Stock market today: S&P 500, Nasdaq, Dow futures climb higher as markets brace for Trump tariffs
Published On Mar 4, 2025, 2:01 AM
US stock futures rose as the market braces for new tariffs from President Trump on Canada and Mexico, which are now set to take effect. S&P 500, Nasdaq, and Dow futures increased by 0.3%, 0.5%, and 0.2% respectively. Trump stated there was no room left for negotiations, leading these countries to retaliate with their own tariffs on over $107 billion worth of US goods. Additionally, Trump's executive order doubled tariffs on China related to drug issues. Amid this, Nvidia shares fell sharply due to reports of export violations.
Stock Forecasts
SPY
Negative
The broad tariffs are likely to create volatility in the markets, particularly impacting sectors that rely heavily on imports and exports. Retailers like Best Buy and Target are set to report earnings soon, which will be crucial in assessing the impact of these tariffs on American businesses. Nvidia's drop could signal problems within the tech sector, primarily due to geopolitical tensions and regulatory pressures.
XLI
Negative
Given the increase in tariffs and potential trade conflicts, stocks associated with trade-sensitive sectors may struggle. Companies that depend on international trade could see lower earnings or increased costs, affecting their stock prices. Investors should monitor earnings reports closely for guidance on market sentiment and future trends.
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