NYSE Dow Jones finished today at:

[bigdog]

Stock market today: More swerves hit Wall Street as Trump's "Liberation Day" nears

U.S. stocks swerved through another shaky day of trading, with uncertainty still high about just what President Donald Trump will announce about tariffs on his “Liberation Day.”

apnews.com

More swerves hit Wall Street as Trump’s “Liberation Day” nears​

By STAN CHOE
Updated 8:32 AM GMT+11, April 2, 2025

NEW YORK (AP) — U.S. stocks swerved through another shaky day of trading Tuesday, with uncertainty still high about just what President Donald Trump will announce about tariffs on his “Liberation Day” coming Wednesday.

The S&P 500 rose 0.4% after roaring back from an early drop of 1%. The Dow Jones Industrial Average edged down by 11 points, or less than 0.1%, after pinging between a loss of 480 points and a gain of nearly 140, while the Nasdaq composite added 0.9%.

Wall Street has been particularly shaky recently, and momentum has been swinging not just day to day but also hour to hour because of uncertainty about what Trump will do with tariffs — and by how much they will worsen inflation and grind down growth for economies. On Monday, for example, the S&P 500 careened from an early loss of 1.7% to a gain of 0.7%.

In the bond market, Treasury yields sank after a report said U.S. manufacturing activity contracted last month, breaking a two-month streak of growth. A separate report said U.S. employers were advertising slightly fewer job openings at the end of February than economists expected.

Companies are saying they’re already feeling effects from Trump’s trade war, even with the main event potentially coming on Wednesday, when the president will announce a sweeping set of tariffs.

“Customers are pulling in orders due to anxiety about continued tariffs and pricing pressures,” one computer and electronic products company told the Institute for Supply Management in its monthly manufacturers’ survey.

“Starting to see slower-than-normal sales in Canada, and concerns of Canadians boycotting U.S. products could become a reality,” a manufacturer in the food, beverage and tobacco products industry said in the ISM’s survey.

The U.S. economy is still growing, to be sure, and the job market has remained relatively solid even with February’s slightly weaker-than-expected job openings.

But one of the worries hitting the market is that even if Trump announces less-punishing tariffs than feared on Wednesday, the stop-and-start rollout of his trade strategy may by itself cause U.S. households and businesses to freeze their spending, which would damage the economy. Trump has pushed for tariffs in part to bring manufacturing jobs back to the United States from other countries.

All the nervousness in the market has helped push the price of gold to records, and it briefly topped $3,175 per ounce Tuesday. That’s up from less than $2,700 at the start of the year.

On Wall Street, Tesla charged 3.6% higher a day ahead of reporting how many vehicles it delivered during the first three months of the year.

Worries have grown about a potential backlash from customers, and protestors have been swarming Tesla showrooms due to anger about CEO Elon Musk’s leading the U.S. government’s efforts to cut spending. Tesla’s stock is still down by roughly a third for the year so far.

PVH jumped 18.2% after the company behind the Calvin Klein and Tommy Hilfiger brands reported a stronger profit for the latest quarter than analysts expected. It also said it plans to send $500 million to shareholders this year through purchases of its own stock.

Newsmax soared another 179% to follow up on its 735% surge from Monday, which was the first day of trading for the news company’s stock.

On the losing end of Wall Street was Johnson & Johnson, which dropped 7.6% after a U.S. bankruptcy court judge denied the company’s settlement plan related to baby powder containing talc. It’s the third time the company’s attempt to resolve the baby powder settlement through bankruptcy has been rejected by courts.

All told, the S&P 500 rose 21.22 points to 5,633.07. The Dow Jones Industrial Average dipped 11.80 to 41,989.96, and the Nasdaq composite gained 150.60 to 17,449.89.

In stock markets abroad, indexes rose across much of Europe and Asia to recover some of their sharp drops from the day before.

In Europe, Germany’s DAX returned 1.7%, and France’s CAC 40 rose 1.1% after European Commission President Ursula von der Leyen said the world’s biggest trade bloc would not cower in the face of U.S. trade demands.

“Europe holds a lot of cards, from trade to technology to the size of our market. But this strength is also built on our readiness to take firm counter measures if necessary,” von der Leyen said. “All instruments are on the table.”

In Japan, the Nikkei 225 held steady as Prime Minister Shigeru Ishiba said he was imploring Trump not to impose higher auto tariffs on Japan, a longtime U.S. ally. A central bank survey found a worsening in business sentiment among big manufacturers.

In the bond market, the yield on the 10-year Treasury fell to 4.16% from 4.23% late Monday and from roughly 4.80% in January. That’s a significant move for the bond market, and yields have been falling with worries about a potentially slowing U.S. economy.

ASX 200 expected to push higher​

The Australian share market looks set to rise again on Wednesday following a mixed night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 28 points or 0.4% higher this morning.
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U.S. stocks swerved through another shaky day of trading Tuesday, with uncertainty still high about just what President Donald Trump will announce about tariffs on his “Liberation Day” coming Wednesday.

The S&P 500 rose 0.4% after roaring back from an early drop of 1%. The Dow Jones Industrial Average edged down by 11 points, or less than 0.1%, after pinging between a loss of 480 points and a gain of nearly 140, while the Nasdaq composite added 0.9%.

Wall Street has been particularly shaky recently, and momentum has been swinging not just day to day but also hour to hour because of uncertainty about what Trump will do with tariffs — and by how much they will worsen inflation and grind down growth for economies. On Monday, for example, the S&P 500 careened from an early loss of 1.7% to a gain of 0.7%.

All told, the S&P 500 rose 21.22 points to 5,633.07. The Dow Jones Industrial Average dipped 11.80 to 41,989.96, and the Nasdaq composite gained 150.60 to 17,449.89.

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[bigdog]

Stock market today: Wall Street rises in another jittery day ahead of Trump's tariff announcement

U.S. stocks whipped through another dizzying day before President Donald Trump’s unveiling of his “Liberation Day” tariffs.

apnews.com

Wall Street rises in another jittery day ahead of Trump’s tariff announcement​

By STAN CHOE
Updated 8:39 AM GMT+11, April 3, 2025

NEW YORK (AP) — U.S. stocks whipped through another dizzying day Wednesday in the final hours before President Donald Trump’s unveiling of the tariffs promised as part of his “ Liberation Day,” which could drastically remake the global economy.

The S&P 500 rose 0.7%, but only after careening between an earlier loss of 1.1% and a later gain of 1.1%. It’s had a pattern this week of opening with sharp drops only to finish the day higher.

The Dow Jones Industrial Average added 235 points, or 0.6%, and the Nasdaq composite climbed 0.9%. Both also veered from sharply lower in the morning to sharply higher in the afternoon before doubling back.

Elon Musk’s Tesla helped knock the market around after initially falling more than 6% following a report that it delivered fewer electric vehicles in the first three months of the year than it did in last year’s first quarter.

Tesla is one of Wall Street’s most influential stocks because of its immense size, and it’s faced backlash due to anger about CEO Elon Musk’s leading the U.S. government’s efforts to cut spending. But its stock erased its loss from the morning and ended with a gain of 5.3% following a report from Politico that Trump has told others that Musk will step back from his government role in coming weeks.

Financial markets around the world have broadly been shaky lately because of uncertainty about Trump’s trade war. He has said he wants tariffs to make the global system more fair and to bring manufacturing jobs back to the United States from other countries. But tariffs also threaten to grind down growth for the U.S. and other economies, while worsening inflation when it may be stuck above the Federal Reserve’s 2% target.

One of the hopes that’s helped push upward on the U.S. stock market recently is the possibility that at least the worst of the uncertainty around tariffs may be passing.

“We do not know how long the previously enacted tariffs and any future tariffs will remain in force, but we believe peak tariff uncertainty may soon be behind us,” according to Kurt Reiman, head of fixed income Americas, and other strategists at UBS Global Wealth Management. “Much of the work the administration set out to achieve will have been put in place, and there are numerous potential offramps available.”

After the market closed, Trump declared a 10% baseline tax on imports from all countries and higher tariff rates on dozens of nations that run trade surpluses with the United States. The president held up a chart while speaking at the White House, showing the United States would charge a 34% tax on imports from China, a 20% tax on imports from the European Union, 25% on South Korea, 24% on Japan and 32% on Taiwan.

Among the companies whose shares fell in after-hours trading were Deckers Outdoor, the maker of Uggs, down 9.3%; Lululemon was down 8.8%; and home products retailer Williams-Sonoma was down 8.4%.

Before Liberation Day, Trump had already announced 25% tariffs on auto imports; levies against China, Canada and Mexico; and expanded tariffs on steel and aluminum. Trump has also put tariffs against countries that import oil from Venezuela and plans separate import taxes on pharmaceutical drugs, lumber, copper and computer chips.

But even if Trump’s tariffs ultimately end up being less harsh than feared, a worry hitting the market is that their herky-jerky rollout may by itself create enough nervousness to get U.S. households and businesses to freeze their spending, which would damage the economy.

Surveys have shown deepening pessimism, but economists are waiting to see if that translates into actual damage for the economy. A report on Wednesday suggested the U.S. job market may still be running stronger than expected.

The report from ADP Research said employers, excluding the government, accelerated their hiring last month by more than economists estimated. It could be an encouraging signal for the more comprehensive jobs report coming Friday from the U.S. government. Economists expect that to show overall hiring slowed in March from February.

The job market has been one of the linchpins keeping the U.S. economy out of a recession.

Treasury yields swung in the bond market, echoing the indecision seen in the stock market.

The yield on the 10-year Treasury fell as low as 4.11% in the morning from 4.17% late Tuesday and from roughly 4.80% early this year. But it later rose to 4.18%. Higher yields can indicate higher expectations for the economy or for inflation.

On Wall Street, Newsmax fell 77.5% in its third day of trading to give back some of the meteoric gains from its debut at the start of the week. It surged 735% Monday and then another 179% on Tuesday.

Several airlines, meanwhile, flew higher to recover some of the sharp losses taken recently on worries that tariff-weary customers will fly less. United Airlines climbed 4.6%.

All told, the S&P 500 rose 37.90 points to 5,670.97. The Dow Jones Industrial Average added 235.36 to 42,225.32, and the Nasdaq composite climbed 151.16 to 17,601.05.

In stock markets abroad, indexes were mixed across Europe after finishing mixed in Asia.

ASX 200 expected to rise​

The Australian share market looks set to rise on Thursday following a decent night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 42 point or 05% higher this morning.
.
U.S. stocks whipped through another dizzying day Wednesday in the final hours before President Donald Trump’s unveiling of the tariffs promised as part of his “ Liberation Day,” which could drastically remake the global economy.

