“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump said on his social media platform Truth Social.

Speaking with reporters later in the day, Treasury Secretary Scott Bessent said that reciprocal tariffs were a “successful negotiating strategy” while explaining that the 90-day pause actually means the return of the baseline 10% tariff rate.

Shortly after Trump’s announcement, the U.S. stocks embarked on a ferocious rally. The benchmark S&P 500 soared 9.52% or 474.13 points to close at 5,456.90. This was the biggest single-day gain for the index since 2008.

Meanwhile, the tech-heavy Nasdaq Composite recorded its second-biggest daily gain in history. It improved by 1,857.06 or 12.16% to close at 17,124.97 points.

The blue-chip Dow Jones Industrial Average jumped by 7.87% or 2,962.86 points and ended Wednesday’s session at 40,608.45.

Overall, more than 30 billion shares, worth $1.5 trillion, were traded on Wednesday, marking Wall Street’s record in the last 18 years of available data.

The post U.S. Stocks Bounce Back in a Big Way Thanks to 90-Day Pause on Tariffs appeared first on theprimarymarket.com.

The sell-off intensified on Wednesday after President Donald Trump introduced sweeping tariffs against major U.S. trade partners. It was further fueled on Friday after China responded with the introduction of 34% tariffs on all imports from the U.S.

The Dow Jones plunged by 5.50% or 2,231.07 points to close at 38,314.86. This was the first time ever that the index lost 1,500 points in back-to-back trading sessions. It is 7.41% down for the week and more than 14% down since its record high in December.

Nasdaq, on the other hand, lost 962.82 or 5.82% to end Friday’s session at 15,587.79. It slipped 8.55% for the week and has now lost roughly 23% from December’s all-time high. This puts it in the bear market territory, according to Wall Street’s definition.

The benchmark S&P 500 closed at 5,074.08 after a 322.44 or 5.97% dip. It is 8.21% down for the week and 17% down from February’s record.

Experts believe that the stock market is close to bottoming out but that the long-term consequences will be significant.

“While the market may be close to the bottom in the short-term, we are concerned about the impact of a global trade war on long-term economic growth,” Emily Bowersock Hill, the CEO of Bowersock Capital Partners, told CNBC in an interview.

The post Dow Jones Crashes More Than 2,200 Points, U.S. Stocks Endure Their Worst Week Since 2020 appeared first on theprimarymarket.com.

Tech-heavy Nasdaq performed even better, rising by 1.22% or 212.35 points for a 17,648.45 close. However, it was insufficient to erase losses from the previous two days.

S&P 500 jumped by 0.49% or 27.23 points to close at 5,599.30. The benchmark index still remains close to 3% down since the beginning of the week.

The blue-chip Dow Jones Industrial Average closed at 41,350.93 points after a slip of 0.20% or 82.55 points. It has now lost 3.4% since Monday morning.

Tech stocks have been leading the rebound, with Nvidia jumping by 6.4% and Tesla gaining 7.6%. Microsoft, Amazon, Alphabet, and Meta also recorded gains with Apple being the only member of Magnificient seven to end the day in the red.

After worries about the state of the U.S. economy prompted a broad sell-off in the past couple of days, investors received some encouraging news on Wednesday. U.S. President Donald Trump made tweaks to his tariff policy changes and granted an exemption for U.S. automakers. Additionally, the Labor Department’s report showed that the inflation in February eased, coming below the expectations of economists.

The post Nasdaq and S&P 500 Close in the Green as Stocks Show Signs of Recovery appeared first on theprimarymarket.com.

The S&P 500 closed at a record 6,129.58 points on Tuesday before improving by another 14.57 points or 0.24% on Wednesday for a 6,144.15 close. The index also cleared its intra-day record, reaching 6,146.80 at one point.

Nasdaq soared to 20,097.73 in the afternoon before sliding to a modest gain of 14.99 points or 0.07% to close at 20,056.25. Dow Jones jumped by 71.25 or 0.16% to end the day at 44,627.59 points.

Investors are still waiting to see the full impact of the new tariff regulation that includes a 25% tariff on imports of steel and aluminum into the United States. Additionally, the new administration announced a reciprocal tariffs policy that could become effective in April.

