Live Nasdaq Composite: COIN, DASH Rise, HAL Falls on Tariff Day
Key Points
- The markets came out of the gate lower on tariff day, but declines are modest.
- Netflix is gaining on the day while the Magnificent 7 stocks are floundering.
- Crypto exchange Coinbase is higher on positive crypto sentiment.
- Tesla stock is having a rocky day.
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Markets Turn Higher
In a volatile day of trading, the markets have turned positive. All three of the major stock market averages are now trading in the green with fractional gains, led by the Nasdaq Composite. The rebound comes as the markets continue to wait for details on President Trump’s tariff plan. Most sectors of the economy are now higher, led by consumer discretionary stocks with a 2% gain.
DoorDash (Nasdaq: DASH) is a big gainer today, up 4.5%, on the heels of a new partnership with Domino’s Pizza.
Tesla (Nasdaq: TSLA) is tacking on 5% on reports CEO Elon Musk may be leaving the Trump administration to focus on running his companies.
Here’s a look at where things stand in mid-afternoon trading:
Dow Jones Industrial Average: Up 194.68 (+0.46%)
Nasdaq Composite: Up 160.75 (+0.92%)
S&P 500: Up 30.53 (+0.53%)
Markets Malaise
The markets are little changed from our last update, as tariff uncertainty continues to weigh on market sentiment. President Trump is calling it “Liberation Day,” but the stock market doesn’t appear to be convinced. The three major stock market averages remain mired in selling, while financial and utilities sectors have managed to make their way into the green.
Here’s a look at where things stand as of mid-morning trading:
Dow Jones Industrial Average: Down 59.61 (-0.14%)
Nasdaq Composite: Down 47.31 (-0.27%)
S&P 500: Down 13.15 (-0.24%)
The markets are under pressure on tariff day, with all three of the major stock market averages lower out of the gate. The Dow Jones Industrial Average, Nasdaq Composite and S&P 500 are experiencing fractional declines in early-morning trading. President Trump is expected to unveil more details about his tariff battleplan, placing the markets in wait-and-see mode.
All sectors of the economy are flashing red, with energy seeing the brunt of the selling with a 1% drop amid a weak oil price. Oil services stock Halliburton (NYSE: HAL) is falling nearly 2% on the day and is close to its 52-week low.
Netflix (Nasdaq: NFLX) is rising close to 2% to $945 per share. Options activity and technical signals surrounding NFLX shares suggest the stock wants to continue higher, outshining the Magnificent 7 stocks today.
Cryptocurrency exchange Coinbase (Nasdaq: COIN) is bucking today’s downward trend, rising 1%. The stock could be benefiting from positive sentiment after industry peer and fintech Circle’s decision to file for an IPO.
Tesla (Nasdaq: TSLA) is falling about 1%. The company’s Model Y EV reportedly became a best-seller in China last month. Overall, the company’s Q1 delivery numbers were disappointing, according to Wedbush analyst Dan Ives.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 139.22 (-0.33%)
Nasdaq Composite: Down 77.15 (-0.43%)
S&P 500: Down 23.29 (-0.40%)
Market Movers:
AI new issue CoreWeave (Nasdaq: CRWV) is rallying 9% to over $57 per share this morning, flying past its $40 IPO price after making its stock market debut earlier this week.
Truist analysts like Scotts Miracle-Gro (NYSE: SMG) in this economy, saying it could be a wise investment in an otherwise uncertain economy. SMG stock is up 1.6% today. The Wall Street firm upgraded the stock to “buy” from “hold” with $70 price target, reflecting more than 25% upside potential based on the current stock price.
DoorDash (Nasdaq: DASH) is rising 4% on the day on the heels of a new partnership with Domino’s (Nasdaq: DPZ) to bolter the pizza franchise’s reach in North America.
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