The S&P 500 rose 0.7%, but only after careening between an earlier loss of 1.1% and a later gain of 1.1%. It’s had a pattern this week of opening with sharp drops only to finish the day higher.

The Dow Jones Industrial Average added 235 points, or 0.6%, and the Nasdaq composite climbed 0.9%. Both also veered from sharply lower in the morning to sharply higher in the afternoon before doubling back.

All told, the S&P 500 rose 37.90 points to 5,670.97. The Dow Jones Industrial Average added 235.36 to 42,225.32, and the Nasdaq composite climbed 151.16 to 17,601.05.

 

[Knobby22]

Keen to see yuour post @bigdog
A quick summary below.

 

[bigdog]

Dow drops 1,600 as US stocks lead worldwide sell-off after Trump’s tariffs cause a COVID-like shock

Financial markets around the world reeled following President Donald Trump’s latest and most severe set of tariffs, and the U.S. stock market took the worst of it.

apnews.com

Dow drops 1,600 as US stocks lead worldwide sell-off after Trump’s tariffs cause a COVID-like shock​

By STAN CHOE
Updated 8:48 AM GMT+11, April 4, 2025

NEW YORK (AP) — Wall Street shuddered, and a level of shock unseen since COVID’s outbreak tore through financial markets worldwide Thursday on worries about the damage President Donald Trump’s newest set of tariffs could do to economies across continents, including his own.

The S&P 500 sank 4.8%, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy in 2020. The Dow Jones Industrial Average dropped 1,679 points, or 4%, and the Nasdaq composite tumbled 6%.

Little was spared in financial markets as fear flared about the potentially toxic mix of weakening economic growth and higher inflation that tariffs can create.

Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies fell. Even gold, which hit records recently as investors sought something safer to own, pulled lower. Some of the worst hits walloped smaller U.S. companies, and the Russell 2000 index of smaller stocks dropped 6.6% to pull more than 20% below its record.

Investors worldwide knew Trump was going to announce a sweeping set of tariffs late Wednesday, and fears surrounding it had already pulled Wall Street’s main measure of health, the S&P 500 index, 10% below its all-time high. But Trump still managed to surprise them with “the worst case scenario for tariffs,” according to Mary Ann Bartels, chief investment officer at Sanctuary Wealth.

Trump announced a minimum tariff of 10% on imports, with the tax rate running much higher on products from certain countries like China and those from the European Union. It’s “plausible” the tariffs altogether, which would rival levels unseen in roughly a century, could knock down U.S. economic growth by 2 percentage points this year and raise inflation close to 5%, according to UBS.

Such a hit would be so big that it “makes one’s rational mind regard the possibility of them sticking as low,” according to Bhanu Baweja and other strategists at UBS.

Wall Street had long assumed Trump would use tariffs merely as a tool for negotiations with other countries, rather than as a long-term policy. But Wednesday’s announcement may suggest Trump sees tariffs more as helping to solve an ideological goal than as an opening bet in a poker game. Trump on Wednesday talked about wresting manufacturing jobs back to the United States, a process that could take years.

If Trump follows through on his tariffs, stock prices may need to fall much more than 10% from their all-time high in order to reflect the recession that could follow, along with the hit to profits that U.S. companies could take. The S&P 500 is now down 11.8% from its record set in February.

“Markets may actually be underreacting, especially if these rates turn out to be final, given the potential knock-on effects to global consumption and trade,” said Sean Sun, portfolio manager at Thornburg Investment Management, though he sees Trump’s announcement on Wednesday as more of an opening move than an endpoint for policy.

Trump offered an upbeat reaction after he was asked about the market’s drop as he left the White House to fly to his Florida golf club on Thursday.

“I think it’s going very well,” he said. “We have an operation, like when a patient gets operated on and it’s a big thing. I said this would exactly be the way it is.”

One wild card is that the Federal Reserve could cut interest rates in order to support the economy. That’s what it had been doing late last year before pausing in 2025. Lower interest rates help by making it easier for U.S. companies and households to borrow and spend.

Yields on Treasurys tumbled in part on rising expectations for coming cuts to rates, along with general fear about the health of the U.S. economy. The yield on the 10-year Treasury fell to 4.04% from 4.20% late Wednesday and from roughly 4.80% in January. That’s a huge move for the bond market.

The Fed may have less freedom to move than it would like, though. While lower rates can goose the economy, they can also push upward on inflation. And worries are already worsening about that because of tariffs, with U.S. households in particular bracing for sharp increases to their bills.

The U.S. economy at the moment is still growing, of course. A report on Thursday said fewer U.S. workers applied for unemployment benefits last week. Economist had been expecting to see an uptick in joblessness, and a relatively solid job market has been the linchpin keeping the economy out of recession.

A separate report said activity for U.S. transportation, finance and other businesses in the services industry grew last month. But the growth was weaker than expected, and businesses gave a mixed picture of how they see conditions.

Worries about a potentially stagnating economy and high inflation knocked down all kinds of stocks, leading to drops for four out of every five that make up the S&P 500.

Best Buy fell 17.8% because the electronics that it sells are made all over the world. United Airlines lost 15.6% because customers worried about the global economy may not fly as much for business or feel comfortable enough to take vacations. Target tumbled 10.9% amid worries that its customers, already squeezed by still-high inflation, may be under even more stress.

All told, the S&P 500 fell. 274.45 points to 5,396.52 The Dow Jones Industrial Average sank 1,679.39 to 40,545.93, and the Nasdaq composite tumbled 1,050.44 to 16,550.61.

In stock markets abroad, indexes fell sharply worldwide. France’s CAC 40 dropped 3.3%, and Germany’s DAX lost 3% in Europe.

Japan’s Nikkei 225 sank 2.8%, Hong Kong’s Hang Seng lost 1.5% and South Korea’s Kospi dropped 0.8%.

ASX 200 expected to sink again​

The Australian share market looks set to sink again on Friday following a selloff in the United States.

According to the latest SPI futures, the ASX 200 is expected to open 93 points or 1.2% lower this morning.
.
Wall Street shuddered, and a level of shock unseen since COVID’s outbreak tore through financial markets worldwide Thursday on worries about the damage President Donald Trump’s newest set of tariffs could do to economies across continents, including his own.

The S&P 500 sank 4.8%, more than in major markets across Asia and Europe, for its worst day since the pandemic crashed the economy in 2020. The Dow Jones Industrial Average dropped 1,679 points, or 4%, and the Nasdaq composite tumbled 6%.

Little was spared in financial markets as fear flared about the potentially toxic mix of weakening economic growth and higher inflation that tariffs can create.

Everything from crude oil to Big Tech stocks to the value of the U.S. dollar against other currencies fell. Even gold, which hit records recently as investors sought something safer to own, pulled lower. Some of the worst hits walloped smaller U.S. companies, and the Russell 2000 index of smaller stocks dropped 6.6% to pull more than 20% below its record.

All told, the S&P 500 fell. 274.45 points to 5,396.52 The Dow Jones Industrial Average sank 1,679.39 to 40,545.93, and the Nasdaq composite tumbled 1,050.44 to 16,550.61

 

[bigdog]

Markets plunge with S&P 500 down 6% and Dow down 2,200 after China retaliates against Trump tariffs

Wall Street’s worst crisis since COVID slammed into a higher gear. The S&P 500 plummeted 6% Friday, the Dow Jones Industrial Average plunged 5.5% and the Nasdaq composite dropped 5.8%.

apnews.com

Markets plunge with S&P 500 down 6% and Dow down 2,200 after China retaliates against Trump tariffs​

By STAN CHOE
Updated 8:32 AM GMT+11, April 5, 2025

NEW YORK (AP) — Wall Street’s worst crisis since COVID slammed into a higher gear Friday.

The S&P 500 lost 6% after China matched President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession that hurts everyone. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.

The drop closed the worst week for the S&P 500 since March 2020, when the pandemic ripped through the global economy. The Dow Jones Industrial Average plunged 2,231 points, or 5.5% and the Nasdaq composite tumbled 5.8% to pull more than 20% below its record set in December.

So far there have been few, if any, winners in financial markets from the trade war. Stocks for all but 14 of the 500 companies within the S&P 500 index fell Friday. The price of crude oil tumbled to its lowest level since 2021. Other basic building blocks for economic growth, such as copper, also saw prices slide on worries the trade war will weaken the global economy.

China’s response to U.S. tariffs caused an immediate acceleration of losses in markets worldwide. The Commerce Ministry in Beijing said it would respond to the 34% tariffs imposed by the U.S. on imports from China with its own 34% tariff on imports of all U.S. products beginning April 10. The United States and China are the world’s two largest economies.

Markets briefly recovered some of their losses after the release of Friday morning’s U.S. jobs report, which said employers accelerated their hiring by more last month than economists expected. It’s the latest signal that the U.S. job market has remained relatively solid through the start of 2025, and it’s been a linchpin keeping the U.S. economy out of a recession.

The AP’s Seth Sutel reports global stocks worsen after China retaliates against U.S. tariffs.

But that jobs data was backward looking, and the fear hitting financial markets is about what’s to come.

“The world has changed, and the economic conditions have changed,” said Rick Rieder, chief investment officer of global fixed income at BlackRock.

The central question looking ahead is: Will the trade war cause a global recession? If it does, stock prices may need to come down even more than they have already. The S&P 500 is down 17.4% from its record set in February.

Trump seemed unfazed. From Mar-a-Lago, his private club in Florida, he headed to his golf course a few miles away after writing on social media that “THIS IS A GREAT TIME TO GET RICH.”

The Federal Reserve could cushion the blow of tariffs on the economy by cutting interest rates, which can encourage companies and households to borrow and spend. But the Fed may have less freedom to move than it would like.

Fed Chair Jerome Powell said Friday that tariffs could drive up expectations for inflation. That could prove more damaging than high inflation itself, because it can drive a vicious cycle of behavior that only worsens inflation. U.S. households have already said they’re bracing for sharp increases to their bills.

“Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem,” Powell said.

That could indicate a hesitance to cut rates because lower rates can give inflation more fuel.

Much will depend on how long Trump’s tariffs stick and what kind of retaliations other countries deliver. Some of Wall Street is holding onto hope that Trump will lower the tariffs after prying “wins” from other countries following negotiations.

Trump has given mixed signals on that. On Friday, he said Vietnam “wants to cut their Tariffs down to ZERO if they are able to make an agreement with the U.S.” Trump also criticized China’s retaliation, saying on his Truth Social platform that “CHINA PLAYED IT WRONG, THEY PANICKED - THE ONE THING THEY CANNOT AFFORD TO DO!”