Additionally, the markets are digesting the minutes from the Fed’s January meeting, which were released on Wednesday. According to the release, Federal Open Market Committee officials are waiting for “further progress on inflation” before thinking about adjusting interest rates.

“Many participants noted that the Committee could hold the policy rate at a restrictive level if the economy remained strong and inflation remained elevated, while several remarked that policy could be eased if labor market conditions deteriorated, economic activity faltered, or inflation returned to 2 percent more quickly than anticipated,” the released noted.

The post S&P 500 Closes At All-Time High for Second Straight Day, Nasdaq and Dow Jones Also Record Gains appeared first on theprimarymarket.com.

The CPI increased by 0.4% on a seasonally adjusted basis in the last month of 2024 compared to a 0.3% jump in November while putting the 12-month inflation at 2.9%. Economists predicted a 0.3% jump and 12-month inflation of 2.9%.

However, the core CPI, which excludes volatile prices of food and gas and is the Federal Reserve’s preferred measure of inflation, has been favorable and came below expectations. It saw a jump of 0.2% and came at an annual rate of 3.2%, while economists expected a 0.3% increase and an annual rate of 3.3%.

The CPI report had a positive effect on the stock market, which rebounded following a sluggish start of the week. Benchmark S&P 500 improved by 107 points or 1.83% to close at 5,949.91, blue-chip Dow Jones Industrial Average experienced 703.27 points or 1.65% to close at 43,221.55, while the tech-heavy Nasdaq soared by 2.45% or 466.84  for a 19,511.23 points close. 

Experts believe that the CPI numbers won’t change the Fed’s intention to pause with rate cuts but should calm any concerns about interest rates going up.

“Today’s CPI may help the Fed feel a little more dovish. It won’t change expectations for a pause later this month, but it should curb some of the talk about the Fed potentially raising rates,” Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, told CNBC. “And judging by the market’s initial response, investors appeared to feel a sense of relief after a few months of stickier inflation readings.”

The post Consumer Price Index Rises in December, But Shows Encouraging Trend appeared first on theprimarymarket.com.

Benchmark S&P 500 lost 1.54% or 91.21 points to close at 5,827.04 and 0.7% down for the week. Tech-heavy Nasdaq closed at 19,161.63 after a 1.63% or 317.25 points dip, while blue-chip Dow Jones sank by 1.63% or 696.75 points for a 41,938.45 close on Friday. Nasdaq and Dow Jones are down by 0.6% and 1.1%, respectively, for the week.

The slump in the stock market was a direct result of Friday’s U.S. jobs report showing that the economy added 256,000 non-farm payrolls in December compared to 212,000 in the month prior and 155,000 expected by economists. Additionally, the unemployment rate slipped to 4.1% versus predictions of 4.25%.

“Good news for the economy but not for the markets, at least for now,” Scott Wren, senior global market strategist at Wells Fargo Investment Institute, told CNBC. “However, this unexpected gain relative to the consensus projection does not change our view that the labor market is likely to decelerate further in coming quarters.”

The strong labor market, as well as inflation concerns, will likely prompt the Fed to adopt a slower approach to future interest rate cuts. The expectation is that there will be two rate cuts this year and none before June.

The post S&P 500, Dow Jones, and Nasdaq Plunge on Surprising U.S. Jobs Report appeared first on theprimarymarket.com.

S&P 500 jumped by 1.26% or 73.92 points to close at 5,942.47, while Nasdaq closed at 19,621.68 after gaining 1.77% or 340.88. However, the S&P 500 lost 0.48% for the week, while the Nasdaq was down 0.51%.

The blue-chip Dow Jones Industrial Average rose by 0.80%, or 339.86, to close at 42,732.13 on Friday. However, it suffered the biggest weekly slide among major indexes, with a loss of 0.60%.

Tech stocks were the biggest drivers of Friday’s rally. Electric vehicle maker Tesla jumped by 8.22% after record-high sales in China, while chipmaker Nvidia improved by 4.45%, and server company Super Micro Computer climbed by almost 11%. However, these gains were not enough for the so-called “Santa Claus rally” to materialize.

