Investing
S&P 500 (NYSEARCA: SPY) Live: DAL (NYSE: DAL), (Nasdaq: WYNN) Fly Defiantly
Published:
Last Updated:
Key Points
-
The broader market is moving higher today in the face of an escalated trade war between the U.S. and China.
-
Technology stocks are buoying the S&P 500 higher today.
-
Pharma stocks are next in line for tariffs and are lower.
Live Updates
Live Coverage Has Ended
Recession Fears Ease
Goldman Sachs rescinded its recession forecast after Trump announced a 90-day tariff pause, excluding China. Previously, the bank raised its 12-month recession odds to 45% from 35%, citing Trump’s tariffs set for April 9, and cut its 2025 GDP growth forecast to 0.5%.
It warned of a potential recession if tariffs increased the effective rate by 20 points. The pause eases immediate concerns, though uncertainty lingers with 125% tariffs still looming on China.
Marvelous Markets
The markets have pulled off a nearly impossible feat, reversing the downward trend and soaring more than they have in years. The S&P 500 is up over 8% followed by a massive 2,700-point gain for the Dow Jones Industrial Average. The Nasdaq Composite is leading the pack with nearly 11% gains, powered by an 11% rise in the technology sector.
President Trump has introduced a flat tariff rate of 10% for countries except for China, which was enough to unleash the bulls. He is also reportedly pausing some tariffs altogether. The ball is in China’s court, but the markets don’t seem to be too worried at the moment.
Scott Bessent Now Speaking to the Press
It appears that White House officials who preferred more moderate trade policies have emerged victorious. Scott Bessent, who is widely seen as more cautious versus trade hawks like Peter Navarro, is now on CNBC.
Markets are Ripping Higher on Tariff Pause
Breaking: Trump is offering a 90 day pause on tariffs for countries that haven’t retaliated. The Nasdaq Composite is up 9%.
DAL, INTC Fuel Gains
Airline stock Delta (NYSE: DAL) is gaining 7% on the day, lifting the S&P 500. Delta’s gains come on the heels of the company’s quarterly results and despite the CEO observing signs of an economic recession brewing. The S&P 500 is now up nearly 1% alongside gains in the Dow Jones Industrial Average and Nasdaq Composite. S&P 500 member Intel (Nasdaq: INTC) is rallying 6% alongside the wider chip sector.
Here’s a look at where things stand as of early afternoon trading:
Dow Jones Industrial Average: Up 247.86 (+0.66%)
Nasdaq Composite: Up 254.76 (+1.67%)
S&P 500: Up 39.87 (+0.80%)
SPY a Volatile Play
The S&P 500 index has flipped from green to red as the escalated trade tensions take a toll on market sentiment. These markets are volatile, as the CBOE’s VIX index, an indication of Wall Street fear levels, continues to rise, climbing 10% recently to the 50 level. Tech stocks are a bright spot today, with a 1.3% gain as a sector at last check. Healthcare stocks are sinking on the tariffs.
Here’s a look at where things stand as of mid-morning trading:
Dow Jones Industrial Average: Down 117.57 (-0.21%)
Nasdaq Composite: Up 125.65 (+0.82%)
S&P 500: Down 1.04 (-0.02%)
The broader markets are showing resilience in the face of economic uncertainty as the trade war between the U.S. and China escalates. The S&P 500 is up fractionally in a show of strength, buoyed by stocks like the airlines, including Delta (NYSE: DAL) with a 6.7% increase, while Wynn Resorts (Nasdaq: WYNN) is enjoying a 3.7% advance while also lifting the broader market index higher.
Delta’s gains come despite the company warning that tariffs are going to hit its profits, responding by withdrawing its full-year outlook and warning that the entire airline sector will feel the pain. Wynn Resorts could be rising because according to analysts cited by reports, the impact of the tariffs on travel won’t be as severe as expected.
While the SPY’s gains are modest compared with its steep losses of late, Wall Street will take any sign of optimism while the global trade war unfolds. The markets could be responding to President Trump’s call to buy the dip, but on the other hand Wall Street CEOs like JPMorgan’s Jamie Dimon are already calling for a recession.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 54.21 (-0.14%)
Nasdaq Composite: Up 205.52 (+1.35%)
S&P 500: Up 13.64 (+0.24%)
S&P 500 Movers
Advanced Micro Devices (Nasdaq: AMD) is part of the S&P 500 and is marching forward today with a 4.5% gain.
Tesla’s (Nasdaq: TSLA) 2.7% rise is helping to lift sentiment in the technology sector.
Bristol-Myers Squibb (NYSE: BMY) stock is falling by 5.2% today due to the fact that the pharmaceutical sector is next in line for the tariff hit. The fear is also spreading to names like AbbVie (NYSE: ABBV), which is down a steep 6.2% in today’s session.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s simple quiz makes it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