Trump has said Americans may feel “some pain” because of tariffs, but he has also said the long-term goals, including getting more manufacturing jobs back to the United States, are worth it. On Thursday, he likened the situation to a medical operation, where the U.S. economy is the patient.

“For investors looking at their portfolios, it could have felt like an operation performed without anesthesia,” said Brian Jacobsen, chief economist at Annex Wealth Management.

But Jacobsen also said the next surprise for investors could be how quickly tariffs get negotiated down. “The speed of recovery will depend on how, and how quickly, officials negotiate,” he said.

On Wall Street, stocks of companies that do lots of business in China fell to some of the sharpest losses.

DuPont dropped 12.7% after China said its regulators are launching an anti-trust investigation into DuPont China group, a subsidiary of the chemical giant. It’s one of several measures targeting American companies and in retaliation for the U.S. tariffs.

GE Healthcare got 12% of its revenue last year from the China region, and it fell 16%.

All told, the S&P 500 fell 322.44 points to 5,074.08. The Dow Jones Industrial Average dropped 2,231.07 to 38,314.86, and the Nasdaq composite fell 962.82 to 15,587.79.

In stock markets abroad, Germany’s DAX lost 5%, France’s CAC 40 dropped 4.3% and Japan’s Nikkei 225 fell 2.8%.

In the bond market, Treasury yields fell, but they pared their drops following Powell’s cautious statements about inflation. The yield on the 10-year Treasury fell to 4.01% from 4.06% late Thursday and from roughly 4.80% early this year. It had gone below 3.90% in the morning.

 

[bigdog]

ASX 200 expected to crash again​

The Australian share market looks set for one of its worst days in years on Monday following another selloff on Wall Street on Friday.

Australian shares poised for plunge as Wall St crashes, dollar below 60 US cents

The post-'liberation day' rout has accelerated with Wall Street now down more than 10 per cent or $US9 trillion in two days, with sharper falls still expected to come.

The ASX is not immune from the global meltdown, with the ASX priced for a $110 billion sell-off today.

According to the latest SPI futures, the ASX 200 is expected to open the day 331 points or 4.3% lower.
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Wall Street’s worst crisis since COVID slammed into a higher gear Friday.

The S&P 500 lost 6% after China matched President Donald Trump’s big raise in tariffs announced earlier this week. The move increased the stakes in a trade war that could end with a recession that hurts everyone. Not even a better-than-expected report on the U.S. job market, which is usually the economic highlight of each month, was enough to stop the slide.

The drop closed the worst week for the S&P 500 since March 2020, when the pandemic ripped through the global economy. The Dow Jones Industrial Average plunged 2,231 points, or 5.5% and the Nasdaq composite tumbled 5.8% to pull more than 20% below its record set in December.

All told, the S&P 500 fell 322.44 points to 5,074.08. The Dow Jones Industrial Average dropped 2,231.07 to 38,314.86, and the Nasdaq composite fell 962.82 to 15,587.79

 

[bigdog]

US stocks dip after careening through a manic day following Trump's latest tariff threat

The Trump administration showed no signs of relenting on the tariffs that have caused trillions of dollars in losses.

apnews.com

US stocks dip after careening through a manic day following Trump’s latest tariff threat​

By ELAINE KURTENBACH, STAN CHOE and DAVID MCHUGH
Updated 8:11 AM GMT+10, April 8, 2025

NEW YORK (AP) — U.S. stocks careened through a manic Monday after President Donald Trump threatened to crank his tariffs higher, despite a stunning display showing how dearly Wall Street wants him to do the opposite.

The S&P 500 slipped 0.2% at the end of a day full of heart-racing reversals as battered financial markets try to figure out what Trump’s ultimate goal is for his trade war. If it’s to get other countries to agree to trade deals, he could lower his tariffs and avoid a possible recession. But if it’s to remake the economy and stick with tariffs for the long haul, stock prices may need to fall further.

The Dow Jones Industrial Average fell 349 points, or 0.9%, and the Nasdaq composite edged up by 0.1%.

All three indexes started the day sharply lower, and the Dow plunged as many as 1,700 points following even worse losses elsewhere in the world. But it suddenly surged to a gain of nearly 900 points in the late morning. The S&P 500, meanwhile, went from a loss of 4.7% to a leap of 3.4%, which would have been its biggest jump in years.

The sudden rise followed a false rumor that Trump was considering a 90-day pause on his tariffs, one that a White House account on X quickly labeled as “fake news.” That a rumor could move trillions of dollars’ worth of investments shows how much investors are hoping to see signs that Trump may let up on tariffs.

Stocks quickly turned back down, and shortly afterward, Trump dug in further and said he may raise tariffs more against China after the world’s second-largest economy retaliated last week with its own set of tariffs on U.S. products.

It’s a slap in the face to Wall Street because it suggests Trump may not care how much pain he inflicts on the market. Many professional investors had long thought that a president who used to crow about records reached under his watch would pull back on policies if they sent the Dow reeling.

On Sunday Trump told reporters aboard Air Force One that he wasn’t concerned about a sell-off and that “sometimes you have to take medicine to fix something.”

Trump has given several reasons for his stiff tariffs, including to bring manufacturing jobs back to the United States, which is a process that could take years. Trump on Sunday said he wanted to bring down the numbers for how much more the United States imports from other countries versus how much it sends to them.

Indexes nevertheless did keep swinging between losses and gains Monday after Trump’s latest tariff threat, in part because hope still remains in markets that negotiations may still come.

“We’re not calling the all-clear at all, but when you have this type of volatility in the market, of course you’re going to have back and forth” in markets not just day to day but also hour to hour, said Nate Thooft, a senior portfolio manager at Manulife Investment Management.

“We’re all waiting for the next bit of information,” he said. “Literally a Truth Social tweet or an announcement of some sort about real negotiations could dramatically move this market. This is the world we live in right now.”

All that seemed certain Monday was the financial pain hammering investments around the world for a third day after Trump announced tariffs in his “Liberation Day.”

Stocks in Hong Kong plunged 13.2% for their worst day since 1997. A barrel of benchmark U.S. crude oil dipped below $60 during the morning for the first time since 2021, hurt by worries that a global economy weakened by trade barriers will burn less fuel. Bitcoin sank below $79,000, down from its record above $100,000 set in January, after holding steadier than other markets last week.

Trump’s tariffs are an attack on the globalization that’s remade the world’s economy, which helped bring down prices for products on the shelves of U.S. stores but also caused production jobs to leave for other countries.

It also adds pressure on the Federal Reserve. Investors have become nearly conditioned to expect the central bank to swoop in as a hero by slashing interest rates to protect the economy during every downturn. But the Fed may have less freedom to act this time around because inflation remains higher than the Fed would like. And while lower interest rates can goose the economy, they can also put upward pressure on inflation.

“The recent tariffs will likely increase inflation and are causing many to consider a greater probability of a recession,” JPMorgan CEO Jamie Dimon, one of the most influential executives on Wall Street, wrote in his annual letter to shareholders Monday. “Whether or not the menu of tariffs causes a recession remains in question, but it will slow down growth.”

In the bond market, Treasury yields rallied to recover some of their sharp drops from earlier weeks. Some of the big move may have been because of reduced expectations for cuts to interest rates by the Fed. Some analysts also said it could be due to investors outside of the United States wanting to pare their U.S. investments.

The yield on the 10-year Treasury jumped to 4.20% from 4.01% late Friday.

Earlier in the day, the S&P 500 briefly fell more than 20% below its record set less than two months ago. If it finishes a day below that bar, it would be a big enough drop that Wall Street has a name for it. A “bear market” signifies a downturn that’s moved beyond a run-of-the-mill 10% drop, which happens every year or so, and has graduated into something more vicious.

The S&P 500, which sits at the heart of many investors’ 401(k) accounts, is coming off its worst week since COVID began crashing the global economy in March 2020.

All told, the index fell 11.83 points Monday to 5,062.25. The Dow Jones Industrial Average dropped 349.26 to 37,965.60, and the Nasdaq composite added 15.48 to 15,603.26.

ASX 200 expected to rebound​

The Australian share market is expected to rebound on Tuesday following a mixed session in the United States.

According to the latest SPI futures, the ASX 200 is poised to open the day 55 points or 0.75% higher.
.
U.S. stocks careened through a manic Monday after President Donald Trump threatened to crank his tariffs higher, despite a stunning display showing how dearly Wall Street wants him to do the opposite.

The S&P 500 slipped 0.2% at the end of a day full of heart-racing reversals as battered financial markets try to figure out what Trump’s ultimate goal is for his trade war. If it’s to get other countries to agree to trade deals, he could lower his tariffs and avoid a possible recession. But if it’s to remake the economy and stick with tariffs for the long haul, stock prices may need to fall further.

The Dow Jones Industrial Average fell 349 points, or 0.9%, and the Nasdaq composite edged up by 0.1%.

All three indexes started the day sharply lower, and the Dow plunged as many as 1,700 points following even worse losses elsewhere in the world. But it suddenly surged to a gain of nearly 900 points in the late morning. The S&P 500, meanwhile, went from a loss of 4.7% to a leap of 3.4%, which would have been its biggest jump in years.

 

[bigdog]

US stocks dive after another stunning reversal as uncertainty reigns about Trump's tariffs

The S&P 500 dropped 1.6% Tuesday after wiping out an early gain of 4.1%, which had it on track for its best day in years.

apnews.com

US stocks dive after another stunning reversal as uncertainty reigns about Trump’s tariffs​

By STAN CHOE
Updated 8:53 AM GMT+10, April 9, 2025

NEW YORK (AP) — U.S. stocks dove Tuesday following another stunning reversal, with Wall Street veering from a huge gain at the opening of trading to more losses at the close, because investors still have no idea what to make of President Donald Trump’s trade war, which is scheduled to kick into a higher gear after midnight.

After blasting to an early gain of 4.1%, which would have marked its best day in years, the S&P 500 quickly lost all of it. It then careened to a loss of 3% before paring its drop to 1.6%. That left the index, which sits at the heart of many investors’ 401(k) accounts, nearly 19% below its record set in February.

The Dow Jones Industrial Average lost 320 points, or 0.8%, after erasing an earlier surge of 1,460 points, while the Nasdaq composite dropped 2.1%.

The shocking swings followed rallies for stocks globally earlier in the day, with indexes up 6% in Tokyo, 2.5% in Paris and 1.6% in Shanghai. But even after those jumps, analysts had been warning to expect more swings up and down for financial markets not just in the days ahead but also the hours.
0:00 / 56
AP AUDIO: Wall Street sees a big early gain of 4% vanish as uncertainty reigns about Trump’s tariffs

AP correspondent Charles de Ledesma reports on the global reaction to the new U.S. tariffs policy as markets steady to some degree; and Iran says yes to talks with the Trump administration.

