U.S. stocks ticked upward Tuesday morning as investors parsed a fresh round of corporate earnings, looking for early signs of how President Donald Trump’s evolving trade and tariff strategies are impacting Corporate America.
As of 11:52 a.m. Eastern Time, the Dow Jones Industrial Average gained 248.81 points (0.62%) to reach 40,476.41, while the S&P 500 advanced 15.76 points (0.29%) to 5,544.51. The Nasdaq Composite also edged higher, adding 33.05 points (0.19%) to hit 17,399.15.
The positive momentum followed a shaky start to the trading week, driven by cautious corporate signals. General Motors (GM) withdrew its earnings forecast and reported a quarterly profit decline, citing persistent uncertainty from new and potential tariffs. JetBlue Airways (JBLU) followed suit, also pulling guidance while warning of continued weak demand in the airline industry.
Adding to concerns, UPS announced plans to reduce its workforce by 20,000 positions, with CEO Carol Tomé pointing to “macroeconomic uncertainty” as the company adjusts its cost structure amid trade-related pressures.
These announcements came a day after The Wall Street Journal reported that the White House may soften its proposed auto tariffs—potentially easing levies on foreign parts and avoiding overlapping charges on some imported vehicles. That report had temporarily lifted auto-related stocks before broader caution set in.
The effects of trade tension extended beyond U.S. borders. German apparel giant Adidas signaled possible price hikes in the U.S. market to offset import duties. Meanwhile, European financial institutions like Deutsche Bank and HSBC increased their reserves to prepare for potential losses linked to ongoing global economic friction. Automakers Porsche and Volvo Cars also reported early signs of financial strain tied to auto tariffs.
At a morning briefing, Treasury Secretary Scott Bessent described the administration’s stance as “strategic uncertainty,” suggesting that more clarity would emerge once additional trade deals were finalized. However, Bessent declined to confirm whether direct negotiations with China were underway, even as China’s Foreign Ministry issued a defiant post on social media stating that it would “never kneel down” to Washington.
Economic indicators released Tuesday painted a mixed picture. Consumer sentiment dipped, reflecting concerns about inflation and trade, while job openings in March indicated continued strength in the labor market.
“While the market can take a breath from immediate tariff headlines, the bigger question is the longer-term economic impact,” said Megan Horneman, Chief Investment Officer at Verdence Capital Advisors. “The coming weeks will be critical in determining whether investor confidence can withstand continued geopolitical and policy volatility.”
Midday Stock Snapshot (as of 11:52 AM ET, April 29, 2025):
- Apple (AAPL): $210.94 (+0.38%)
- Amazon (AMZN): $186.89 (–0.43%)
- Microsoft (MSFT): $393.36 (+0.56%)
- Alphabet (GOOG): $161.66 (–0.47%)
- Meta Platforms (META): $551.04 (+0.24%)
- Tesla (TSLA): $284.11 (–0.62%)
- NVIDIA (NVDA): $109.14 (+0.38%)
- VIX (Volatility Index): 24.94 (–0.83%)
With major companies sounding alarms and job cuts underway, market watchers will be closely monitoring upcoming economic reports and policy updates. For now, Wall Street appears cautiously optimistic—but wary of what lies ahead.
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