Stock market today: S&P 500, Nasdaq, Dow rally after Trump pauses Canada, Mexico auto tariffs
Published On Mar 5, 2025, 4:08 PM
US stocks saw a rally on Wednesday spurred by President Trump's announcement of a one-month exemption on auto tariffs for GM, Ford, and Stellantis. This came after a period of sell-offs in the market tied to worries about the economic impact of recent tariff escalations. The tech-heavy Nasdaq Composite led the way with a 1.4% gain, while overall sentiment was buoyed by pauses in tariff implementations. However, a report indicated a slowdown in job growth, with only 77,000 jobs added in February, below expectations, suggesting potential weakness in the economy.
Stock Forecasts
F
Positive
The announcements regarding auto tariff exemptions are likely to boost the stock prices of the major automakers as they provide a temporary reprieve from potential economic harm. A focus on tariff impacts and market responses suggests these stocks may continue to perform well in the short term.
GM
Positive
General Motors may experience upward momentum following the tariff exemption news, but ongoing economic data points—such as the slowing job market—might temper investor enthusiasm in the longer term. Therefore, this rally could have a limited effect onward.
STLA
Positive
Stellantis' stock is likely to rise due to the short-term tariff relief, benefiting from investor sentiment in the automotive sector given the temporary economic stabilization these exemptions provide.
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