Traders work on the floor at the New York Stock Exchange in New York, Tuesday, April 8, 2025. (AP Photo/Seth Wenig)

Traders work on the floor at the New York Stock Exchange in New York, Tuesday, April 8, 2025. (AP Photo/Seth Wenig)

The big question remains centered on how long Trump will keep his stiff tariffs on other countries, which would raise prices for U.S. shoppers and slow the economy. If they last a long time, economists and investors expect them to cause a recession. But if Trump lowers them through negotiations relatively quickly, the worst-case scenario can be avoided.

Hope still remains on Wall Street that negotiations may be possible, which helped drive the morning’s rally. Trump said Tuesday that a conversation with South Korea’s acting president helped them reach the “confines and probability of a great DEAL for both countries.”

“Their top TEAM is on a plane heading to the U.S., and things are looking good,” Trump said on his Truth Social platform. “We are likewise dealing with many other countries, all of whom want to make a deal with the United States.”

Japanese stocks led global markets higher after the country’s prime minister, Shigeru Ishiba, appointed his trade negotiator for talks with the United States. It was based on an agreement between Ishiba and Trump, Japanese officials said.

But investors should still remain cautious, said Sameer Samana, a senior global market strategist for Wells Fargo Investment Institute. He pointed to how “the key countries continue to escalate, rather than de-escalate.”

China said it will “fight to the end” and warned of countermeasures after Trump threatened on Monday to raise his tariffs even further on the world’s second-largest economy.

White House press secretary Karoline Leavitt then said Tuesday that Trump’s threats of even higher tariffs on China will become reality after midnight, when imports from China will be taxed at a stunning 104% rate.

That would coincide with Trump’s latest set of broad tariffs, which are scheduled to kick in at 12:01 a.m. And Trump has made clear that he does not intend to have any exemptions or exclusions in the tariffs, according to the country’s top trade negotiator, Jamieson Greer.

The U.S. trade representative also said in testimony before a Senate committee that roughly 50 countries have already been in contact, and he’s told them: “If you have a better idea to achieve reciprocity and to get our trade deficit down, we want to talk with you, we want to negotiate with you.”

Trump’s trade war is an attack on the globalization that’s shaped the world’s economy and helped bring down prices for products on store shelves but also caused manufacturing jobs to leave for other countries. Trump has said he wants to narrow trade deficits, which measure how much more the United States imports from other countries than it sends to them as exports.

On Wall Street, companies with vast supply chains around the world helped lead the losses. Ralph Lauren sank 5.6%, for example. It sourced about 15% of its products from China last fiscal year.

Best Buy doesn’t import many products directly from China, but the electronics industry in general has a supply chain that heavily depends on the country. Best Buy estimates vendor imports from China make up about 55% of the products it purchases, and the retailer’s stock fell 8.3%

On the winning side of Wall Street were health insurers, which rose after the Centers for Medicare & Medicaid Services announced a stronger-than-expected increase in Medicare Advantage payments for next year. Humana jumped 10.7%, and United Health climbed 5.4%.

All told, the S&P 500 lost 79.48 points to 4,982.77. The Dow Jones Industrial Average dropped 320.01 to 37,645.59, and the Nasdaq composite sank 335.35 to 15,267.91.

In the bond market, longer-term Treasury yields rose for a second straight day to recover more of their sharp losses from prior months. The yield on the 10-year Treasury climbed to 4.27% from 4.15% late Monday and from just 4.01% late Friday.
Federico DeMarco works on the floor at the New York Stock Exchange in New York, Tuesday, April 8, 2025. (AP Photo/Seth Wenig)

Federico DeMarco works on the floor at the New York Stock Exchange in New York, Tuesday, April 8, 2025. (AP Photo/Seth Wenig)

Yields tend to rise with expectations for the U.S. economy’s strength and for inflation.

ASX 200 expected to fall
The Australian share market looks set to give back most of yesterday's gains following a poor night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 142 points or 2% lower this morning.
.
U.S. stocks dove Tuesday following another stunning reversal, with Wall Street veering from a huge gain at the opening of trading to more losses at the close, because investors still have no idea what to make of President Donald Trump’s trade war, which is scheduled to kick into a higher gear after midnight.

After blasting to an early gain of 4.1%, which would have marked its best day in years, the S&P 500 quickly lost all of it. It then careened to a loss of 3% before paring its drop to 1.6%. That left the index, which sits at the heart of many investors’ 401(k) accounts, nearly 19% below its record set in February.

The Dow Jones Industrial Average lost 320 points, or 0.8%, after erasing an earlier surge of 1,460 points, while the Nasdaq composite dropped 2.1%.

All told, the S&P 500 lost 79.48 points to 4,982.77. The Dow Jones Industrial Average dropped 320.01 to 37,645.59, and the Nasdaq composite sank 335.35 to 15,267.91.

 

[bigdog]

Wall Street's euphoria sends US stocks to historic gains after Trump pauses most of his tariffs

U.S. stocks soared to one of their best days in history on a euphoric Wall Street after President Donald Trump said he would back off on most of his tariffs temporarily.

apnews.com

Wall Street’s euphoria sends US stocks to historic gains after Trump pauses most of his tariffs​

By STAN CHOE
Updated 8:26 AM GMT+10, April 10, 2025

▶ Follow live updates on the global markets

NEW YORK (AP) — U.S. stocks soared to one of their best days in history on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would.

The S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the posting on social media that investors worldwide had been waiting and wishing for.

“I have authorized a 90 day PAUSE,” Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increases in tariffs.

Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports.

China was a huge exception, though, with Trump saying tariffs are going up to 125% against its products. That raises the possibility of more swings ahead that could stun financial markets. The trade war is not over, and an escalating battle between the world’s two largest economies can create plenty of damage. U.S. stocks are also still below where they were just a week ago, when Trump announced worldwide tariffs on what he called “Liberation Day.”

But on Wednesday, at least, the focus on Wall Street was on the positive. The Dow Jones Industrial Average shot to a gain of 2,962 points, or 7.9%. The Nasdaq composite leaped 12.2%. The S&P 500 had its third-best day since 1940.

The relief came after doubts had crept in about whether Trump cared about the financial pain the U.S. stock market was taking because of his tariffs. The S&P 500, the index that sits at the center of many 401(k) accounts, came into the day nearly 19% below its record set less than two months ago.

That surprised many professional investors, who had long thought that a president who used to crow about records for the Dow under his watch would pull back on policies if they sent markets reeling.

Wednesday’s rally pulled the S&P 500 index away from the edge of what’s called a “bear market.” That’s what professionals call it when a run-of-the-mill drop of 10% for U.S. stocks, which happens every year or so, graduates into a more vicious fall of 20%. The index is now down 11.2% from its record.

Wall Street also got a boost from a relatively smooth auction of U.S. Treasurys in the bond market Wednesday. Earlier jumps in Treasury yields had rattled the market, indicating increasing levels of stress. Trump himself said Wednesday that he had been watching the bond market “getting a little queasy.”

Analysts say several reasons could be behind the rise in yields, including hedge funds and other investors having to sell their Treasury bonds to raise cash in order to make up for losses in the stock market. Investors outside the United States may also be selling their U.S. Treasurys because of the trade war. Such actions would push down prices for Treasurys, which in turn would push up their yields.

Regardless of the reasons behind it, higher yields on Treasurys add pressure on the stock market and push upward on rates for mortgages and other loans for U.S. households and businesses.

The moves are particularly notable because U.S. Treasury yields have historically dropped — not risen — during scary times for the market because the bonds are usually seen as some of the safest possible investments. This week’s sharp rise had brought the yield on the 10-year Treasury back to where it was in late February.

After approaching 4.50% in the morning, the 10-year yield pulled back to 4.34% following Trump’s pause and the Treasury’s auction. That’s still up from 4.26% late Tuesday and from just 4.01% at the end of last week.

Of course, the trade war is not over. Bessent and Trump clearly showed their anger at China, which has been ratcheting up its own tariffs on U.S. goods and announcing other countermeasures with each move Trump has made.

China earlier said it would raise tariffs on U.S. goods to 84% on Thursday. “If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end” the Ministry of Commerce said.

Later the U.S. Treasury secretary said in a message to countries worldwide, but perhaps most directly aimed at China, “Do not retaliate, and you will be rewarded.”

Wednesday’s rally provided the latest reminder that some of the U.S. stock market’s best days have been clustered around some of its worst days historically. That’s one of the reasons many financial advisers suggest not trying to time the market and selling stocks and other investments meant for the long term when nervous, because of the risk of missing out on such huge up days.

The biggest gain for the S&P 500 since World War II was an 11.6% surge on Oct. 13, 2008, for example. That was during the depths of the Great Recession, when worries were high that the financial system was collapsing and the S&P 500 was in the midst of a nearly 57% plunge from its peak in late 2007 until its bottom in March 2009. A couple weeks later, the index had another one of its best days in history, soaring 10.8%.

Wednesday’s gains were widespread across the U.S. stock market, and 98% of the stocks in the S&P 500 index rallied.

Leading the way were airlines and other stocks that need customers feeling confident enough to travel for work or for vacation.

Delta Air Lines soared 23.4%. Earlier in the day, it had pulled financial forecasts for 2025 as the trade war scrambles expectations for business and household spending and depresses bookings across the travel sector. All told, the S&P 500 rocketed higher by 474.13 points to 5,456.90. The Dow Jones Industrial gained 2,962.86 to 40,608.45, and the Nasdaq composite surged 1,857.06 to 17,124.97.

In stock markets abroad, indexes tumbled across most of Europe and much of Asia after they closed before Trump’s announcement.

London’s FTSE 100 dropped 2.9%, Tokyo’s Nikkei 225 sank 3.9% and the CAC 40 fell 3.3% in Paris. Chinese stocks were an outlier, and indexes rose 0.7% in Hong Kong and 1.3% in Shanghai.

ASX 200 expected to rocket​

The Australian share market looks set to have one of its best sessions in history on Thursday following an incredible night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 490 points or 6.6% higher this morning.
.
U.S. stocks soared to one of their best days in history on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would.

The S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the posting on social media that investors worldwide had been waiting and wishing for.

“I have authorized a 90 day PAUSE,” Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increases in tariffs.

The biggest gain for the S&P 500 since World War II was an 11.6% surge on Oct. 13, 2008, for example. That was during the depths of the Great Recession, when worries were high that the financial system was collapsing and the S&P 500 was in the midst of a nearly 57% plunge from its peak in late 2007 until its bottom in March 2009. A couple weeks later, the index had another one of its best days in history, soaring 10.8%.

