The S&P 500 rose to a record on Wednesday, as stocks held firm despite President Donald Trump's threats of more tariffs and the Federal Reserve's continued cautious stance.
The S&P 500 rose 0.1%, notching its second straight record. The Nasdaq Composite fell 0.02%, while the Dow Jones Industrial Average was flat.
Microsoft rose 1% and led the broader technology sector higher after the company unveiled its first quantum computing chip. Nvidia rose 1% while Tesla rose more than 2%. Analog Devices jumped nearly 10% after posting better-than-expected quarterly results on both top and bottom lines.
Trump on Tuesday floated the idea of imposing 25% tariffs on imports of cars, chips and pharmaceuticals. Trump did not say whether the potential tariffs would be targeted or broad, but said they could be implemented as early as April 2.
"I think there's a lot of noise around DOGE, Elon Musk and tariffs in the short term, which is what you're seeing today. And I think a lot of this is going to be long-term," said Jim Elios, founder and chief investment officer at Elios Financial Group. "The Trump effect with the headlines is weighing on the market and causing some pain. Longer-term, I'm still very optimistic about how this can be a pro-business environment."
Investors are also weighing minutes from the Federal Reserve's most recent meeting, which showed central bankers wanted to see more progress on inflation before cutting interest rates further, and are also concerned about the impact of Trump's tariffs. (Newsmaker23)
Source: CNBC
Tested EN...
Asian stock markets weakened for the second consecutive day, indicating that the initial rally that had been "speedy" at the start of the year is starting to lose steam. At the same time, US governmen...
US stocks were mixed on Wednesday as investors weighed uneven economic data against expectations for eventual Federal Reserve easing, with the S&P 500 easing 0.2% and the Dow Jones sliding 0.8% fr...
European stocks were in mixed territory on Wednesday morning, as regional market jitters grow over U.S. President Donald Trump's threat to annex Greenland. The pan-European Stoxx 600 was little chang...
Asian stock markets weakened slightly on Wednesday after posting their best start to the year in history. The decline was driven by a decline in Japanese stocks amid escalating tensions with China. Th...
Oil prices stabilized on Thursday (February 12th), as the market reassigned a risk premium to US-Iran tensions despite US inventory data showing swelling domestic supplies. This movement confirms one thing: geopolitical headlines are still more...
Gold prices weakened slightly on Thursday (February 12th), as more solid US employment data reduced market confidence in an imminent Federal Reserve interest rate cut. The strong employment data prompted market participants to shift expectations of...
The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to...