Market Pulse – Live UpdatesMarket Overview: April 3, 2025
The stock market is showing signs of recovery today after experiencing significant volatility following President Trump’s “Liberation Day” tariff announcement yesterday. As of midday trading on Thursday, April 3, 2025, major indexes have rebounded from yesterday’s after-hours selloff, with investors seemingly digesting the implications of the new trade policies.
The S&P 500 (^GSPC) is up 0.8%, while the Dow Jones Industrial Average (^DJI) has gained 0.7%, recovering more than 250 points. The tech-heavy Nasdaq Composite (^IXIC) is showing the strongest performance, climbing 1.1% as technology stocks lead the recovery.
Yesterday’s market reaction was initially negative after President Trump announced a 10% tariff floor on all U.S. trading partners, with some countries facing significantly higher rates. The announcement triggered a sharp selloff in futures trading, with S&P 500 futures falling 1.7% and Nasdaq 100 futures dropping 2.4% in after-hours trading.
Tesla’s Delivery Disappointment
One of the most closely watched stocks today is Tesla (TSLA), which reported disappointing first-quarter delivery numbers yesterday. The electric vehicle maker delivered 336,681 vehicles in Q1 2025, marking a 13% decline from the same period last year when it delivered approximately 387,000 vehicles.
The delivery figures fell significantly short of analyst expectations, which ranged from 360,000 to 370,000 vehicles. Tesla’s investor relations team had compiled a consensus estimate of around 377,590 deliveries.
Tesla attributed the production drop to the “changeover of Model Y lines across all four of our factories,” which led to “the loss of several weeks of production in Q1.” The company noted that “the ramp of the New Model Y continues to go well.”
Despite the disappointing numbers, Tesla’s stock has shown resilience today, trading up about 2% after initially falling on the news. The stock received a boost from reports that CEO Elon Musk may soon leave his role in the Trump administration, according to sources cited by multiple media outlets.
Upcoming Market Events
Investors are looking ahead to several key market events in the coming days and weeks:
1. CarMax (KMX) is scheduled to release its Q4 2025 earnings before market open on Thursday, April 10. Analysts are watching closely as the company is considered “well-positioned” for the upcoming tariffs of the Trump administration.
2. Lovesac Co (LOVE) will also report Q4 2025 earnings on April 10 before market open, providing insights into the consumer discretionary sector.
3. The Producer Price Index (PPI) for March will be released on Friday, April 11, with economists forecasting no change month-over-month and a 3.2% increase year-over-year. Core PPI is expected to rise 0.2% for the month and 3.3% annually.
4. The preliminary Consumer Sentiment report for April will also be released on April 11, with expectations set at 57.0, unchanged from March’s final reading.
Major Stock News
Beyond Tesla, several other major stocks are making headlines today:
– Amazon (AMZN) shares are up over 2% following reports that the tech giant has made a “last-minute bid” for TikTok, potentially expanding its digital media footprint.
– nCino (NCNO), a cloud-based financial software maker, has lost approximately a third of its value after disappointing quarterly results. The company reported a loss per share of $0.16, four times what analysts had expected.
– Texas Mineral Resources Corp (TMRC) is seeing increased activity after announcing that its chairman, Anthony Marchese, has been invited to speak at the Harvard Business School Technology and National Security Conference on April 5, 2025.
Tariff Impact on Markets
President Trump’s tariff announcement continues to reverberate through markets. The new policy includes a 10% tariff floor on all U.S. trading partners, with some countries facing significantly higher effective rates. Economists have warned that these reciprocal tariffs could “dramatically reshape the US’s trade relationships” and potentially create “deep economic consequences.”
The auto industry is particularly focused on the implications, with analysts suggesting that tariffs could “reignite used-car prices” and boost the auto-repair business. The exact impact on new vehicle prices remains uncertain due to “unknowns regarding implementation, retaliation by trade partners, and how much different manufacturers will be able to shift sourcing and production.”
Market Outlook
As we move further into April, market participants are closely monitoring how the new tariff policies will affect corporate earnings and economic data. The 10-year Treasury yield has inched up about 4 basis points to 4.19%, moving off a recent six-month low, indicating some shift in investor sentiment.
With earnings season approaching and significant economic data on the horizon, investors should prepare for continued volatility as markets adjust to the new trade landscape and digest the implications for various sectors and the broader economy.
The coming weeks will be crucial in determining whether today’s rebound represents a sustainable trend or merely a temporary pause in market uncertainty driven by significant policy changes.