Wednesday’s gains were widespread across the U.S. stock market, and 98% of the stocks in the S&P 500 index rallied.

 

[farmerge]

Wall Street's euphoria sends US stocks to historic gains after Trump pauses most of his tariffs

U.S. stocks soared to one of their best days in history on a euphoric Wall Street after President Donald Trump said he would back off on most of his tariffs temporarily.

apnews.com

Wall Street’s euphoria sends US stocks to historic gains after Trump pauses most of his tariffs​

By STAN CHOE
Updated 8:26 AM GMT+10, April 10, 2025

▶ Follow live updates on the global markets

NEW YORK (AP) — U.S. stocks soared to one of their best days in history on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would.

The S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the posting on social media that investors worldwide had been waiting and wishing for.

“I have authorized a 90 day PAUSE,” Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increases in tariffs.

Treasury Secretary Scott Bessent later told reporters that Trump was pausing his so-called ‘reciprocal’ tariffs on most of the country’s biggest trading partners, but maintaining his 10% tariff on nearly all global imports.

China was a huge exception, though, with Trump saying tariffs are going up to 125% against its products. That raises the possibility of more swings ahead that could stun financial markets. The trade war is not over, and an escalating battle between the world’s two largest economies can create plenty of damage. U.S. stocks are also still below where they were just a week ago, when Trump announced worldwide tariffs on what he called “Liberation Day.”

But on Wednesday, at least, the focus on Wall Street was on the positive. The Dow Jones Industrial Average shot to a gain of 2,962 points, or 7.9%. The Nasdaq composite leaped 12.2%. The S&P 500 had its third-best day since 1940.

View attachment 197219

The relief came after doubts had crept in about whether Trump cared about the financial pain the U.S. stock market was taking because of his tariffs. The S&P 500, the index that sits at the center of many 401(k) accounts, came into the day nearly 19% below its record set less than two months ago.

That surprised many professional investors, who had long thought that a president who used to crow about records for the Dow under his watch would pull back on policies if they sent markets reeling.

Wednesday’s rally pulled the S&P 500 index away from the edge of what’s called a “bear market.” That’s what professionals call it when a run-of-the-mill drop of 10% for U.S. stocks, which happens every year or so, graduates into a more vicious fall of 20%. The index is now down 11.2% from its record.

View attachment 197218

Wall Street also got a boost from a relatively smooth auction of U.S. Treasurys in the bond market Wednesday. Earlier jumps in Treasury yields had rattled the market, indicating increasing levels of stress. Trump himself said Wednesday that he had been watching the bond market “getting a little queasy.”

Analysts say several reasons could be behind the rise in yields, including hedge funds and other investors having to sell their Treasury bonds to raise cash in order to make up for losses in the stock market. Investors outside the United States may also be selling their U.S. Treasurys because of the trade war. Such actions would push down prices for Treasurys, which in turn would push up their yields.

Regardless of the reasons behind it, higher yields on Treasurys add pressure on the stock market and push upward on rates for mortgages and other loans for U.S. households and businesses.

The moves are particularly notable because U.S. Treasury yields have historically dropped — not risen — during scary times for the market because the bonds are usually seen as some of the safest possible investments. This week’s sharp rise had brought the yield on the 10-year Treasury back to where it was in late February.

After approaching 4.50% in the morning, the 10-year yield pulled back to 4.34% following Trump’s pause and the Treasury’s auction. That’s still up from 4.26% late Tuesday and from just 4.01% at the end of last week.

Of course, the trade war is not over. Bessent and Trump clearly showed their anger at China, which has been ratcheting up its own tariffs on U.S. goods and announcing other countermeasures with each move Trump has made.

China earlier said it would raise tariffs on U.S. goods to 84% on Thursday. “If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end” the Ministry of Commerce said.

Later the U.S. Treasury secretary said in a message to countries worldwide, but perhaps most directly aimed at China, “Do not retaliate, and you will be rewarded.”

Wednesday’s rally provided the latest reminder that some of the U.S. stock market’s best days have been clustered around some of its worst days historically. That’s one of the reasons many financial advisers suggest not trying to time the market and selling stocks and other investments meant for the long term when nervous, because of the risk of missing out on such huge up days.

The biggest gain for the S&P 500 since World War II was an 11.6% surge on Oct. 13, 2008, for example. That was during the depths of the Great Recession, when worries were high that the financial system was collapsing and the S&P 500 was in the midst of a nearly 57% plunge from its peak in late 2007 until its bottom in March 2009. A couple weeks later, the index had another one of its best days in history, soaring 10.8%.

Wednesday’s gains were widespread across the U.S. stock market, and 98% of the stocks in the S&P 500 index rallied.

Leading the way were airlines and other stocks that need customers feeling confident enough to travel for work or for vacation.

Delta Air Lines soared 23.4%. Earlier in the day, it had pulled financial forecasts for 2025 as the trade war scrambles expectations for business and household spending and depresses bookings across the travel sector. All told, the S&P 500 rocketed higher by 474.13 points to 5,456.90. The Dow Jones Industrial gained 2,962.86 to 40,608.45, and the Nasdaq composite surged 1,857.06 to 17,124.97.

In stock markets abroad, indexes tumbled across most of Europe and much of Asia after they closed before Trump’s announcement.

London’s FTSE 100 dropped 2.9%, Tokyo’s Nikkei 225 sank 3.9% and the CAC 40 fell 3.3% in Paris. Chinese stocks were an outlier, and indexes rose 0.7% in Hong Kong and 1.3% in Shanghai.

ASX 200 expected to rocket​

The Australian share market looks set to have one of its best sessions in history on Thursday following an incredible night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 490 points or 6.6% higher this morning.
.
U.S. stocks soared to one of their best days in history on a euphoric Wall Street Wednesday after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would.

The S&P 500 surged 9.5%, an amount that would count as a good year for the market. It had been sinking earlier in the day on worries that Trump’s trade war could drag the global economy into a recession. But then came the posting on social media that investors worldwide had been waiting and wishing for.

“I have authorized a 90 day PAUSE,” Trump said, after recognizing the more than 75 countries that he said have been negotiating on trade and had not retaliated against his latest increases in tariffs.

The biggest gain for the S&P 500 since World War II was an 11.6% surge on Oct. 13, 2008, for example. That was during the depths of the Great Recession, when worries were high that the financial system was collapsing and the S&P 500 was in the midst of a nearly 57% plunge from its peak in late 2007 until its bottom in March 2009. A couple weeks later, the index had another one of its best days in history, soaring 10.8%.

Wednesday’s gains were widespread across the U.S. stock market, and 98% of the stocks in the S&P 500 index rallied.

View attachment 197220

View attachment 197221

All that was lost has now been regain and what will tomorrow bring, perhaps more of the same!!!!!

 

[bigdog]

US stocks dive as euphoria on Wall Street reverts to fear about US-China trade war

Japan’s benchmark Nikkei 225 jumped 8.3% in morning trading to 34,353.17, zooming upward as soon as trading began. Australia’s S&P/ASX 200 soared 4.71%.

apnews.com

US stocks dive as euphoria on Wall Street reverts to fear about US-China trade war​

By STAN CHOE
Updated 7:05 AM GMT+10, April 11, 2025

NEW YORK (AP) — U.S. stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy.

The S&P 500 tumbled 3.5%, slicing into Wednesday’s surge of 9.5% following Trump’s decision to pause many of his tariffs worldwide. The Dow Jones Industrial Average dropped 1,014 points, or 2.5%, and the Nasdaq composite tumbled 4.3%.

“Trump blinks,” UBS strategist Bhanu Baweja wrote in a report about the president’s decision on tariffs, “but the damage isn’t all undone.”

Trump has focused more on China, raising tariffs on its products to well above 100%. Even if that were to get negotiated down to something like 50%, and even if only 10% tariffs remained on other countries, Baweja said the hit to the U.S. economy could still be large enough to hurt expected growth for upcoming U.S. corporate profits.

The losses for U.S. stocks accelerated Thursday after the White House clarified that the United States will tax Chinese imports at 145%, not the 125% rate that Trump had written about in his posting on Truth Social Wednesday, once other previously announced tariffs were included. The drop for the S&P 500 exceeded 6% at one point.

“Everything is still very volatile, because with Donald Trump, you don’t know what to expect,” said Francis Lun, chief executive of Geo Securities. “This is really big uncertainty in the market. The threat of recession has not faded.”

China, meanwhile, has reached out to other countries around the world in apparent hopes of forming a united front against Trump. The world’s second-largest economy is also ramping up its own countermeasures to Trump’s tariffs.

The stock price of Warner Bros. Discovery, the company behind “A Minecraft Movie,” dropped 12.5% for one of Wall Street’s sharpest losses after China said Thursday it will “appropriately reduce the number of imported U.S. films.” The Walt Disney Co.’s stock sank 6.8%

A spokesperson for the China Film Administration said it is “inevitable” that Chinese audiences would find American films less palatable given the “wrong move by the U.S. to wantonly implement tariffs on China.”

That was after Trump and his Treasury secretary, Scott Bessent, sent a clear message to other countries Wednesday after announcing their pause on tariffs for most countries: “Do not retaliate, and you will be rewarded.”

The European Union said Thursday it will put its trade retaliation measures on hold for 90 days and leave room for a negotiated solution.

Thursday’s swings also hit the bond market, which had been showing encouraging signals earlier in the day that stress may be easing.

The bond market has historically played the role of enforcer against politicians and economic policies it deemed imprudent. It helped topple the United Kingdom’s Liz Truss in 2022, for example, whose 49 days made her Britain’s shortest-serving prime minister. James Carville, adviser to former U.S. President Bill Clinton, also famously said he’d like to be reincarnated as the bond market because of how much power it wields.

Earlier this week, big jumps for U.S. Treasury yields had rattled the market, so much that Trump said Wednesday he had been watching how investors were “getting a little queasy.”

Several reasons could have been behind the sharp, sudden rise in yields. Hedge funds may have sold Treasurys in order to raise cash, and investors outside the United States may be dumping their U.S. government bonds because of the trade war. Regardless of the reasons behind it, higher Treasury yields crank up pressure on the stock market and push rates higher for mortgages and other loans for U.S. households and businesses.

The 10-year Treasury yield had calmed following Trump’s U-turn on tariffs, dropping all the way back to 4.30% shortly after the release of a better-than-expected report on inflation Thursday morning. That’s after it had shot up to nearly 4.50% Wednesday morning from just 4.01% at the end of last week.

Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Thursday, April 10, 2025. (AP Photo/Richard Drew)

Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Thursday, April 10, 2025. (AP Photo/Richard Drew)

As Thursday progressed, though, the 10-year Treasury yield climbed once again and reached 4.40%.

