Stocks were little changed on Tuesday as Wall Street tries to find stable footing following the latest developments on the global trade front.
The Dow Jones Industrial Average traded 58 points lower, or 0.1%. The S&P 500 hovered just above the flatline, while the Nasdaq Composite climbed 0.3% thanks to a strong gain in Palantir.
Palantir shares popped 23% on fourth-quarter results that beat analyst expectations. The stock was headed for its best day in nearly a year.
The Chinese government slapped tariffs of up to 15% on U.S. imports of coal and liquefied natural gas and 10% higher duties on crude oil, farm equipment and selected cars, effective Feb. 10.
The move comes after the U.S. agreed to pause more aggressive levies on Canada and Mexico. Canadian Prime Minister Justin Trudeau announced in a post on social media site X on Monday evening that Trump agreed to halt the implementation of tariffs against Canada for at least 30 days. Earlier on Monday, Mexican President Claudia Sheinbaum announced that duties on Mexico imports to the U.S. would also be halted for a month.
Stocks are coming off of a volatile trading session, in which the major averages made a striking turnaround after an initial global sell-off. Ultimately, the major averages ended Monday well off their lows of the day, but they still booked losses. The 30-stock Dow slipped 0.28%, while the S&P 500 fell 0.76%. The Nasdaq Composite dropped 1.2%.
Source : CNBC
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