Stocks rise as reciprocal tariffs introduced, oil prices and gold futures climb

From Nasdaq: 2025-04-02 16:26:00

Despite tariff uncertainty and mixed jobs data, the major stock indexes saw modest gains today. President Trump announced a switch to a tiered, reciprocal tariff system. In other news, Elon Musk is reportedly leaving his advisory role in the Trump administration, and Wisconsin voted for Susan Crawford over Brad Schimel in a judicial race. EV stocks struggled, while pet supply retail stocks received a boost. Oil prices edged higher, and gold futures continued to climb towards record highs.

Oil prices rose cautiously as investors watched for the impact of Trump’s tariffs, with WTI crude settling at $71.71 per barrel. Gold futures also increased, with June gold reaching $3,166.20 an ounce.



Read more at Nasdaq: Stocks Settle Higher as Reciprocal Tariffs Unveiled