Stocks Swing ahead of the Highly Anticipated US Tariff Announcement – US Market Wrap

Stocks rose as investors ignored weak economic data and focused on the prospect of interest rate cuts ahead of President Donald Trump’s tariff rollout.

In another volatile session, the S&P 500 reversed a 1% decline caused by weak manufacturing and jobs data. A gauge of the “Magnificent Seven” megacaps has ended a four-day selloff. Treasury yields fell as traders slightly increased their bets on Federal Reserve policy easing. This is despite an increase in a price measure. Canada’s loonie and Mexico’s peso rose following news that their respective leaders held a “productive” trade call.

It’s been a confusing time for investors bracing for Trump’s tariffs. As the deadline approaches, it’s unclear how far he’ll go to overturn the current rules-based system of global commerce. The uncertainty has shaken markets, causing economists to lower their growth forecasts and forcing central bankers to consider the potential inflationary impact of import costs.

Trump’s sweeping tariffs will go into effect immediately after their announcement on Wednesday, according to his top spokeswoman.

The S&P 500 increased by 0.4%. The Nasdaq 100 gained 0.8%. The Dow Jones Industrial Average fluctuated.
The yield on 10-year Treasuries fell four basis points to 4.17%. The dollar remained relatively stable.