Santa Claus rally refers to a historical trend in stocks records significant gains on the last five days of December and the first two days of the New Year. However, most experts believe that this shouldn’t be an indicator of stock performance in 2025 but a sign that many investors decided to take time and consolidate their portfolios before engaging in trading activity once again. 

The post Stocks Jump After Sluggish Start of 2025, S&P 500 and Nasdaq Snap Losing Streaks appeared first on theprimarymarket.com.

The S&P 500 shed 1.11% or 66.75 to close at 5,970.84 points. The benchmark index still finished with a 0.66% weekly gain on the back of a strong Christmas Eve trading day.

The blue-chip Dow Jones Industrial Average closed at 42,992.21 following a dip of 0.77% or 333.59 points. It finished 0.47% up for the week, breaking a three-week losing streak.

The tech-heavy Nasdaq Composite expectedly had the biggest slide. It lost 1.49%, or 298.33 points, closing at 19,722.03. However, it also notched the biggest weekly gain, roughly 0.8%.

A big part of Friday’s slump was investors deciding to take profit on the souring tech stocks. Electric vehicle maker Tesla dropped by 4.95% after being up by as much as 10% earlier in the week. Chipmaker Nvidia lost 2.03% while iPhone maker Apple finished the day being 1.30%.

The time of year also played a role, with many investors rebalancing their portfolios or adjusting to different valuations.

However, the stock market is expected to improve at the start of 2025.

“The nation is experiencing a collective sigh of relief after navigating through a contentious election cycle and unusual market dynamics to end 2024 with strong year-to-date gains,” Todd Ahlsten chief investment officer at Parnassus Investments, told CNBC. “Looking ahead to 2025, the markets are expected to broaden and improve.”

The post Stocks Decline on Big Tech Slump But Finish the Week in the Green appeared first on theprimarymarket.com.

Earlier in December, Nasdaq 100 announced that it would welcome MicroStrategy, Palantir Technologies, and Axon Enterprise as part of its annual reshuffle. In a corresponding move, the index dropped server producer Super Micro Computer, vaccine maker Moderna, and biotechnology company Illumina.

The shares of MicroStrategy, the business intelligence firm that is also the world’s largest corporate holder of Bitcoin, closed down by 8.78% before slightly bouncing back in after-hours trading. At the current close of $332.23 per share, the company’s stock still remains 384.87% up year-to-date.

Data analytics company Palantir, which has benefited from the artificial intelligence boom, saw its stock dip by more than 3% early on Monday before erasing the losses later in the day. The company’s stock closed flat at $80.69 and is currently up 386.67% for the year.

Axon’s stock dropped by 2.5% before rebounding to a loss of 1.20% by the close. At the price of $624.14, the shares of this weapons technology firm are up 148.04% year-to-date.

The post MicroStrategy, Palantir, and Axon Stocks Undeperform on Their First Nasdaq 100 Day appeared first on theprimarymarket.com.

The benchmark S&P 500 gained 1.09% or 63.77 points to close at 5,930.85, while the tech-heavy Nasdaq Composite closed at 19,572.60 following a 1.03% or 199.83 points jump. The blue-chip Dow Jones Industrial Average was up by 498.02 points or 1.18% for a close of 42,840.26.

Despite the rally, the major indexes failed to mitigate the losses they took earlier in the week. Dow Jones ended the week down 2.25%, while the S&P 500 and Nasdaq notched losses of 2.19% and 2.22%, respectively.

The U.S. stock market being in the red for this week was a result of a major sell-off on Wednesday amid the Federal Reserve’s decision to cut its borrowing rates by 25 basis points. This followed a projection of fewer rate cuts in 2025 compared to previous expectations. The traders previously expected at least four rate cuts next year while the officials forecast just two.

However, the market reacted positively to the latest Personal Consumption Expenditures (PCE) index release. In November, the core PCE, which excludes volatile food and energy prices, increased by 0.1%, coming below the projected 0.2% and showing deceleration from October’s 0.3% increase.

The post U.S. Stock Bounce Back on New Inflation Data appeared first on theprimarymarket.com.

“I have authorized a 90-day PAUSE, and a substantially lowered Reciprocal Tariff during this period, of 10%, also effective immediately,” Trump said on his social media platform Truth Social.

