2% after reporting weaker profit and revenue than expected. The S&P 500 rose to 5,776.65, with the Dow Jones Industrial Average rising to 42,587.50 and the Nasdaq composite climbing to 18,271.86.
Source: https://apnews.com/article/stocks-markets-trump-tariffs-56a3f6e7e8e7fd533884db5d47cbb991