Stock Market Today: Stocks end mixed as investors brace for tariff unveiling

Updated at 4:37 PM EDT by Rob Lenihan

Stocks ended mixed Tuesday as investors entered the first trading day of the second quarter with caution and focused on upcoming tariff announcement from President Donald Trump.

The Dow Jones Industrial Average lost 11.80 points, or 0.03%, to finish the session at 41,989.96, while the S&P 500 gained 0.38% to close at 5,633.07 and the tech-heavy Nasdaq rose 0.87% to end the day at 17,449.89.

Wall Street is focused on Trump's April 2 set for 3 p.m. U.S. Eastern Time in the White House Rose Garden. 

Updated at 12:25 PM EDT

Bad news is good news? 

Stocks are finding a bid heading into the afternoon session, with the S&P 500 now up 37 points, or 0.65% and the Nasdaq rising 195 points, or 1.12%, thanks in part to a pullback in Treasury yields tied to the weaker ISM and Jolts readings that could pave the way for near-term Federal Reserve rate cuts.

The latest reading for the Atlanta Fed's GDPNow tracker, meanwhile, shows the economy on pace for a first quarter contraction of 3.7%, a stunning 5 percentage point swing from the fourth quarter expansion. 

On April 1, the #GDPNow model nowcast of real GDP growth in Q1 2025 is -3.7%: https://t.co/T7FoDdgYos. #ATLFedResearch

Download our EconomyNow app or go to our website for the latest GDPNow nowcast: https://t.co/NOSwMl7Jms. pic.twitter.com/fuAjjyTTFR— Atlanta Fed (@AtlantaFed) April 1, 2025

 Updated at 10:44 AM EDT

Steady, just ...

Stocks are mixed into the second hour of trading following a weaker-than-expected reading of the ISM's manufacturing activity survey, while fell by 1.3 points to 49 points in March, just south of the 50-point mark that separates growth from contraction, as well as a modestly softer February Jolts report. 

"The data isn’t necessarily inspiring, but does create hope that we are stabilizing near current levels," said Brent Kenwell, U.S. investment analyst at eToro. "Investors aren’t looking for red-hot data at this point, but rather, stabilization that suggests the economy will find its footing."

"The current correction will be easier to stomach if the economy is able to avoid a meaningful deterioration and that starts with the labor market," he added. "From here, investors should keep a close eye on the trend in weekly jobless claims and take a close examination of Friday’s jobs report."

The S&P 500 was last marked 15 points, or 0.26% lower on the session, with the Nasdaq up 8 points and the Dow off 250 points.

Retail $XRT up today
Mag 7 not half bad
Bonds massive bid (many ETFs ex-div today) pic.twitter.com/C1IsrF35xl— Mike Zaccardi, CFA, CMT