Stock market today: Dow, S&P 500, Nasdaq futures rise as Trump pauses tariffs on Canada, Mexico
Published On Feb 3, 2025, 7:50 PM
U.S. stock futures rose as President Trump paused the implementation of tariffs on Canada and Mexico for 30 days. As a result, Dow, S&P 500, and Nasdaq futures increased by 0.3%, 0.5%, and 0.7%, respectively. Meanwhile, Trump’s 10% tariff on Chinese goods is still set to go into effect as planned, raising concerns for companies with exposure to China, notably impacting stocks like Nvidia (NVDA), Apple (AAPL), and Tesla (TSLA). In contrast, Palantir (PLTR) posted strong revenue forecasts, causing its stock to soar by nearly 24%. Overall, this temporary delay in tariffs is seen as positive for the broader market, while specific sectors remain vulnerable to ongoing trade tensions with China.
Stock Forecasts
SPY
Positive
The pause on tariffs against Canada and Mexico can provide short-term relief for trade-sensitive stocks and could positively influence market sentiment.
AAPL
Negative
Companies with significant exposure to Chinese tariffs, especially tech stocks, are likely to face continued pressure due to ongoing uncertainties. Tesla, Nvidia, and Apple may see their stocks continue to decline amidst trade tensions with China.
PLTR
Positive
Palantir's strong earnings forecast suggests momentum for their stock, and investors may look to capitalize on this growth.
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