It all demonstrates why many on Wall Street are preparing for more swings in markets, after the S&P 500 at one point nearly dropped into a “bear market” by almost closing 20% below its record.

Often, the market’s whipsaw moves have come not just day to day but also hour to hour. The S&P 500 still remains below where it was when Trump announced his sweeping set of tariffs last week on “Liberation Day.”

All told, the S&P 500 fell 188.85 points Thursday to 5,268.05. The Dow Jones Industrial Average dropped 1,014.79 to 39,593.66, and the Nasdaq composite sank 737.66 to 16,387.31.

In stock markets abroad, indexes rallied across Europe and Asia in their first chances to trade following Trump’s pause on many of his tariffs. Japan’s Nikkei 225 surged 9.1%, South Korea’s Kospi leaped 6.6% and Germany’s DAX returned 4.5%.

ASX 200 expected to tumble​

The Australian share market looks set to give back some of yesterday's monster gains on Friday following a selloff in the United States.

According to the latest SPI futures, the ASX 200 is expected to open 116 points or 1.6% lower this morning.
.
U.S. stocks dove Thursday and surrendered a chunk of their historic gains from the day before as President Donald Trump’s trade war continues to threaten the economy.

The S&P 500 tumbled 3.5%, slicing into Wednesday’s surge of 9.5% following Trump’s decision to pause many of his tariffs worldwide. The Dow Jones Industrial Average dropped 1,014 points, or 2.5%, and the Nasdaq composite tumbled 4.3%.

“Trump blinks,” UBS strategist Bhanu Baweja wrote in a report about the president’s decision on tariffs, “but the damage isn’t all undone.”

The losses for U.S. stocks accelerated Thursday after the White House clarified that the United States will tax Chinese imports at 145%, not the 125% rate that Trump had written about in his posting on Truth Social Wednesday, once other previously announced tariffs were included. The drop for the S&P 500 exceeded 6% at one point.

 

[bigdog]

US stocks jump and the bond market swings to cap Wall Street’s chaotic and historic week

U.S. stocks jumped in another manic day on Wall Street, but the falling value of the U.S. dollar and other swings in financial markets suggest worries about President Donald Trump’s trade war remain high.

apnews.com

US stocks jump and the bond market swings to cap Wall Street’s chaotic and historic week​

By STAN CHOE
Updated 7:01 AM GMT+10, April 12, 2025

NEW YORK (AP) — U.S. stocks jumped Friday in another manic day on Wall Street, while the falling value of the U.S. dollar and other swings in financial markets suggested fear is still high about escalations in President Donald Trump’s trade war with China.

The S&P 500 rallied 1.8%, after veering repeatedly between gains and losses, to cap a chaotic and historic week full of monstrous swings. The Dow Jones Industrial Average went from an early loss of nearly 340 points to a gain of 810 before settling at a rise of 619 points, or 1.6%, while the Nasdaq composite jumped 2.1%.

Stocks kicked higher as pressure eased a bit from within the U.S. bond market. It’s typically the more boring corner of Wall Street, but it’s been flashing serious enough signals of worry this week that it’s demanded investors’ and Trump’s attention.

The yield on the 10-year Treasury topped 4.58% in the morning, up from 4.01% a week ago. That’s a major move for a market that typically measures things in hundredths of a percentage point. Such jumps can drive up rates for mortgages and other loans going to U.S. households and businesses, which would slow the economy, and they can indicate stress in the financial system.

But Treasury yields eased back as the afternoon progressed, and the 10-year yield regressed to 4.48%. That’s still higher than the day before, but not by as eye-wateringly much.

Susan Collins, president of the Federal Reserve Bank of Boston, told the Financial Times that the Fed “would absolutely be prepared” if markets become disorderly and “does have tools to address concerns about market functioning or liquidity should they arise.”

Several reasons could be behind this week’s jump in U.S. Treasury yields, which is unusual because yields typically fall when fear is high.

Investors outside the United States could be selling their U.S. bonds because of the trade war, and hedge funds could be selling whatever’s available in order to raise cash to cover other losses. More worryingly, doubts may be rising about the United States’ reputation as the world’s safest place to keep cash because of Trump’s frenetic, on-and-off tariff actions.

The value of the U.S. dollar also fell again Friday against everything from the euro to the Japanese yen to the Canadian dollar.

Gold, however, lived up to its reputation as a safer haven for investors and saw its price rise to another record.

The shaky trading came after China announced Friday that it was boosting its tariffs on U.S. products to 125% in the latest tit-for-tat increase following Trump’s escalations on imports from China.

The repeated U.S. tariff increases “on China has become a numbers game, which has no practical economic significance, and will become a joke in the history of the world economy,” a Finance Ministry spokesman said in a statement announcing the new tariffs. “However, if the US insists on continuing to substantially infringe on China’s interests, China will resolutely counter and fight to the end.”

Rising tensions between the world’s two largest economies could cause widespread damage and a possible global recession, even after Trump recently announced a 90-day pause on some of his tariffs for other countries, except for China.

Stocks drop again as China retaliates with a 125% tax rate on US goods. The AP’s Seth Sutel reports.

All the uncertainty caused by the trade war is eroding confidence among U.S. shoppers, which could affect their spending and translate into damage for the economy, which came into this year running at a solid rate.

A preliminary survey by the University of Michigan suggested sentiment among U.S. consumers is falling even more sharply than economists expected. “This decline was, like the last month’s, pervasive and unanimous across age, income, education, geographic region, and political affiliation,” according to the survey’s director, Joanne Hsu.

“We remain in the early innings of this global trade regime change, and while the 90-day pause on reciprocal tariffs temporarily reversed the market selloff, it does prolong uncertainty,” according to Darrell Cronk, president of Wells Fargo Investment Institute.

That’s why many on Wall Street are prepared for more swings to hit markets. This past week began with huge swings for U.S. stocks within each day as rumors swirled and then got batted down about a possible 90-day pause on Trump’s tariffs. Then the U.S. stock market surged to one of its best days in history after Trump did deliver a pause, before swinging to end the week.

All told, the S&P 500 rose 95.31 points Friday to 5,363.36. The Dow Jones Industrial Average climbed 619.05 to 40,212.71, and the Nasdaq composite climbed 337.14 to 16,724.46.

Friday’s swings came after a set of stronger-than-expected profit reports from some of the biggest U.S. banks, which traditionally help kick off each earnings reporting season.

Another report on inflation also came in better than expected. That could give the Federal Reserve more leeway to cut interest rates if it feels the need to support the economy.

But Friday’s report on inflation at the wholesale level was backward looking, measuring March’s price levels. The worry is that inflation will rise in coming months as Trump’s tariffs make their way through the economy. And that could tie the Fed’s hands.

The University of Michigan’s survey suggested U.S. consumers are bracing for inflation of 6.7% in the year ahead. That’s the highest forecast since 1981, and such expectations can create a feedback loop that pushes inflation higher.

In stock markets abroad, indexes were scattershot around the world. Germany’s DAX lost 0.9%, but the FTSE 100 in London added 0.6% as the government reported the economy, the world’s sixth largest, enjoyed a growth spurt in February. Japan’s Nikkei 225 dropped 3%, while Hong Kong’s Hang Seng climbed 1.1%.

 

[farmerge]

When I pulled the plug and went to the Slumber King last night WA time, Wally Street and mates were in the doldrums, red, got quite a surprise that they all finished in a healthy shade of green.
So this roller coaster ride of one day up and one day down continues.
Perhaps Monday will be another money making day.

 

[divs4ever]

When I pulled the plug and went to the Slumber King last night WA time, Wally Street and mates were in the doldrums, red, got quite a surprise that they all finished in a healthy shade of green.
So this roller coaster ride of one day up and one day down continues.
Perhaps Monday will be another money making day.

last night made me even more suspicious

is the Fed goosing the futures again (plunge protection team )

i noted gold still rose nicely ( as did oil ) i think i will use that as the guide

 

[bigdog]

ASX 200 expected to rebound​

The Australian share market looks set for a good start to the week on Monday following a rebound on Wall Street on Friday.

According to the latest SPI futures, the ASX 200 is expected to open the day 18 points or 0.25% higher.
.
U.S. stocks jumped Friday in another manic day on Wall Street, while the falling value of the U.S. dollar and other swings in financial markets suggested fear is still high about escalations in President Donald Trump’s trade war with China.

The S&P 500 rallied 1.8%, after veering repeatedly between gains and losses, to cap a chaotic and historic week full of monstrous swings. The Dow Jones Industrial Average went from an early loss of nearly 340 points to a gain of 810 before settling at a rise of 619 points, or 1.6%, while the Nasdaq composite jumped 2.1%.

Stocks kicked higher as pressure eased a bit from within the U.S. bond market. It’s typically the more boring corner of Wall Street, but it’s been flashing serious enough signals of worry this week that it’s demanded investors’ and Trump’s attention.

All told, the S&P 500 rose 95.31 points Friday to 5,363.36. The Dow Jones Industrial Average climbed 619.05 to 40,212.71, and the Nasdaq composite climbed 337.14 to 16,724.46.

 

[bigdog]

Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now

Stocks rallied worldwide after President Donald Trump relaxed some of his tariffs and as stress from within the U.S. bond market seemed to ease.

apnews.com

Stocks rally worldwide after Trump eases some of his tariffs on electronics, for now​

By STAN CHOE
Updated 7:30 AM GMT+10, April 15, 2025

NEW YORK (AP) — Stocks rose worldwide Monday after President Donald Trump relaxed some of his tariffs, for now at least, and as stress from within the U.S. bond market seems to be easing.

The S&P 500 climbed 0.8%, though trading was still shaky, and it briefly gave back all of its big early gain of 1.8%. The Dow Jones Industrial Average rose 312 points, or 0.8%, and the Nasdaq composite added 0.6%.

Apple and other technology companies helped lift Wall Street after Trump said he was exempting smartphones, computers and other electronics from some of his stiff tariffs, which could ultimately more than double prices for U.S. customers of products coming from China. Such an exemption would mean U.S. importers don’t have to choose between passing on the higher costs to their customers or taking a hit to their own profits.

Apple climbed 2.2%, and Dell Technologies rose 4%.

Automakers also rallied after Trump suggested he may announce pauses on tariffs next for the auto industry. General Motors rose 3.5%, and Ford Motor rallied 4.1%.

All told, the S&P 500 rose 42.61 points to 5,405.97. The Dow Jones Industrial Average gained 312.08 to 40,524.79, and the Nasdaq composite climbed 107.03 to 16,831.48.

