Stock Market Today: Tariffs, Earnings, and Fed Chair Testimony Shape Trading Landscape
The stock market on Tuesday, February 11, 2025, is navigating a complex landscape of tariffs, corporate earnings, and anticipated testimony from Federal Reserve Chair Jerome Powell. As investors digest these developments, major indexes are showing mixed performance in early trading.
Current Market Performance
As of 9:30 AM EST, the major U.S. stock indexes are trending lower:
– The S&P 500 is down 0.28% at 6,056.25 points
– The Dow Jones Industrial Average has slipped 0.16% to 44,398.20
– The Nasdaq Composite is down 0.20% at 19,675.48
This slight 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 Impact Steel and Aluminum Stocks
A significant factor influencing today’s market is President Donald Trump’s executive order implementing 25% tariffs on steel and aluminum imports. The tariffs, set to take effect on March 4, 2025, will apply to approximately 25 million tons of steel that the U.S. imports annually, primarily from Canada, Mexico, Brazil, and South Korea.
The news has boosted U.S. metal producer stocks for a second consecutive day:
– Cleveland-Cliffs (CLF) is up 4% in premarket trading
– Nucor (NUE), Steel Dynamics (STLD), U.S. Steel (X), and Alcoa (AA) are also showing gains
Corporate Earnings in Focus
Earnings reports continue to influence individual stock performances:
– Coca-Cola (KO) shares are up 3.69% after beating Q4 expectations with revenue of $11.54 billion and adjusted earnings per share of $0.55
– DuPont (DD) has surged 4.88% following strong quarterly results
– Shopify (SHOP) is down 2.00% ahead of its earnings report today
Other companies reporting earnings today include Energy Transfer (ET), Lyft (LYFT), Upstart (UPST), and Super Micro Computer (SMCI).
Upcoming Market Events
Federal Reserve Chair Jerome Powell’s testimony before Congress is the most anticipated event today. Powell will address the Senate at 10 AM EST, providing updates on the U.S. economy and the Fed’s progress in returning inflation to its 2% target. Market participants will be closely watching for any hints about future monetary policy decisions.
Major Stock News
– OpenAI CEO Sam Altman has declined an offer from an Elon Musk-led investment group to take control of the ChatGPT maker
– BP (BP) announces plans to “fundamentally reset” its strategy
– Nvidia (NVDA) remains in focus, up 0.06% as one of the most actively traded stocks
– Intel (INTC) shows strength with a 4.63% gain in early trading
Market Outlook
As investors navigate today’s complex market environment, several factors are shaping sentiment:
1. The impact of new tariffs on global trade relations
2. Ongoing corporate earnings reports and their implications for company valuations
3. Federal Reserve policy outlook and its effect on interest rates
4. Geopolitical tensions and their potential impact on global markets
Treasury yields are inching higher, with the 10-year note yield near 4.515%, reflecting market expectations for future economic conditions and monetary policy.
In commodities, WTI crude oil futures are up 1.13% at $73.14 per barrel, while gold futures have slipped 0.29% to $2,926.00 per ounce.
As the trading day unfolds, market participants will be closely monitoring Powell’s testimony and any developments related to the newly announced tariffs. These factors, combined with ongoing earnings reports, are likely to drive market sentiment and trading activity throughout the session.
Investors are advised to stay informed about these key events and their potential impact on various sectors and individual stocks as they make investment decisions in this dynamic market environment.
