Live Nasdaq Composite: Markets Stand Still on Tariff and Tech Tussle

Live Updates

Live Coverage Updates appear automatically as they are published.

Tariffs, Earnings and Tech

10:00 am by Gerelyn Terzo

The markets continue to trade mixed this morning as Q1 earnings results pour in. Stocks are weighing earnings results and a lack of certainty on the tariff deal front while tensions have emerged between Amazon (Nasdaq: AMZN) and the White House over tariff-related costs.

Magnificent Seven stocks are mixed, with Amazon and Alphabet (Nasdaq: GOOGL) trading in the red while Nvidia (Nasdaq: NVDA) benefits from a Wall Street endorsement.

Hims & Hers HEalth (Nasdaq: HIMS) is soaring by 24% today on news of a deal to sell weight loss drug phenom Wegovy on its e-commerce platform.

 

The markets are holding out for more tariff deal progress, digging in their heels and nearly standing still in the meantime. The three major stock market averages are moving fractionally in either direction, with the Nasdaq Composite posting slight declines alongside the S&P 500 while the Dow Jones Industrial Average is eking out modest gains. Sectors of the economy are evenly split between red and green, with real estate moving higher and consumer discretionary stocks headed lower.

Amazon (Nasdaq: AMZN) is getting some unwanted attention after the White House took aim at the tech giant, calling its reported plans to list tariff cost impacts on its site as a “hostile and political act.”

Big 3 automaker General Motors (NYSE: GM) reported better-than-expected quarterly results while reassessing its full-year outlook, sending the stock lower by 1.5%. GM and the auto sector have targets on their backs at the height of the tariff wars, in response to which the former Dow component has suspended all share buyback programs. The White House has affirmed its plans to provide tariff relief to the auto sector.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 138.11 (+0.36%)
Nasdaq Composite: Down 67.15 (-0.40%)
S&P 500: Down 10.23 (-0.19%)

Analyst Calls

Coca-Cola (NYSE: KO) surpassed Q1 expectations on the top and bottom lines and is keeping its full-year guidance intact amid expectations that it will be able to manage any tariff-related fallout, including rising aluminum costs. Rival company PepsiCo (NYSE: PEP) recently lowered its earnings forecast due to the tariff impact.

Evercore ISI has reiterated its “outperform” rating on Apple (Nasdaq: AAPL) stock with a $250 price target, suggesting the company’s strategies should help it to offset any impact from the tariff frenzy.

Piper Sandler has reiterated its “overweight” rating on Nvidia (Nasdaq: NVDA), saying that the China tariff uncertainties notwithstanding, the AI leader’s strong market relationships give the stock a place in the analyst firm’s top large cap pick universe.

UBS has reiterated its “buy” rating on Amazon (Nasdaq: AMZN) but lowered the price target to $253 from $272, owing to what it described as “potential demand destruction.”

The post Live Nasdaq Composite: Markets Stand Still on Tariff and Tech Tussle appeared first on 24/7 Wall St..