Stock Market Today: Tariffs, Tech, and Upcoming Economic Data Drive Market Sentiment
The stock market on Tuesday, February 11, 2025, reflects a complex interplay of global economic factors, tech sector developments, and anticipation of key economic data releases. Investors are navigating a landscape shaped by recent policy decisions and upcoming market events that could significantly impact trading in the days ahead.
Market Indexes: A Mixed Picture
As of the latest trading session, major market indexes are showing mixed performance:
– The S&P 500 (SPX) is down 0.28% to 6,071.00 points
– The Dow Jones Industrial Average (DJIA) has slipped 0.17% to 44,503.00 points
– The Nasdaq Composite (NDAQ) is experiencing a more significant decline, down 0.45% to 21,749.25 points
This downturn comes after a positive session on Monday, where the Nasdaq Composite led gains with a 1% increase, while the S&P 500 and Dow Jones rose 0.7% and 0.4%, respectively.
Tariffs Shake Market Confidence
A major factor influencing today’s market is the recent announcement by U.S. President Donald Trump of a global 25% tariff on steel and aluminum imports, “without exceptions or exemptions.” This move has raised concerns about potential escalation of trade tensions, contributing to the current market volatility.
The impact of this decision is evident in the performance of steel and aluminum stocks:
– Cleveland-Cliffs Inc. (CLF) surged 17.9%
– Nucor Corporation (NUE) gained 5.6%
Tech Sector in Focus
The technology sector continues to be a key driver of market movements:
– NVIDIA Corporation (NVDA) is up 2.87%, showing resilience despite recent concerns about AI chip competition
– Meta Platforms (META) has been on a remarkable run, gaining for 12 consecutive sessions and adding over $230 billion to its market cap
– Super Micro Computer, Inc. (SMCI) has seen a significant jump of 17.56%
However, not all tech stocks are faring well:
– ON Semiconductor Corporation (ON) fell 8.21% after missing Q4 earnings and revenue estimates
Upcoming Market Events
Investors are closely watching several key events that could impact market direction:
1. Federal Reserve Chair Jerome Powell’s Testimony: Scheduled for 10:00 AM ET today, Powell’s remarks before Congress could provide insights into the central bank’s monetary policy outlook.
2. Consumer Price Index (CPI): Set for release on February 13, this crucial inflation indicator is marked as a market-moving event.
3. Earnings Reports: Several major companies are scheduled to report results today, including:
– Coca-Cola (KO)
– Shopify (SHOP)
– Energy Transfer (ET)
– Lyft (LYFT)
– Upstart (UPST)
4. Economic Data Releases:
– February 13: Producer Price Index (PPI) – Final Demand
– February 14: Retail Sales and Import/Export Prices
– February 15: Industrial Production
Market Outlook
The current market sentiment is cautious, with investors balancing positive tech sector performance against concerns about trade tensions and upcoming economic data. The U.S. 10-year Treasury yield is trending upward, hovering near 4.515%, indicating shifting expectations about economic growth and inflation.
As we move further into February, market participants will be keenly observing how these factors play out, particularly the impact of tariffs on global trade and the performance of key tech stocks. The upcoming economic data releases and Federal Reserve communications will be crucial in shaping market direction in the near term.
Investors are advised to stay informed about these developments and consider their potential impacts on various sectors when making investment decisions in this dynamic market environment.
