Market Surge: Stocks Soar After Trump’s Tariff Announcement
Stocks surged on Wednesday following President Donald Trump’s announcement of a 90-day pause on reciprocal tariffs, excluding China. In a simultaneous post on Truth Social, Trump revealed a tariff increase on China to 125%. Treasury Secretary Scott Bessent later confirmed that tariffs on all other countries would revert to a 10% baseline during ongoing negotiations.
The Dow Jones index surged 2,962 points, up 7.9%, marking its largest single-day percentage increase since March 2020. The Nasdaq Composite jumped 12.2%, its best performance since 2001, while the S&P 500 recorded its most significant gain since 2008. Tech heavyweights including Apple (AAPL), Nvidia (NVDA), and Tesla (TSLA) propelled this market rally.
Read on for details on today’s market developments, including:
- Bullish signal that could elevate this cloud stock.
- Reasons behind analysts’ optimism for these two stocks.
- Insights into anticipated SPX trends, F’s bear note, and DAL’s earnings response.
5 Important Market Updates
- 10-Year Treasury Yield decreased after a robust bond auction and the tariff pause alleviated concerns over demand and rising interest rates. (CNBC)
- The average 30-year mortgage rate fell to 6.61%, its lowest level since October, triggering a 20% increase in applications despite global market volatility. (Reuters)
- Assessing potential impacts of a bear market on the SPX in the near term.
- Ford stock reached multi-year lows following a downgrade.
- Analyzing Delta Air Lines’ profit beat results.
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Commodity Market Reaction to Tariff Pause
Oil prices rallied on Wednesday, achieving their best session since October 2024 due to the tariff updates. May-dated West Texas Intermediate (WTI) crude surged by $2.77, or 4.7%, closing at $62.35 per barrel, recovering from an earlier low of $55.12.
Gold experienced a significant jump on Wednesday, on pace for its strongest session since March 2023. This increase was driven by a weaker dollar and renewed interest in safe-haven assets following the latest round of tariff retaliations from China. June-dated gold was last quoted at 3.7% higher, at $3,101.70 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
