S&P 500 (NYSEARCA: SPY) Live: NEM (NYSE: NEM), DLTR (Nasdaq: DLTR) Buck Downward Trend
Live Updates Live Coverage Updates appear automatically as they are published. Stock Market Sentiment Turns for Worse 10:48 am by Gerelyn Terzo The markets are paying little attention to President Trump’s tariff pause, choosing instead to focus on the possibility of an economic recession or even depression. The three major stock market averages remain under […] The post S&P 500 (NYSEARCA: SPY) Live: NEM (NYSE: NEM), DLTR (Nasdaq: DLTR) Buck Downward Trend appeared first on 24/7 Wall St..
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Stock Market Sentiment Turns for Worse
The markets are paying little attention to President Trump’s tariff pause, choosing instead to focus on the possibility of an economic recession or even depression. The three major stock market averages remain under intense selling pressure, including a 2.6% drop in the S&P 500 today.
Wall Street firm Citigroup has upgraded its outlook on U.S. stocks now that President Trump has found tariff middle ground. So far that improved forecast has failed to lift sentiment in a fear-filled market.
The markets resumed their usual ways today in a tariff-fear sparked sell-off that put an abrupt halt to yesterday’s massive rally. The S&P 500 is spiraling by 2.5% on the day, as talk of recession and even depression make their way into these headline-driven markets. Yesterday was one of the best days in history on Wall Street, but the excitement has been replaced by a massive dose of fear despite progress on tariffs.
The markets are seemingly ignoring the latest economic data revealing that inflation is headed in the right direction – lower. March’s CPI report showed inflation eased to 2.4%, a refreshing surprise compared with 2.8% in the previous month. Stocks have a one-track mind and it is on tariffs.
Dollar Tree (Nasdaq: DLTR) is gaining 2.4% on the day. Discount retailers are in a defensive position in this uncertain economy where a recession could be knocking on the door. Dow Jones Industrial Average component Walmart (NYSE: WMT) is up 1.7%.
Newmont Corporation (NYSE: NEM) is gaining 4.4% in today’s market as investors pile into safe-have investments like gold miners. NEM has been on a tear, nearing its 52-week high, as Wall Street predicts there is runway for greater gains in the stock up ahead.
Yesterday’s winner in the S&P 500, Delta Air Lines (NYSE: DAL), has reversed course alongside the broader markets, falling 8.2%.
Dow Jones Industrial Average: Down 833.14 (-2.05%)
Nasdaq Composite: Down 564.08 (-3.2%)
S&P 500: Down 144.95 (-2.6%)
Market Movers:
There are some gainers in the S&P 500 today. Costco Wholesale (Nasdaq: COST) is up 2.6% as it continues to flex its pricing power in the economic uncertainty.
CarMax (NYSE: KMX) is a drag, falling 19.5% and weighing on the S&P 500’s performance today. The used-car retailer missed its fiscal Q4 profit expectations and has hit the pause button on future outlooks, causing reason for concern.
The post S&P 500 (NYSEARCA: SPY) Live: NEM (NYSE: NEM), DLTR (Nasdaq: DLTR) Buck Downward Trend appeared first on 24/7 Wall St..
