Wall Street today: US stocks rise ahead of Trump’s ‘Liberation Day’ | Stock Market News
Source: Live Mint
US stocks rose on Tuesday amid worries about President Donald Trump’s reciprocal tariffs.
Trump is expected to announce tariffs on his “Liberation Day” on Wednesday.
As of 11:30 AM Eastern time, the S&P 500 was up by 0.3 per cent, the Dow Jones Industrial Average was up 0.1 per cent, and the Nasdaq Composite was 0.7 per cent higher.
As of 10:45 AM Eastern time, the S&P 500 was down by 0.2 per cent, the Dow Jones Industrial Average was down 0.5 per cent, and the Nasdaq Composite was 0.1 per cent higher.
A ISM report said US manufacturing activity fell in March, breaking a two-month streak of growth.
Separately, another report said US employers advertised slightly fewer job openings at the end of February.
In the bond market, the yield on the 10-year Treasury fell to 4.14 per cent from 4.23 per cent late on Monday.
Gainers and losers
Johnson & Johnson stock dropped 4.6 per cent after a bankruptcy court judge denied the company’s settlement plan related to baby powder containing talc.
Airline stocks continued their fall, with Delta Air Lines down 4.3 per cent and United Airlines slipping 4.6 per cent.
Shares of PVH jumped 15.8 per cent after the owner of the Calvin Klein and Tommy Hilfiger brands reported stronger quarterly profit.
Bullion
Gold prices soared to new record high on Tuesday, on safe-haven demand ahead of President Trump’s planned announcement of sweeping tariffs.
Spot gold was up 0.3 per cent at $3,132.43 per ounce as of 11:07 AM ET (1507 GMT). Earlier in the day, it hit an all-time high of $3,148.88. US gold futures were 0.4 per cent higher at $3,164.20.
Silver fell 0.3 per cent to $33.97 an ounce, platinum was down 0.5 per cent at $987.30. Palladium gained 0.5 per cent to $987.68.
Crude oil
Oil prices were steady on Tuesday as threats by Trump to impose secondary tariffs on Russian crude and attack Iran countered worries about the impact of a trade war on global growth.
Brent futures were up 3 cents, or 0.04 per cent, at $74.80 a barrel at 1352 GMT, after rising to above $75 a barrel earlier in the session. US West Texas Intermediate crude futures rose 4 cents, or 0.06 per cent, to $71.52.