Speaking with reporters later in the day, Treasury Secretary Scott Bessent said that reciprocal tariffs were a “successful negotiating strategy” while explaining that the 90-day pause actually means the return of the baseline 10% tariff rate.

Shortly after Trump’s announcement, the U.S. stocks embarked on a ferocious rally. The benchmark S&P 500 soared 9.52% or 474.13 points to close at 5,456.90. This was the biggest single-day gain for the index since 2008.

Meanwhile, the tech-heavy Nasdaq Composite recorded its second-biggest daily gain in history. It improved by 1,857.06 or 12.16% to close at 17,124.97 points.

The blue-chip Dow Jones Industrial Average jumped by 7.87% or 2,962.86 points and ended Wednesday’s session at 40,608.45.

Overall, more than 30 billion shares, worth $1.5 trillion, were traded on Wednesday, marking Wall Street’s record in the last 18 years of available data.

The post U.S. Stocks Bounce Back in a Big Way Thanks to 90-Day Pause on Tariffs appeared first on theprimarymarket.com.

The sell-off intensified on Wednesday after President Donald Trump introduced sweeping tariffs against major U.S. trade partners. It was further fueled on Friday after China responded with the introduction of 34% tariffs on all imports from the U.S.

The Dow Jones plunged by 5.50% or 2,231.07 points to close at 38,314.86. This was the first time ever that the index lost 1,500 points in back-to-back trading sessions. It is 7.41% down for the week and more than 14% down since its record high in December.

Nasdaq, on the other hand, lost 962.82 or 5.82% to end Friday’s session at 15,587.79. It slipped 8.55% for the week and has now lost roughly 23% from December’s all-time high. This puts it in the bear market territory, according to Wall Street’s definition.

The benchmark S&P 500 closed at 5,074.08 after a 322.44 or 5.97% dip. It is 8.21% down for the week and 17% down from February’s record.

Experts believe that the stock market is close to bottoming out but that the long-term consequences will be significant.

“While the market may be close to the bottom in the short-term, we are concerned about the impact of a global trade war on long-term economic growth,” Emily Bowersock Hill, the CEO of Bowersock Capital Partners, told CNBC in an interview.

The post Dow Jones Crashes More Than 2,200 Points, U.S. Stocks Endure Their Worst Week Since 2020 appeared first on theprimarymarket.com.

Tech-heavy Nasdaq performed even better, rising by 1.22% or 212.35 points for a 17,648.45 close. However, it was insufficient to erase losses from the previous two days.

S&P 500 jumped by 0.49% or 27.23 points to close at 5,599.30. The benchmark index still remains close to 3% down since the beginning of the week.

The blue-chip Dow Jones Industrial Average closed at 41,350.93 points after a slip of 0.20% or 82.55 points. It has now lost 3.4% since Monday morning.

Tech stocks have been leading the rebound, with Nvidia jumping by 6.4% and Tesla gaining 7.6%. Microsoft, Amazon, Alphabet, and Meta also recorded gains with Apple being the only member of Magnificient seven to end the day in the red.

After worries about the state of the U.S. economy prompted a broad sell-off in the past couple of days, investors received some encouraging news on Wednesday. U.S. President Donald Trump made tweaks to his tariff policy changes and granted an exemption for U.S. automakers. Additionally, the Labor Department’s report showed that the inflation in February eased, coming below the expectations of economists.

The post Nasdaq and S&P 500 Close in the Green as Stocks Show Signs of Recovery appeared first on theprimarymarket.com.

The S&P 500 closed at a record 6,129.58 points on Tuesday before improving by another 14.57 points or 0.24% on Wednesday for a 6,144.15 close. The index also cleared its intra-day record, reaching 6,146.80 at one point.

Nasdaq soared to 20,097.73 in the afternoon before sliding to a modest gain of 14.99 points or 0.07% to close at 20,056.25. Dow Jones jumped by 71.25 or 0.16% to end the day at 44,627.59 points.

Investors are still waiting to see the full impact of the new tariff regulation that includes a 25% tariff on imports of steel and aluminum into the United States. Additionally, the new administration announced a reciprocal tariffs policy that could become effective in April.

