Live Nasdaq Composite: ORLY, AZO Gain in Face of Unrelenting Tariffs
The markets remain full of fear fueled by unrelenting tariff talk. Each of the three major stock market averages came out of the gate in the red today, the steepest losses of which are attached to the Nasdaq Composite, with a 2.2% decline. The S&P 500 is not far behind, falling 1.2%, while the Dow […] The post Live Nasdaq Composite: ORLY, AZO Gain in Face of Unrelenting Tariffs appeared first on 24/7 Wall St..
The markets remain full of fear fueled by unrelenting tariff talk. Each of the three major stock market averages came out of the gate in the red today, the steepest losses of which are attached to the Nasdaq Composite, with a 2.2% decline. The S&P 500 is not far behind, falling 1.2%, while the Dow Jones Industrial Average is reeling with a 290-point decline. Most sectors of the economy are lower, with the exception of consumer staples, with a 1% gain, and a few other risk-off categories. The gold price is rising 1% as investors flock to this safe-haven asset.
Nvidia (Nasdaq: NVDA) is a big drag on the Nasdaq Composite, falling by almost 5% on the day and a steeper 13.5% over the past five days. Tesla (Nasdaq: TSLA) is losing close to 6% this morning and is down close to a whopping 40% year-to-date.
Auto Parts retailer O’Reilly Automotive (Nasdaq: ORLY) is a bright spot, gaining 2% as one of the stock market’s best performers today. Auto-parts and used-car stocks could benefit in a tariff economy as consumers look to repair older vehicles or buy used cars to avoid the new car market, where President Trump’s 25% tariffs could trickle down to the consumer in the way of higher prices.
AutoZone (NYSE: AZO) is gaining 1.3% for the same tailwinds as ORLY.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 291.86 (-0.70%)
Nasdaq Composite: Down 404.12 (-2.31%)
S&P 500: Down 74.28 (-1.3%)
Key Points
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The markets remain in the doldrums amid unrelenting tariff talk.
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The Nasdaq Composite is suffering the worst of the declines as Big Tech falters.
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Auto parts stocks are rare gainers and are considered a defensive play in a tariff economy.
Market Movers
Pharmaceutical stock Moderna (Nasdaq: MRNA) is a big loser, falling 12.5% on the day. After autos, the pharmaceutical sector is next in line for hefty tariffs. Also, the head of the FDA has resigned, leading to some uncertainty around the future.
United Airlines (Nasdaq: UAL) is falling nearly 7%. The company has received the FAA’s green light to add Starlink access to its jets.
AI-related stock Palantir Technologies (Nasdaq: PLTR) is caught in the selling, sinking 4.3% on the day and close to revising the $80 threshold after trading as high as $125 in the past 52-week stretch.
The post Live Nasdaq Composite: ORLY, AZO Gain in Face of Unrelenting Tariffs appeared first on 24/7 Wall St..
