Stocks See Support from Magnificent Seven Stocks
From Nasdaq: 2025-04-01 13:11:00
Stock indexes are mixed today, with the S&P 500 slightly up, Dow Jones down, and Nasdaq up. Concerns over new US tariffs have led to risk-off sentiment, boosting safe-haven assets like gold. Trump is set to announce reciprocal tariffs, fueling market uncertainty. Futures are up, reacting to market news.
US economic data raises stagflation concerns. Job openings fell more than expected, while the ISM manufacturing index hit a 4-month low. Inflation worries persist as prices paid sub-index rose. Construction spending exceeded expectations. Economic indicators point to challenges ahead for the US economy.
Tariff tensions continue to pressure stocks as Trump threatens reciprocal tariffs. Market focus this week includes employment data and Fed Chair Powell’s speech. Markets are pricing in a 21% chance of a rate cut post-FOMC meeting. Overseas markets are mostly up, with bonds rallying on tariff fears and economic data.
European bond yields slide as manufacturing PMI is revised down and inflation slows. Unemployment rate in Eurozone falls unexpectedly. Swaps indicate a high chance of an ECB rate cut. Economic indicators suggest challenges for the Eurozone economy amid global uncertainties.
Stocks like Tesla and tech giants are up, while chip makers and airlines slide on downgrades. Johnson & Johnson faces losses after legal setback. Cybersecurity stocks rise on analyst coverage, and restaurant chains see upgrades. Earnings reports include companies like Adverum Biotechnologies and Ultralife Corp. Market remains volatile amidst tariff concerns and economic data.
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