Market Indexes Showing Mixed Performance as Trump’s Tariff Announcement Looms
The stock market is showing mixed performance today as investors anxiously await President Donald Trump’s highly anticipated tariff announcement, scheduled for 4:00 PM ET. Dubbed “Liberation Day” by the administration, this announcement is expected to significantly impact global trade relations and market dynamics.
As of mid-morning trading on Wednesday, April 2, 2025, the major indexes are retreating from yesterday’s mixed close. S&P 500 futures are down approximately 0.5%, while Dow Jones Industrial Average futures have slipped 0.4%. The tech-heavy Nasdaq is experiencing the largest decline, with futures falling 0.6%.
Yesterday, the Dow Jones Industrial Average closed at 41,989.96, falling less than 0.1%. The S&P 500 rose 0.4% to finish at 5,633.07, while the Nasdaq Composite gained 0.9% to end at 17,449.89.
Trump’s “Liberation Day” Tariffs Take Center Stage
Today’s market activity is largely dominated by anticipation of President Trump’s tariff announcement. The White House has confirmed that these reciprocal tariffs targeting countries that impose duties on US products will be effective immediately upon announcement.
Market participants are particularly concerned about the potential scope and impact of these tariffs. Reports suggest that more hawkish options are being considered, including the possibility of imposing 20% “blanket” levies on trading partners. Investors fear that such aggressive measures could trigger retaliatory actions from other countries, potentially sparking a full-scale trade war.
The uncertainty surrounding these tariffs has created significant volatility in the market, with traders carefully positioning their portfolios ahead of the announcement.
Notable Stock Movers and Corporate News
Several companies are making significant moves in today’s trading session:
– PVH Corp. (PVH) shares have surged 18.24%, building on yesterday’s 8.2% gain after reporting adjusted earnings per share of $3.27, exceeding analyst expectations of $3.19.
– Progress Software Corp. (PRGS) has climbed 12.13% following strong first-quarter fiscal 2025 results, with adjusted earnings per share of $1.31 significantly outpacing the consensus estimate of $1.04.
– Tesla (TSLA) shares are up 3.59% as investors await the company’s delivery numbers.
– Roblox Corp. (RBLX) has gained 4.6% after announcing an agreement with Alphabet Inc. (GOOGL) to scale immersive advertising through the launch of rewarded video ads.
– Hims & Hers Health Inc. (HIMS) has rallied 5.1% following its decision to sell Eli Lilly and Co.’s (LLY) weight loss drugs Zepbound and Mounjaro on its platform.
– BlackBerry (BB) is set to release its Q4 2025 earnings results before market open today, drawing significant investor attention.
– Apollo Global Management (APO) announced it will release its first quarter 2025 financial results on May 2, 2025.
Upcoming Economic Events and Data Releases
Several important economic events and data releases are scheduled for today and later this week:
Today (April 2):
– ADP employment report for March, with expectations of 120,000 jobs added compared to 77,000 in the previous month.
– Factory orders for February, expected to show a 0.6% increase, down from 1.7% in January.
– Federal Reserve Governor Adriana Kugler is scheduled to speak at 4:30 PM ET on “Inflation Expectations and Monetary Policymaking.”
Later this week:
– The highly anticipated March jobs report will be released on Friday, April 4, with economists projecting 140,000 jobs added and an unemployment rate holding steady at 4.1%.
– Fed Chairman Jerome Powell will speak on the economic outlook on Friday at the Society for Advancing Business Editing and Writing Annual Conference.
– Initial jobless claims data will be released on Thursday, with expectations of 226,000 claims.
Market Outlook and Investor Sentiment
Investor sentiment remains cautious as markets digest multiple factors affecting the economic landscape. The CBOE Volatility Index (VIX), often referred to as the “fear gauge,” was down 2.3% to 21.77 as of yesterday’s close, indicating moderate market anxiety.
Beyond today’s tariff announcement, investors are closely monitoring upcoming economic data, particularly Friday’s jobs report, for signals about the health of the U.S. economy and potential implications for Federal Reserve policy. The Fed’s next meeting is scheduled for May 6-7, with the minutes from their March meeting set to be released on April 9.
As market participants navigate these complex factors, trading volumes and volatility are expected to remain elevated in the coming days, with particular attention focused on sectors most vulnerable to trade tensions and economic policy shifts.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.