Additionally, the markets are digesting the minutes from the Fed’s January meeting, which were released on Wednesday. According to the release, Federal Open Market Committee officials are waiting for “further progress on inflation” before thinking about adjusting interest rates.

“Many participants noted that the Committee could hold the policy rate at a restrictive level if the economy remained strong and inflation remained elevated, while several remarked that policy could be eased if labor market conditions deteriorated, economic activity faltered, or inflation returned to 2 percent more quickly than anticipated,” the released noted.

The post S&P 500 Closes At All-Time High for Second Straight Day, Nasdaq and Dow Jones Also Record Gains appeared first on theprimarymarket.com.

The CPI increased by 0.4% on a seasonally adjusted basis in the last month of 2024 compared to a 0.3% jump in November while putting the 12-month inflation at 2.9%. Economists predicted a 0.3% jump and 12-month inflation of 2.9%.

However, the core CPI, which excludes volatile prices of food and gas and is the Federal Reserve’s preferred measure of inflation, has been favorable and came below expectations. It saw a jump of 0.2% and came at an annual rate of 3.2%, while economists expected a 0.3% increase and an annual rate of 3.3%.

The CPI report had a positive effect on the stock market, which rebounded following a sluggish start of the week. Benchmark S&P 500 improved by 107 points or 1.83% to close at 5,949.91, blue-chip Dow Jones Industrial Average experienced 703.27 points or 1.65% to close at 43,221.55, while the tech-heavy Nasdaq soared by 2.45% or 466.84  for a 19,511.23 points close. 

Experts believe that the CPI numbers won’t change the Fed’s intention to pause with rate cuts but should calm any concerns about interest rates going up.

“Today’s CPI may help the Fed feel a little more dovish. It won’t change expectations for a pause later this month, but it should curb some of the talk about the Fed potentially raising rates,” Ellen Zentner, chief economic strategist at Morgan Stanley Wealth Management, told CNBC. “And judging by the market’s initial response, investors appeared to feel a sense of relief after a few months of stickier inflation readings.”

The post Consumer Price Index Rises in December, But Shows Encouraging Trend appeared first on theprimarymarket.com.

Benchmark S&P 500 lost 1.54% or 91.21 points to close at 5,827.04 and 0.7% down for the week. Tech-heavy Nasdaq closed at 19,161.63 after a 1.63% or 317.25 points dip, while blue-chip Dow Jones sank by 1.63% or 696.75 points for a 41,938.45 close on Friday. Nasdaq and Dow Jones are down by 0.6% and 1.1%, respectively, for the week.

The slump in the stock market was a direct result of Friday’s U.S. jobs report showing that the economy added 256,000 non-farm payrolls in December compared to 212,000 in the month prior and 155,000 expected by economists. Additionally, the unemployment rate slipped to 4.1% versus predictions of 4.25%.

“Good news for the economy but not for the markets, at least for now,” Scott Wren, senior global market strategist at Wells Fargo Investment Institute, told CNBC. “However, this unexpected gain relative to the consensus projection does not change our view that the labor market is likely to decelerate further in coming quarters.”

The strong labor market, as well as inflation concerns, will likely prompt the Fed to adopt a slower approach to future interest rate cuts. The expectation is that there will be two rate cuts this year and none before June.

The post S&P 500, Dow Jones, and Nasdaq Plunge on Surprising U.S. Jobs Report appeared first on theprimarymarket.com.

S&P 500 jumped by 1.26% or 73.92 points to close at 5,942.47, while Nasdaq closed at 19,621.68 after gaining 1.77% or 340.88. However, the S&P 500 lost 0.48% for the week, while the Nasdaq was down 0.51%.

The blue-chip Dow Jones Industrial Average rose by 0.80%, or 339.86, to close at 42,732.13 on Friday. However, it suffered the biggest weekly slide among major indexes, with a loss of 0.60%.

Tech stocks were the biggest drivers of Friday’s rally. Electric vehicle maker Tesla jumped by 8.22% after record-high sales in China, while chipmaker Nvidia improved by 4.45%, and server company Super Micro Computer climbed by almost 11%. However, these gains were not enough for the so-called “Santa Claus rally” to materialize.

