US stock futures were mixed on Tuesday as investors reacted to China’s swift response to President Trump’s imposition of new tariffs. The Dow Jones Industrial Average (DJIA) fell by 115 points, while the S&P 500 and Nasdaq Composite Indexes remained relatively stable.
The market’s reaction was largely driven by concerns about the potential impact of trade tensions on the US economy and global growth. Despite this, some tech stocks, such as Palantir and Alphabet, saw significant gains after beating earnings expectations.
Palantir stock soared 18% pre-market after announcing strong sales growth, citing “untamed” demand for its software solutions. Analysts praised the company’s performance, with DA Davidson analyst Gil Luria calling it “the best story in all of software.”
Meanwhile, China retaliated against US tariffs by launching an anti-monopoly investigation into Alphabet’s Google and placing two US companies on its “unreliable entity list.” This move was seen as a significant escalation in the ongoing trade tensions between the world’s two largest economies.
In economic data, job openings for December were reported, with a stronger-than-expected reading of 4.5 million. Factory orders and durable goods orders also showed a rise, indicating a healthy labor market and strong demand for goods.
The US dollar retreated from its highest level in over two years after Trump announced a 30-day pause on tariffs of 25% against Canada and Mexico. Spot gold rose to an all-time high before dropping back as investors took profits.
Source: https://finance.yahoo.com/news/live/stock-market-today-dow-sp-500-nasdaq-futures-wobble-as-china-hits-back-on-tariffs-005040728.html