Stock market today: Dow, S&P 500, Nasdaq bounce back as Trump tariff move buoys steelmakers
Published On Feb 10, 2025, 9:30 AM
U.S. stocks experienced an uptick as investors reacted to President Trump's announcement of new tariffs on steel and aluminum imports. The Dow Jones, S&P 500, and Nasdaq all posted gains, aided by significant stock rises in U.S. steel companies like Cleveland-Cliffs and Nucor. The tariffs are expected to impact markets as they could lead to inflationary pressures, which may stall interest rate cuts. Key inflation data will be released soon, and many S&P 500 companies are set to report earnings this week.
Stock Forecasts
CLF
Positive
The announcement of tariffs is likely to boost the stock prices of U.S steel companies, as anticipated increased costs for foreign steel will enhance domestic company's competitiveness.
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