Agencies
New York
Wall Street stocks were mixed on Tuesday, with Apple rising and Nvidia dipping as investors assessed consumer sentiment data and bet on a more flexible trade policy stance from the Trump administration next week.
US President Donald Trump said on Monday that automobile tariffs were coming soon, while suggesting that not all proposed tariffs would be enforced in an April 2 announcement on which Wall Street is focused.
“I don’t expect that we’ll get the clarity that the market is hoping for, but investors are desperate for any sort of clarity on this front, and to the extent they’ll get some of it, it’s a huge day,” said Ross Mayfield, an investment strategist at Baird.
Weighed by worries that Trump’s tariffs would fuel inflation and hurt economic growth, the S&P 500 is down nearly 2 percent so far in 2025, and it is on track for its first quarterly loss since June 2023.
Ratings agency Moody’s said on Tuesday that the United States’ fiscal strength is on track for a continued multiyear decline as budget deficits widen and debt becomes less affordable.
Another report revealed, opens new tab a dip in consumer confidence, with the index falling to 92.9 in March - its lowest since February 2021.
Apple rose 1.4 percent, helping keep the Nasdaq in positive territory, while Nvidia slid 0.6 percent.
This is a line chart that shows a consumer confidence index over the past 20 years. In the month of March, the overall index was 92.9, the view of the current economy was 134.5 and expectations for the future were 65.2.
This is a line chart that shows a consumer confidence index over the past 20 years. In the month of March, the overall index was 92.9, the view of the current economy was 134.5 and expectations for the future were 65.2.
Tesla shares were near unchanged after a 12 percent rally the previous day.
Tesla’s market share in Europe continued to shrink in February as sales of the all-electric car maker dropped for a second month, even as EV registrations overall on the continent grew.
KB Home fell 4 percent after the homebuilder cut its full-year 2025 revenue forecast.
The S&P 500 was up 0.01 percent at 5,768.19 points.
The Nasdaq gained 0.25 percent to 18,233.50 points, while the Dow Jones Industrial Average was down 0.14 percent at 42,521.73 points.
Of the 11 S&P 500 sector indexes, six rose, led by communication services up 1.1 percent, followed by a 0.28 percent gain in energy.
Fed Governor Adriana Kugler said the central bank’s interest rate policy remains restrictive, but progress on bringing inflation back to the central bank’s 2 percent target has slowed.
New York Fed President John Williams said firms and households are “experiencing heightened uncertainty” about what lies ahead for the economy.
Among a cascade of economic indicators scheduled this week, focus will be on the personal consumption expenditures price index - the Fed’s preferred inflation gauge - due on Friday.
CrowdStrike gained 3.3 percent after brokerage BTIG raised its rating on the cybersecurity company to “buy” from “neutral.”
Declining stocks outnumbered rising ones within the S&P 500 by a 1.4-to-one ratio. The S&P 500 posted 11 new highs and 3 new lows; the Nasdaq recorded 35 new highs and 129 new lows.