But such relief may ultimately prove fleeting. Trump’s tariff rollout has been full of fits and starts, and officials in his administration said this most recent exemption on electronics is only temporary.

That could keep uncertainty high for companies, which are trying to make long-term plans when conditions seem to change by the day. Such uncertainty sent the U.S. stock market last week to chaotic and historic swings, as investors struggled to catch up with Trump’s moves on tariffs, which could ultimately lead to a recession if not reduced.

China’s commerce ministry nevertheless welcomed the pause on electronics tariffs in a Sunday statement as a small step even as it called for the U.S. to completely cancel the rest of its tariffs. China’s leader Xi Jinping on Monday said no one wins in a trade war as he kicked off a diplomatic tour of Southeast Asia, hoping to present China as a force for stability in contrast with Trump’s frenetic moves on tariffs.

Elsewhere on Wall Street, Goldman Sachs rose 1.9% after reporting a stronger profit for the latest quarter than expected. It joined other big banks in doing so, such as JPMorgan Chase and Morgan Stanley.

Perhaps more encouragingly for Wall Street, the bond market also showed signs of increasing calm. Treasury yields eased following their sudden and scary rise last week, which seemed to rattle not only investors but also Trump.

Treasury yields usually drop when fear is high in the market because U.S. government bonds have historically been seen as some of the world’s safest investments, if not the safest. But last week, yields rose sharply for Treasury bonds in an usual move. The value of the U.S. dollar also fell against other currencies in another move suggesting investors may no longer see the United States as the best place to keep their cash during moments of stress.

Trump noted the moves in the bond market, which suggested investors “were getting a little queasy,” after he announced a 90-day pause on many of his tariffs last week.

That Trump acted only after the bond market made its scary move, but not after U.S. stock market began trembling, “reveals this administration’s Achilles’ heel,” according to Lisa Shalett, chief investment officer at Morgan Stanley Wealth Management.

The yield on the 10-year Treasury eased back to 4.37%. It had jumped to 4.48% on Friday from 4.01% the week before.

Yields sank after the bond market got an encouraging update on expectations for inflation among U.S. consumers. While U.S. households raised their expectations for inflation in the year ahead, their expectations for inflation three and five years in the future were either unchanged or lower, according to a survey by the Federal Reserve Bank of New York.

That’s potentially good news for the Federal Reserve, which hates to see fast-rising expectations for longer-term inflation. Such expectations could kick off a feedback loop that drives behavior among consumers that only worsens inflation.

The value of the U.S. dollar, though, remained under pressure. It slipped against the euro and Japanese yen, while inching higher against the Canadian dollar.

In stock markets abroad, indexes climbed 2.4% in France, 2.9% in Germany, 1.2% in Japan and 1% in South Korea.

In China, stock indexes rose 2.4% in Hong Kong and 0.8% in Shanghai after the government reported that China’s exports surged 12.4% in March from a year earlier in a last-minute flurry of activity as companies rushed to beat increases in U.S. tariffs.

ASX 200 expected to rise​

The Australian share market is expected to rise again on Tuesday following a good start to the week in the United States.

According to the latest SPI futures, the ASX 200 is poised to open the day 18 points higher.
.
Stocks rose worldwide Monday after President Donald Trump relaxed some of his tariffs, for now at least, and as stress from within the U.S. bond market seems to be easing.

The S&P 500 climbed 0.8%, though trading was still shaky, and it briefly gave back all of its big early gain of 1.8%. The Dow Jones Industrial Average rose 312 points, or 0.8%, and the Nasdaq composite added 0.6%.

Apple and other technology companies helped lift Wall Street after Trump said he was exempting smartphones, computers and other electronics from some of his stiff tariffs, which could ultimately more than double prices for U.S. customers of products coming from China. Such an exemption would mean U.S. importers don’t have to choose between passing on the higher costs to their customers or taking a hit to their own profits.

All told, the S&P 500 rose 42.61 points to 5,405.97. The Dow Jones Industrial Average gained 312.08 to 40,524.79, and the Nasdaq composite climbed 107.03 to 16,831.48.

 

[bigdog]

Wall Street drifts through a rare quiet day following weeks of tariff turmoil

U.S. stocks drifted through a rare quiet day for financial markets worldwide. The S&P 500 slipped 0.2% Tuesday.

apnews.com

Wall Street drifts through a rare quiet day following weeks of tariff turmoil​

By STAN CHOE
Updated 6:57 AM GMT+10, April 16, 2025

NEW YORK (AP) — U.S. stocks drifted Tuesday through a rare quiet day for financial markets.

The S&P 500 slipped 0.2%. The Dow Jones Industrial Average fell 155 points, or 0.4%, and the Nasdaq composite edged down by less than 0.1%.

The modest moves offered some respite following the huge swings that have battered Wall Street recently, not just day to day but also hour to hour. The day before, the S&P 500 went from a gain of 1.8% to a slight loss and back to a gain as it struggled to keep up with shifts in President Donald Trump’s trade war, which economists warn could cause a global recession unless it’s scaled back.

Perhaps more importantly, the U.S. bond market also showed more signs of calm after its sudden and sharp moves last week raised worries that investors worldwide may no longer see U.S. government bonds as a no-brainer go-to when times are scary.

The yield on the 10-year Treasury eased to 4.33% from 4.38% late Monday. It had pulled back to there from 4.48% at the end of last week after surging from just 4.01% a week earlier. A drop in yields is what usually happens when investors are scared, and this week’s moves offer a return to form for what historically had been seen as one of the safest investments possible.

The value of the U.S. dollar also steadied after tumbling last week, which had raised more worries that Trump’s trade war was degrading its status as a safe-haven investment, as with U.S. Treasury bonds. The dollar’s value ticked higher against the euro and Swiss franc, though it slipped against the British pound.

On Wall Street, Albertsons’ stock fell 7.6% despite reporting a stronger profit for the latest quarter than analysts expected. The company behind Safeway, Vons and other grocery stores gave a forecast for profit in the upcoming year that was short of analysts’.

DaVita sank 3% for a second straight drop after it said a ransomware attack is affecting some of its operations. The health care company said it’s still investigating the attack, which it learned about Saturday, and that it can’t yet know the “full scope, nature, and potential ultimate impact.”

On the winning side of Wall Street was Bank of America, which climbed 3.6% after the Charlotte, North Carolina-based bank reported stronger profit for the latest quarter than analysts expected.

Most big U.S. banks have been reporting strong results for the start of the year, boosted by their stock trading desks taking advantage of all the huge swings caused by Trump’s on-again-off-again tariff announcements. Citigroup also topped analysts’ expectations, and its stock rose 1.8%.

Palantir Technologies climbed 6.2% for a second day of gains after NATO said it would use the company’s artificial-intelligence capabilities in its allied command operations.

All told, the S&P 500 slipped 9.34 points to 5,396.63. The Dow Jones Industrial Average fell 155.83 to 40,368.96, and the Nasdaq composite edged down by 8.32 to 16,823.17.

Even with the market’s modest moves Tuesday, worries continue about the trade war. The United States and China, the world’s two largest economies, have been announcing ever-increasing tariffs on each other’s goods, along with other countermeasures to raise the stakes.

Trump has said he wants to bring manufacturing jobs back to the United States, and he also wants to trim how much more his country exports to other countries than it imports.

China’s leadership, meanwhile, has been trying to present itself as a source of “stability and certainty” as it visits countries across Southeast Asia this week.

In stock markets abroad, indexes rose across much of Europe and Asia. Germany’s DAX returned 1.4%, and the FTSE 100 in London climbed 1.4%.

Automakers helped drive indexes higher in Asia, where Japan’s Nikkei 225 added 0.8% and South Korea’s Kospi rose 0.9%.

Chinese stocks wobbled, with Hong Kong’s Hang Seng rising 0.2% after fluctuating much of the day. Stocks in Shanghai added 0.1%.

ASX 200 expected to edge lower​

The Australian share market looks set to edge lower on Wednesday after a poor night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 3 points lower this morning.
.
U.S. stocks drifted Tuesday through a rare quiet day for financial markets.

The S&P 500 slipped 0.2%. The Dow Jones Industrial Average fell 155 points, or 0.4%, and the Nasdaq composite edged down by less than 0.1%.

The modest moves offered some respite following the huge swings that have battered Wall Street recently, not just day to day but also hour to hour. The day before, the S&P 500 went from a gain of 1.8% to a slight loss and back to a gain as it struggled to keep up with shifts in President Donald Trump’s trade war, which economists warn could cause a global recession unless it’s scaled back.

All told, the S&P 500 slipped 9.34 points to 5,396.63. The Dow Jones Industrial Average fell 155.83 to 40,368.96, and the Nasdaq composite edged down by 8.32 to 16,823.17.

 

[bigdog]

US stocks drop as Nvidia slides and the fog of Trump's trade war thickens

U.S. stocks dropped as the costs of U.S. restrictions on global trade compounded. The S&P 500 fell 2.2% Wednesday. The Dow lost 1.7%, and the Nasdaq composite sank 3.1%.

apnews.com

US stocks drop as Nvidia slides and the fog of Trump’s trade war thickens​

By STAN CHOE
Updated 7:17 AM GMT+10, April 17, 2025

NEW YORK (AP) — U.S. stocks fell Wednesday after Nvidia warned new restrictions on exports to China will chisel billions of dollars off its results, while companies around the world said President Donald Trump’s trade war is clouding forecasts for how they and the economy will do this year.

The S&P 500 sank 2.2% after falling as much as 3.3% earlier. Such an amount would have vied for one of its worst losses in years before the historic, chaotic swings that have upended Wall Street in recent weeks.

The Dow Jones Industrial Average dropped 699 points, or 1.7%, and the Nasdaq composite sank a market-leading 3.1%.

Losses accelerated after the head of the Federal Reserve said again that Trump’s tariffs appear to be bigger than it expected, which could in turn slow the economy and raise inflation more than it had earlier thought. But Jerome Powell also said again that the Fed will need more time before deciding whether to lower interest rates, which could help the economy but make inflation worse, or to do the opposite.

“All of this is highly uncertain,” Powell said. “We’re thinking now, really before the tariffs have their effects, (about) how they might affect the economy. That’s why we’re waiting really to see what the policies ultimately are, and then we can make a better assessment of what the economic effects will be.”

Some companies are already seeing big effects because of changes from Washington.

Nvidia dropped 6.9% after it said the U.S. government is restricting exports of its H20 chips to China, citing worries that they could be used to build a supercomputer. The restrictions could mean a hit of $5.5 billion to Nvidia’s results for the first quarter, covering charges related to inventory and purchase commitments.