Santa Claus rally refers to a historical trend in stocks records significant gains on the last five days of December and the first two days of the New Year. However, most experts believe that this shouldn’t be an indicator of stock performance in 2025 but a sign that many investors decided to take time and consolidate their portfolios before engaging in trading activity once again. 

The post Stocks Jump After Sluggish Start of 2025, S&P 500 and Nasdaq Snap Losing Streaks appeared first on theprimarymarket.com.

The S&P 500 shed 1.11% or 66.75 to close at 5,970.84 points. The benchmark index still finished with a 0.66% weekly gain on the back of a strong Christmas Eve trading day.

The blue-chip Dow Jones Industrial Average closed at 42,992.21 following a dip of 0.77% or 333.59 points. It finished 0.47% up for the week, breaking a three-week losing streak.

The tech-heavy Nasdaq Composite expectedly had the biggest slide. It lost 1.49%, or 298.33 points, closing at 19,722.03. However, it also notched the biggest weekly gain, roughly 0.8%.

A big part of Friday’s slump was investors deciding to take profit on the souring tech stocks. Electric vehicle maker Tesla dropped by 4.95% after being up by as much as 10% earlier in the week. Chipmaker Nvidia lost 2.03% while iPhone maker Apple finished the day being 1.30%.

The time of year also played a role, with many investors rebalancing their portfolios or adjusting to different valuations.

However, the stock market is expected to improve at the start of 2025.

“The nation is experiencing a collective sigh of relief after navigating through a contentious election cycle and unusual market dynamics to end 2024 with strong year-to-date gains,” Todd Ahlsten chief investment officer at Parnassus Investments, told CNBC. “Looking ahead to 2025, the markets are expected to broaden and improve.”

The post Stocks Decline on Big Tech Slump But Finish the Week in the Green appeared first on theprimarymarket.com.

Earlier in December, Nasdaq 100 announced that it would welcome MicroStrategy, Palantir Technologies, and Axon Enterprise as part of its annual reshuffle. In a corresponding move, the index dropped server producer Super Micro Computer, vaccine maker Moderna, and biotechnology company Illumina.

The shares of MicroStrategy, the business intelligence firm that is also the world’s largest corporate holder of Bitcoin, closed down by 8.78% before slightly bouncing back in after-hours trading. At the current close of $332.23 per share, the company’s stock still remains 384.87% up year-to-date.

Data analytics company Palantir, which has benefited from the artificial intelligence boom, saw its stock dip by more than 3% early on Monday before erasing the losses later in the day. The company’s stock closed flat at $80.69 and is currently up 386.67% for the year.

Axon’s stock dropped by 2.5% before rebounding to a loss of 1.20% by the close. At the price of $624.14, the shares of this weapons technology firm are up 148.04% year-to-date.

The post MicroStrategy, Palantir, and Axon Stocks Undeperform on Their First Nasdaq 100 Day appeared first on theprimarymarket.com.

The benchmark S&P 500 gained 1.09% or 63.77 points to close at 5,930.85, while the tech-heavy Nasdaq Composite closed at 19,572.60 following a 1.03% or 199.83 points jump. The blue-chip Dow Jones Industrial Average was up by 498.02 points or 1.18% for a close of 42,840.26.

Despite the rally, the major indexes failed to mitigate the losses they took earlier in the week. Dow Jones ended the week down 2.25%, while the S&P 500 and Nasdaq notched losses of 2.19% and 2.22%, respectively.

The U.S. stock market being in the red for this week was a result of a major sell-off on Wednesday amid the Federal Reserve’s decision to cut its borrowing rates by 25 basis points. This followed a projection of fewer rate cuts in 2025 compared to previous expectations. The traders previously expected at least four rate cuts next year while the officials forecast just two.

However, the market reacted positively to the latest Personal Consumption Expenditures (PCE) index release. In November, the core PCE, which excludes volatile food and energy prices, increased by 0.1%, coming below the projected 0.2% and showing deceleration from October’s 0.3% increase.

The post U.S. Stock Bounce Back on New Inflation Data appeared first on theprimarymarket.com.