Wall Street faced late-session pressure following fresh trade war rhetoric from President Donald Trump. While the major indexes wavered in the afternoon, the Nasdaq and S&P 500 managed to snap their four-day losing streaks with modest gains, while the Dow closed with a triple-digit loss.
During his first cabinet meeting, Trump reaffirmed that tariffs on Mexico and Canada would proceed as planned and warned that a 25% tariff on European Union (EU) goods could be next. Against this uncertain backdrop, Nvidia’s (NVDA) earnings report looms large — potentially serving as a market-moving catalyst that could set the tone for tomorrow’s session.
Continue reading for more on today’s market, including:
- An earnings report –besides Nvidia’s — to watch
- 2 software stocks making moves today.
- Plus, auto sector buzz; a NFLX opportunity; and a 2024 starlet sells off.
5 Things to Know Today
- North Korea’s cryptocurrency hack should alarm Bitcoin bulls. (MarketWatch)
- Is there any substance to the U.S.-Ukraine minerals deal? (Reuters)
- The auto sector continues to draw headlines.
- Signal: Buy the dip on Netflix stock.
- Best stock of 2024 blitzed by bears.
Black Gold Slumps as Global Outlook Weighs
Oil futures drifted lower in lockstep with the global economic outlook. The most active April-dated West Texas Intermediate (WTI) crude shed 40 cents, or 0.6%, to settle at $68.53 per barrel for the day.
Gold prices climbed, with the safe-haven asset remaining an attractive hedge against market uncertainty. At last glance, gold’s April contract was up 0.4% at $2,931.60 an ounce.
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