The S&P 500 Index ($SPX) (SPY) today is up +0.06%, the Dow Jones Industrials Index ($DOWI) (DIA) is down -0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.24%. June E-mini S&P futures (ESM25) are up +0.13%, and June E-mini Nasdaq futures (NQM25) are up +0.28%.
Stock indexes today recovered from early losses and are trading mixed due to the strength in the Magnificent Seven stocks. Stocks today initially opened lower ahead of Wednesday’s announcement of new US tariffs. President Trump will announce the details of the reciprocal tariffs on Wednesday at 3 pm EST. Stock index futures extended their losses today on a report from the Washington Post that said President Trump is considering tariffs of around 20% on most imports to the US. The tariff worries have fueled risk-off sentiment in asset markets and sparked safe-haven buying of government debt and gold, with the 10-year T-note yield falling to a 4-week low today and the price of gold climbing to a new record high.