Advanced Micro Devices sank 7.3% after it said U.S. limits on exports to China for its own chips may mean a hit of up to $800 million for inventory and other charges.

In Amsterdam, ASML’s stock sank 5.2%. The Dutch company, whose machinery makes chips, said demand for artificial-intelligence technology is continuing to drive growth. “However, the recent tariff announcements have increased uncertainty in the macro environment and the situation will remain dynamic for a while,” CEO Christophe Fouquet said.

The uncertainty around Trump’s trade war has been scrambling plans for companies across industries and around the world. It’s so dynamic that United Airlines gave two different financial forecasts for how it may perform this year, one if there’s a recession and one if not.

The airline said it made the unusual move to give twin forecasts because it believes it’s “impossible to predict this year with any degree of confidence.”

United’s stock finished roughly flat even though it reported a stronger profit for the latest quarter than analysts expected.

Many investors are bracing for a possible recession because of Trump’s tariffs, which he has said he hopes will bring manufacturing jobs back to the United States and trim how much more it imports from other countries than it exports. A survey of global fund managers by Bank of America found expectations for recession are at the fourth-highest level in the last 20 years.

The World Trade Organization said Wednesday it expects tariffs to cause a 0.2% decline in the volume of world merchandise trade for 2025. That’s if the tariff situation remains as it was on Monday. Trade could shrink by 1.5% this year if conditions worsen, the WTO said.

The “enduring uncertainty threatens to act as a brake on global growth, with severe negative consequences for the world, the most vulnerable economies in particular,” Director-General Ngozi Okonjo-Iweala said.

One U.S. company that moves products around the continent, J.B. Hunt Transport Services, tumbled 7.7% for one of Wall Street’s sharper losses, even though it reported slightly stronger profit for the latest quarter than analysts expected.

All told, the S&P 500 fell 120.93 points to 5,275.70. The Dow Jones Industrial Average dropped 699.57 to 39,669.39, and the Nasdaq composite sank 516.01 to 16,307.16.

Tariffs could also drive up inflation, at least temporarily, by pushing U.S. importers to pass along the higher costs to their customers.

Fears about such price hikes drove a spending binge last month, and sales at U.S. retailers accelerated by more than economists expected. Economists said much of that was likely because of U.S. shoppers rushing to buy automobiles, electronics and other items before their prices could rise due to possible tariffs.

Recent surveys have shown U.S. households are feeling more pessimistic about the economy because of tariffs, and a fear is that it could lead them to pull back on their spending eventually, which could cause a recession by itself.

Treasury yields eased in the bond market, taking a leg lower following the comments from the Fed’s chair. The yield on the 10-year Treasury fell to 4.28% from 4.35% late Tuesday and from 4.48% at the end of last week.

It’s another notable move for the bond market and somewhat of a return to form after an unusual rise in yields last week rattled investors and Trump.

Treasury yields typically fall when investors are worried about the economy, and last week’s climb raised concerns that the trade war may be causing investors to second-guess the reputation of U.S. government bonds as one of the world’s safest possible investments.

In stock markets abroad, indexes fell across much of Asia and were mixed in Europe.

Stocks dropped 1.9% in Hong Kong, 1% in Tokyo, 1.2% in Seoul and 0.1% in Paris.

The FTSE 100 rose 0.3% in London after the government said inflation in the U.K. fell for the second month running in March, largely as a
result of lower gas prices.

Surge in spending in the US as shoppers pre-empt tariffs
Emilia Terzon

US retail sales increased by the most in more than two years in March as households stepped up purchases of motor vehicles and a range of other goods to avoid higher prices from tariffs.

This was likely barely keeping the world's biggest economy afloat in the first quarter.

With the stock market selling off and consumer sentiment tanking amid a darkening economic outlook wrought by President Donald Trump's constantly changing tariff policy, the robust sales pace reported by the Commerce Department on Wednesday will probably fizzle in the months ahead as consumers hunker down.

This spending surge comes amid concerns that the tariffs will actually push up inflation in the US, forcing the central bank there to keep rates higher for longer.

We've also had comments to this effect from the Fed's chair Jerome Powell overnight.

​

ASX 200 expected to fall​

The Australian share market looks set to end the shortened week in the red on Thursday following a tough night of trade on Wall Street.

According to the latest SPI futures, the ASX 200 is expected to open the day 26 points lower this morning.
.
U.S. stocks fell Wednesday after Nvidia warned new restrictions on exports to China will chisel billions of dollars off its results, while companies around the world said President Donald Trump’s trade war is clouding forecasts for how they and the economy will do this year.

The S&P 500 sank 2.2% after falling as much as 3.3% earlier. Such an amount would have vied for one of its worst losses in years before the historic, chaotic swings that have upended Wall Street in recent weeks.

The Dow Jones Industrial Average dropped 699 points, or 1.7%, and the Nasdaq composite sank a market-leading 3.1%.

All told, the S&P 500 fell 120.93 points to 5,275.70. The Dow Jones Industrial Average dropped 699.57 to 39,669.39, and the Nasdaq composite sank 516.01 to 16,307.16.


Tariffs could cause COVID-era slump in global trade, WTO says
Emilia Terzon profile image

By Emilia Terzon

The body that deals with the global rules of trade between nations had had a pretty big upheavel on its hands recently.

Now the World Trade Organization has sharply cut its forecast for global merchandise trade from solid growth to a decline

 

[bigdog]

Most US stocks rise, but UnitedHealth's worst day in decades keeps Wall Street in check

Most U.S. stocks rose, but the worst drop for UnitedHealth Group in a quarter century kept Wall Street in check.

apnews.com

Most US stocks rise, but UnitedHealth’s worst day in decades keeps Wall Street in check​

By STAN CHOE
Updated 7:14 AM GMT+10, April 18, 2025

NEW YORK (AP) — Most U.S. stocks climbed Thursday, but the worst drop for UnitedHealth Group in a quarter of a century kept Wall Street in check.

The S&P 500 edged up by just 0.1%, even though three of every four stocks climbed in the index. The Nasdaq composite slipped 0.1% in a mostly steadier performance following its sell-off the day before.

The Dow Jones Industrial Average dropped 527 points, or 1.3%, largely because of just stock. UnitedHealth Group lost more than a fifth of its value and fell 22.4% following a weaker-than-expected profit report.

Helping to lead the way higher on Wall Street was Eli Lilly, which jumped 14.3% after the drugmaker reported encouraging results for a once-daily pill that could help treat people with obesity and diabetes.

U.S. stocks are mostly higher Thursday morning, in the final day of trading for the holiday-shortened week. The AP’s Seth Sutel reports.

Stocks of companies in the oil-and-gas industry also rallied after the price of crude rose to recover some of its sharp losses taken this month. Diamondback Energy jumped 5.7%, and Halliburton climbed 5.1%.

Technology stocks held firmer after global heavyweight Taiwan Semiconductor Manufacturing Co. reported a profit for the latest quarter that matched analysts’ expectations. Perhaps more importantly, it also said it hasn’t seen a drop-off in activity from its customers because of President Donald Trump’s trade war, as some other companies have suggested.

Still, the company known as TSMC was cautious. “While we have not seen any changes in our customers’ behavior so far, uncertainties and risks from the potential impact from tariff policies exist,” Chief Financial Officer Wendell Huang said. TSMC’s stock that trades in the United States added 0.1%.

They helped offset UnitedHealth’s drop, its worst since 1998, after it slashed its forecast for financial results this year. It was surprised by how much care its Medicare Advantage customers were getting from doctors and outpatient services, which was above the company’s expectations.

Another high-profile stock, Nvidia, weighed on the market after sinking a second straight day following its disclosure that new export limits on chips to China could hurt its first-quarter results by $5.5 billion. It sank 2.9% and was the second-heaviest weight on the S&P 500.

All told, the S&P 500 added 7.00 points to 5,282.70. The Dow Jones Industrial Average dropped 527.16 to 39,142.23, and the Nasdaq composite slipped 20.71 to 16,286.45.

Uncertainty still remains high about tariffs, which Trump wants to bring manufacturing jobs back to the United States and trim how much more it imports than it exports. Economists worry that the tariffs could cause a recession if fully implemented and left in place for a while.

Trump on Thursday offered some encouraging signals that negotiations with other countries could lead to lower tariffs, which is what Wall Street is hoping for.

The uncertainty about what will happen in Trump’s on-again-off-again rollout of tariffs, though, could damage the economy by itself. Federal Reserve Chair Jerome Powell helped send stocks lower Wednesday when he reiterated that Trump’s tariffs appear to be larger than the central bank was expecting, which could in turn slow the economy and raise inflation more than it had earlier thought.

That could set up a dilemma for the Fed. It could cut interest rates to help the economy, but that would also push inflation higher. It has no good tool to fix both at the same time. Powell said again on Wednesday that the Fed would wait to see how conditions play out more before moving on interest rates.

Trump criticized that stance Thursday, saying the Fed is “always TOO LATE AND WRONG.” He also said, “Powell’s termination cannot come fast enough!”

That could spook Wall Street. An independent Fed able to act without influence from the White House is one of the primary reasons the United States has benefited from its reputation as a safe place to invest. History suggests central banks with more autonomy tend to have economies with lower and more stable inflation.

Research also suggests Trump’s past attacks on the Fed in favor of lower interest rates may have helped drive expectations in financial markets for lower rates, which in turn may have had some influence on the Fed. But conditions are different this time around from when inflation was low during Trump’s first term.

“This request for lower rates could backfire if markets perceive that going forward the Fed will be less committed to low and stable inflation,” said Francesco Bianchi, an economics professor at Johns Hopkins University.

In the bond market, the yield on the 10-year Treasury rose to 4.32% from 4.29% late Wednesday. It had been easing for much of this week, following last week’s scary rise. That sudden climb last week had raised concerns that Trump’s frenetic moves in his trade war may be causing investors worldwide to lose faith in U.S. investments as the world’s safest.

Reports Thursday morning came in mixed on the U.S. economy. One said fewer U.S. workers applied for unemployment benefits last week than economists expected. That’s the latest signal that the job market remains relatively solid. But a second report said manufacturing in the mid-Atlantic region unexpectedly flipped to contraction from growth.

In stock markets abroad, indexes slipped 0.6% in France and 0.5% in Germany. The European Central Bank cut its main interest rate, which is something that often pushes stock prices higher. But investors worldwide had already been expecting the move for a while.

In Asia, indexes were stronger. Stocks rose 1.6% in Hong Kong and 1.3% in Japan.

 

[farmerge]

@bigdog Another dismal day for the DOW.
But no doubt The Trumpet will be ecstatic with this current SP drop almost daily.
The lower it gets the cheaper for him and his lot can buy in.