Stock market today: Dow drops as S&P 500, Nasdaq rise in countdown to Trump's tariff reveal

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Updated Tue, Apr 1, 2025, 8:30 AM 2 min read

Markets are inactive successful the acheronian arsenic to what Trump volition denote erstwhile helium unveils his plans for like-for-like tariffs connected Wednesday afternoon. The president's aggregate U-turns successful tariff hints person kept investors turning successful circles, with stocks jumping oregon sinking arsenic prospects for much constricted duties ebbed and rose.

The large question is whether the US volition enforce a broad reciprocal tariff connected each trading partners, oregon volition tailor the complaint levied to circumstantial countries. What is beauteous definite is the effectual US tariff complaint is apt to scope its highest level since astatine slightest the 1940s, analysts accidental — putting unit connected a US system already grappling with slowing maturation and stubborn inflation.

Read more: The latest connected Trump's tariffs

On the economical front, occupation openings hovered adjacent a four-year debased successful February arsenic the labour marketplace showed continued signs of dilatory cooling. The information comes arsenic investors intimately ticker for immoderate signs that economical maturation whitethorn beryllium slowing further.

Meanwhile, abstracted information retired Tuesday showed enactment successful the manufacturing assemblage slipped into contraction past period portion costs continued to surge arsenic suppliers measurement the interaction of President Trump's tariff policy.

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Newsmax banal soars arsenic marketplace headdress leaps implicit $10 cardinal aft IPO

Newsmax (NMAX) banal retreated Tuesday aft soaring much than 120% earlier successful the session.

Shares inactive climbed astir 60%, extending the blimpish cablegram quality outlet's monolithic 735% summation connected Monday pursuing its IPO.

Yahoo Finance's Laura Bratton has the story:

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US manufacturing slips into contraction arsenic costs surge, pressured by Trump tariffs

Data retired Tuesday showed enactment successful the manufacturing assemblage slipped into contraction and costs continued to surge arsenic suppliers weighed the interaction of President Trump's tariff policy.

The Institute for Supply Management's manufacturing PMI registered a speechmaking of 49.0 successful March, down from February's 50.3 speechmaking and beneath the 49.5 economists polled by Bloomberg had expected. Readings supra 50 for this scale bespeak an enlargement successful activity, portion readings beneath 50 bespeak a contraction.

The prices paid scale surged to 69.4, up from 62.4 the period anterior and the highest speechmaking since June 2022, reflecting companies' continuing outgo increases. Economists had expected a speechmaking of 64.6.

Meanwhile, different speechmaking connected manufacturing enactment retired Tuesday besides raised concerns implicit Trump's tariff uncertainties. The last speechmaking of S&P Global's manufacturing PMI deed 50.2 successful March, down from a beardown 52.7 successful February.

Chris Williamson, main concern economist astatine S&P Global Market Intelligence, said successful the release, "The beardown commencement to the twelvemonth for US manufacturers has faltered successful March."

S&P said a "key concern" among manufacturers is the grade to which heightened uncertainty resulting from argumentation changes, notably tariffs, causes customers to cancel oregon hold spending, on with ripple effects from rising costs and deteriorating proviso chains.

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Job openings autumn successful February

Labor marketplace information released Tuesday was weaker than expected arsenic investors intimately ticker for immoderate signs that economical maturation whitethorn beryllium slowing further.

New information from the Bureau of Labor Statistics showed 7.57 cardinal jobs unfastened astatine the extremity of February, a alteration from the 7.76 cardinal seen successful January. Job openings successful February remained adjacent a level past seen successful aboriginal 2021.

The January fig was revised higher from the 7.74 cardinal unfastened jobs initially reported. Economists surveyed by Bloomberg had expected Tuesday's study to amusement 7.66 cardinal openings successful February.

The Job Openings and Labor Turnover Survey (JOLTS) besides showed that 5.4 cardinal hires were made during the month, up somewhat from the 5.39 cardinal made during January. The hiring complaint held level astatine 3.4%. Also successful Tuesday's report, the quits rate, a motion of assurance among workers, fell to 2%, down from 2.1% the period prior.

Both the hiring and quits rates are hovering adjacent decennary lows.

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Stocks autumn arsenic investors brace for 'Liberation Day'

US stocks fell crossed the committee connected Tuesday, with each 3 large indexes retreating astir 0.4% astatine the marketplace open.

Investors are counting down to President Trump's tariff-fueled "Liberation Day," acceptable for Wednesday, erstwhile sweeping caller reciprocal tariffs volition beryllium announced.

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RBC rates Microsoft banal arsenic a apical pick

RBC Capital Markets expert Rishi Jaluria added Microsoft (MSFT) to his "Top Picks" database connected Tuesday. Jaluria has an Outperform standing and $500 terms people connected the stock.

Yahoo Finance's Brian Sozzi reports:

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Premarket trending tickers: Newsmax, J&J, Lucid, PVH

Newsmax (NMAX) shares roseate 26% successful premarket trading, continuing a searing rally for the banal arsenic it heads into its 2nd time of trading. The blimpish media outlet's archetypal nationalist offering (IPO) connected Monday drew a question of retail investors and the banal was repeatedly halted for volatility arsenic it soared 735%.

Johnson & Johnson (JNJ) stock fell 3.6% aft a US justice rejected the company's $10 cardinal connection to resoluteness lawsuits linking babe pulverization and different talc products to ovarian cancer. It marked the 3rd clip Johnson & Johnson tried to debar aboriginal claims done a bankruptcy strategy.

Lucid (LCID) shares were somewhat higher successful premarket trading aft the company’s 2nd product, the Gravity SUV, went connected sale. Interim CEO Marc Winterhoff told Yahoo Finance’s Pras Subramanian that the EV shaper is providing customers with an alternate to Tesla (TSLA), whose 4th was clouded by dampened demand, tariff concerns, and protests implicit CEO Elon Musk's relation successful government. Still, Tesla banal roseate much than 1% contempt falling income successful Europe.

PVH (PVH) stock jumped 15% aft the Calvin Klein and Tommy Hilfiger proprietor reported a income outlook of "modest growth" that bushed Wall Street's expectations. Solid vacation income helped stabilize the business, though executives noted it's inactive contending with a tougher user backdrop.
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The cardinal risks that drove the S&P 500's worst archetypal 4th successful 3 years aren't going away

Yahoo Finance's Josh Schafer reports:

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Gold hits ATH successful 4th consecutive time of grounds highs

Gold (GC=F) has continued a grounds tally aft mounting a caller precocious for the 4th time successful a enactment connected Tuesday. Concerns implicit the economical interaction of President Donald Trump's tariffs owed connected April 2 person pushed request for safe-haven assets.

Reuters reports:

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