Wall Street Today: S&P 500, Nasdaq Comp and DJIA Inch Lower on Quieter Day for Tariff News
The S&P 500, Nasdaq Composite and Dow-30 all inched lower Tuesday amid a mostly quiet day for the tariff turmoil that’s been roiling Wall Street for weeks.
The $Dow Jones Industrial Average (.DJI.US)$ led the way downward, shedding 155.83 points (0.4%) to 40,368.96, while the $S&P 500 Index (.SPX.US)$ gave back 9,34 ticks (0.2%) to 5,396.63. Meanwhile, the $Nasdaq Composite Index (.IXIC.US)$ lost 8.32 points (0.05%) to 16,823.17.
MACRO
Stocks drifted slightly lower on a rare day when markets didn't take their cue from the tariff news that's driven Wall Street for much of U.S. President Donald Trump's three-month-old presidency.
Tuesday saw few major tariff announcements from the White House other than word that Washington is making progress in bilateral trade discussions with some countries.
"We've had more than 15 deals, pieces of paper, put on the table, proposals that are actively being considered," Trump Press Secretary Karoline Leavitt told reporters. "We do believe that we can announce some deals very soon."
However, the White House also said it's seen no progress with key trading partner China.
"The ball is in China's court. China needs to make a deal with us; we don't have to make a deal with them," Trump said in a statement read by Leavitt.
Meanwhile, Bloomberg News quoted unnamed sources in China as saying that Beijing has ordered its airlines not to take any further deliveries jets to aviation parts from American airplane maker $Boeing (BA.US)$.
The ban represents part of China's retaliation against America for 145% tariffs that Trump has imposed on Chinese exports to the United States. BA fell 2.4% on the news.
MOOVERS
Tuesday's other significant percentage decliners included:
-- Digital-infrastructure firm $Applied Digital (APLD.US)$, which shed 35.9% as a fiscal Q3 revenue miss outweighed a narrower-than-expected quarterly loss.
-- $Webull (BULL.US)$, down 35%. The online-brokerage firm gave back a significant piece of the nearly 375% gain it saw Monday on its second day as a publicly traded company.
-- $Hertz Global (HTZ.US)$, which lost 9.1%. The rental-car firm disclosed Monday that it suffered a hacking incident that exposed some customers' personal information.
Meanwhile, the day's significant percentage gainers included:
-- $USA Rare Earth (USAR.US)$, which rallied 15.1%. The American rare-earth-metals company has been trading volatility but generally rising in recent weeks on Chinese moves to restrict sales of rare earths to the United States.
-- $Rocket Lab (RKLB.US)$, which gained 10.4%. The space-services firm rose on news that the U.S. and U.K. militaries have selected the company to bid on potential multi-billion-dollar contracts tied to developing hypersonic weapons.
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy.Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors' financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal.
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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Jerry Kronenberg
Director of Financial Content
Former top editor at Seeking Alpha, Fidelity.com, TheStreet.com and UPI.
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Gold price hits new high! Safe havens in a turbulent market?
🎙️Discussion 1. The spot gold price climbed to an all-time high, with numerous institutions raising their gold price forecasts, how do you
Moomoo News Global
Apr 15 18:17
Tariff Turmoil Drives Gold Surge: Wall Street Projects $4,500 by Year-End—What's Next?
ma gon : china canceled 9,000 planes purchase orders and it just dropped 2%... LOL!!
somebody got it wrong
it's not 2% drop to 98% but 98% drop to 2%