Stock Market Today: Stocks waver with White House tariff event on deck
Global markets are braced for what could be the largest and most comprehensive tariff structure in nearly a century.
U.S. stocks edged higher in early Wednesday trading, while Treasury yields and the dollar held steady, as investors braced for what could be a crucial unveiling of President Donald Trump's comprehensive tariff plan later today at the White House.
Updated at 11:00 AM EDT
The swingers
Stocks are moving higher in the opening hour of trading, with volatility levels ticking higher ahead of today's tariff event later today in Washington, following a sharp opening bell decline.
The S&P 500 was last marked 4 points higher on the session, with the Nasdaq up 1 and the Dow rising 51 points.
The CBOE Group's VIX index rose 1.33% to $22.06, suggesting options traders are anticipating daily swings of 1.37%, or 77 points, for the S&P 500, but is down from the session high of $23.45.
"For today, obviously the big story will be after the close. We often see directional moves ahead of big news and then as the release nears, markets move back toward being unchanged," said JJ Kinahan, CEO of tastytrade from IG. "Therefore, I would not be at all surprised if we see a big move intraday that reverses itself."
"I wouldn't be surprised if we see an increase in volatility during the day, then a contraction overnight," he added. "While most agree tariffs are bad for an economy, there may be a sense of certainty after the announcement, allowing VIX to contract."
$VIX 23.45 pic.twitter.com/YLpykvSdBO— Mike Zaccardi, CFA, CMT
