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The markets have turned higher in an uncertain economy, with all three of the major stock market averages now advancing. The S&P 500 is leading the charge, with a 1.4% increase, while the Dow Jones Industrial Average and Nasdaq Composite are up 1.2% and 1.3%, respectively. The Trump administration’s tariff exemptions to certain technology segments are boosting sentiment.
Fed official Christopher Waller is addressing the economy, saying that he believes tariff-related inflation will be transitory in nature, a term that is eerily reminiscent of the pandemic era. In a worst case scenario, he sees inflation rising as high as 5% before retreating, while the other scenario is 3% inflation before coming down.
The S&P 500’s gains are being fueled by CRL (NYSE: CRL), which is up about 7%, and Palantir Technologies (Nasdaq: PLTR), which is holding onto 6% gains.
The broader market is letting go of earlier gains, as all three of the major stock market averages, including the S&P 500, flip from green to red. According to a just-released Fed survey, consumers are fretting about economy as predictions for a recession grow louder. The poll reveals that consumers are fixated on inflation, unemployment and the wild stock market, all of which are being exacerbated by the tariff uncertainty. Earlier stock market gains have now given way to losses as the markets battle to hold these levels. We’ll see how the rest of the afternoon unfolds but for now it could go either way.
Technology stocks are leading the markets higher, including a 1.5% gain in the S&P 500, extending Friday’s market rally. The Dow Jones Industrial Average and Nasdaq Composite are both higher by over 1% as well, the catalyst for which is tariff exemptions for certain technology products.
Goldman Sachs reported a strong quarter today but CEO David Solomon cautioned of an impending economic recession. All sectors of the economy are seeing green today, from consumer discretionary to financials to real estate and technology.
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The markets are in relief rally mode, sending all three of the major stock market averages higher by over 1%. Tacking onto last week’s gains, the S&P 500 is up 1.5% on the day, buoyed by technology stocks including Dell (Nasdaq: DELL | DELL Price Prediction), Intel (Nasdaq: INTC) and Palantir (Nasdaq: PLTR). Chief among the positive catalysts is a tariff exemption on pockets of technology implemented by President Trump, lifting the market mood. All sectors of the economy are in the green today, led by technology stocks with a 2.1% advance and real estate up 1.9%.
Goldman Sachs reported a record quarter on robust equities trading volume, but CEO David Solomon warned that the likelihood of an economic recession rearing its head has increased.
PC maker Dell Technologies is a big gainer in the S&P 500 today, rising as much as 8% on the tariff escape. Dell is trading below the $90 threshold compared with a 52-week high of $179.00. Chip stocks are also moving higher, led by Intel, which is tacking on 5.3% and helping to lift the S&P 500 index today.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 474.09 (+1.1%)
Nasdaq Composite: Up 305.77 (+1.8%)
S&P 500: Up 82.39 (+1.5%)
Not all stocks are participating in today’s rally. DaVita (NYSE: DVA) is falling 3.4% after a ransomware attack infiltrated its operations.
Healthcare stock Humana (NYSE: HUM) is down 2.7% while UnitedHealth Group (NYSE: UNH) is down 2%.
Elsewhere, Bank of America has reiterated its buy ratings on Nvidia (Nasdaq; NVDA) and Broadcom (Nasdaq: AVGO), saying that Nvidia is shielded from the tariff wars thanks to its large U.S. footprint. Nvidia has committed to producing AI supercomputers in the USA.
Consumer stock Estee Lauder (NYSE: EL) is gaining nearly 6% today, helping to power the S&P 500 higher following a steep sell-off in the stock due to the tariffs.
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Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
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