Stock Market Today: S&P heads to 6th straight win
Tariff uncertainty continues to weigh on stocks. President Trump will give automakers a break on some tariff costs.
3:55 p.m. ET
A day that opened with softness has turned into a strong rally Tuesday as buyers proved willing to buy despite continuing tariff concerns.
The Standard & Poor's 500 Index was up 0.6% to 5,562, The Nasdaq Composite Index added 114 points to 17,480, and the Dow Jones Industrial Average was up 366 points to 40,593.
The catalyst appears to the Trump Administration's insistence that trade tensions are easing Treasury Secretary Scott Bessent said talks were "in motion" with 187 countries. (China talks really aren't doing much.)
The question for the next few weeks is if the market is on a sustainable path to higher prices. There is still a worry that the risk of a test of the early April lows could erupt. Typically, when a stock or an index has a big low, it will test the low one more time.
That's why one often hears the advice "Buy the second dip."
Two economic reports show economy's fragility
12:50 PM E.T.
The midday gains came despite two economic reports that suggested unease about the economy is filtering into consumer minds.
In addition Amazon.com (AMZN) had to fight off a kerfuffle with the White House about whether it would show customers how much it added to price to cover tariffs costs.
The Standard & Poor's 500 index was up 20 points at 5,549. The Nasdaq Composite Index had gained 36 points at 17,402, while the Dow Jones industrials had climbed 282 points to 40,509..
