Stocks Show Minor Gains Amid Tariff Risks and Low Consumer Confidence
On Tuesday, US stock markets showed minimal movement, with the S&P 500 down 0.05% and the Nasdaq Composite up 0.2%. These changes follow a rapid decline in equities that erased two years of gains between mid-February and mid-March, marking the S&P's 10% drop from a record high as the seventh-fastest in history.
Key points include:
- The Nasdaq Composite is down over 5% year-to-date and hasn't hit a record since December 2024.
- President Trump announced new tariffs of 25% on goods from countries importing Venezuelan oil, effective April 2.
- Additional tariffs on various sectors, including cars and pharmaceuticals, are anticipated.
- US consumer confidence has reached a 12-month low, according to recent data.
- February's Personal Consumption Expenditures (PCE) report will be released Friday, with analysts predicting annual inflation to remain at 2.5%.