Let’s look at some of the more notable calls from Wall Street today.
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Shortly before noon today, markets are mixed with the S&P 500 and Nasdaq rising while the Dow and Russell 2000 are down.
The biggest ‘trade’ since Trump’s election has been a rotation to many sectors with larger representation in the Dow Jones Industrial Average and Russell 2000 like banks, industrials, and consumer goods.
That trade is taking a break today with financials trailing the S&P 500. Other sectors that are underperforming include energy (-.25%) and materials (-.73%).
Leading gainers today are utilities (+1.08%), and information technology (+.55%). Let’s take a look at today’s biggest news stories.
Yesterday Donald Trump made a post on his Truth Social platform that introduced new tariff proposals. The post said:
“I have had many talks with China about the massive amounts of drugs, in particular Fentanyl, being sent into the United States – But to no avail. Representatives of China told me that they would institute their maximum penalty, that of death, for any drug dealers caught doing this but, unfortunately, they never followed through, and drugs are pouring into our Country, mostly through Mexico, at levels never seen before. Until such time as they stop, we will be charging China an additional 10% Tariff, above any additional Tariffs, on all of their many products coming into the United States of America. Thank you for your attention to this matter.”
Markets seem to be shrugging the threat of more tariffs off for now. While Trump has talked about wanting more tariffs, his threats are often more ‘negotiating’ than a plan that’s likely. The industry taking the biggest hit so far is industrials, which could suffer under tariffs levied on Canada.
Stocks trailing the S&P 500 today include Amgen (Nasdaq: AMGN) and General Motors (NYSE: GM). Let’s look at why each is falling:
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Eric Bleeker has been investing for more than 20 years. He began his career working at Microsoft before joining Motley Fool, one of the largest publishers of financial research. In his 15 years at Motley Fool Eric served as the General Manager for Fool.com and led coverage in the Technology & Telecom sector. In addition, he was a featured columnist and has hosted dozens of investing seminars attended by more than a million total investors. Eric has more than 1,000 financial bylines to his name and has been featured in The Wall Street Journal, CNBC, Fox Business, and many other leading publications. He is currently focused on artificial intelligence investing and is a CFA Charterholoder.
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