See All Market Updates LiveMajor Indexes Show Mixed Performance Amid Tariff Uncertainty
The stock market is showing mixed signals today as investors anxiously await President Trump’s tariff announcement scheduled for later this afternoon. As of midday trading on Wednesday, April 2, 2025, the major indexes are displaying varied performance. The S&P 500 is down approximately 0.5%, trading around 5,646, while the Dow Jones Industrial Average has fallen about 0.4% to 42,064. The tech-heavy Nasdaq Composite is experiencing a steeper decline of around 0.6%, hovering at 19,486.
This follows yesterday’s mixed close where the S&P 500 rose 0.4% to finish at 5,633.07, the Nasdaq Composite gained 0.9% to end at 17,449.89, while the Dow Jones Industrial Average fell marginally by less than 0.1% to close at 41,989.96.
Trump’s Tariff Announcement: The Market’s Main Focus
All eyes are on the White House today as President Trump is set to announce his reciprocal tariff policy at 4 p.m. ET. Dubbed by the administration as “America’s liberation day,” these tariffs are expected to take effect immediately upon announcement.
Market participants remain deeply concerned about the potential economic impact of these new trade policies. White House press secretary Karoline Leavitt has emphasized the significance of today’s announcement, stating, “April 2, 2025, will go down as one of the most important days in modern American history.”
Reports suggest that Trump may be considering imposing blanket tariffs as high as 20% on trading partners, which has heightened fears of a potential trade war as countries might respond with retaliatory measures.
Economic Data Signals Potential Challenges
Recent economic indicators have added to market concerns. Manufacturing data released yesterday showed troubling signs, with the ISM manufacturing PMI contracting to 49% in March from 50.3% in February, falling below the consensus estimate of 49.5%. Any reading below 50% indicates contraction in manufacturing activities.
The prices paid index increased to 69.4% in March from 62.4% in February, reaching its highest level since June 2022, which suggests rising inflationary pressures that could complicate the Federal Reserve’s monetary policy decisions.
Job openings data also showed weakness, with February’s reading marking the lowest level since September 2024 and staying near early 2021 levels.
Upcoming Earnings Season: What to Watch
As we enter April, investors are also preparing for the first-quarter earnings season, which is scheduled to begin during the second full week of the month. Banking giants JPMorgan Chase (JPM) and Wells Fargo (WFC) will lead the earnings reports on April 11.
According to analysts at FactSet, the S&P 500 companies are estimated to show a year-over-year earnings growth rate of 7.3%, which would mark the seventh consecutive quarter of earnings growth for the index.
Key companies reporting earnings in the coming weeks include:
– April 11: BlackRock (BLK), JPMorgan Chase (JPM), Wells Fargo (WFC)
– April 15: Bank of America (BAC), Citigroup (C), Johnson & Johnson (JNJ)
– April 16: Abbott Laboratories (ABT)
– April 17: American Express (AXP), Taiwan Semiconductor (TSM), UnitedHealth (UNH), Netflix (NFLX)
– April 22: Tesla (TSLA), Visa (V), Verizon (VZ)
– April 24: Microsoft (MSFT), Alphabet (GOOGL), Intel (INTC)
Major Stock Movements and News
Tesla (TSLA) shares are showing resilience today, rising approximately 2.35% to $265.25 despite having a difficult year overall. The electric vehicle maker has ambitious plans for the future, including the rollout of a more affordable vehicle in the first half of the year, the launch of an autonomous driving network this summer in Austin, and the production of several thousand humanoid robots called Optimus.
However, Tesla’s growth has slowed significantly, with revenue rising just 1% year-over-year in 2024 and its core automotive business revenue falling 8% year-over-year in the fourth quarter of 2024.
NVIDIA (NVDA) is experiencing a slight decline today, down 1.14% to $107.15. The chip giant remains one of the most watched stocks as it continues to dominate the AI hardware market. Interestingly, Tesla now has the fourth-largest short position among stocks, trailing only NVIDIA, Microsoft (MSFT), and Apple (AAPL).
Johnson & Johnson (JNJ) was yesterday’s major loser among Dow components, with the pharmaceutical giant’s stock tumbling 7.6%. The downward trend continues today with the stock down an additional 4.68% to $158.08.
Looking Ahead: Market Catalysts
Beyond today’s tariff announcement, investors will be closely watching Friday’s jobs report for March, which will provide crucial insights into the health of the labor market and potentially influence Federal Reserve policy decisions.
The market remains in a state of heightened uncertainty, with March having been the worst month for the S&P 500 since December 2022. The benchmark index entered its first technical correction since 2023 early in the month and finished March down 5.8%.
As we navigate through April, market participants will need to carefully assess the impact of Trump’s tariff policies, upcoming earnings reports, and economic data to gauge the direction of the market in the coming months.