US Stocks Bounce Back ahead of Trump Tariff Announcement – US Market Wrap

Stocks were volatile ahead of Trump’s tariff announcement, which will set the stage for a global trade shake-up.

Following a more than 1% drop, the S&P 500 rose roughly as much. Tesla jumped 5.5% on hopes Elon Musk will refocus on the carmaker after a news report suggested his tenure as Trump’s top adviser could end soon. Musk called the article “fake news” in a post on X. Amazon is said to have made a bid for TikTok in the United States. Bonds fell alongside the dollar, while Bitcoin’s rally continued for the second day in a row.

There is no clear consensus on what to expect from markets as Trump’s negotiations over reciprocal tariffs come to a close.

The S&P 500 increased by 0.7%. The Nasdaq 100 gained 0.7%. The Dow Jones Industrial Average rose 0.6%. Boeing stated that it has implemented significant changes to reduce the number of defects and hitches in its production line.
Treasuries erased gains, bringing the five-year yield to its lowest level since October. The US 10-year yield rose by one basis point to 4.18%. The dollar dropped 0.2%.