Stocks have once again fluctuated over the course of the trading session on Tuesday but are currently mostly higher. With the upward move, the major averages are extending the notable advance seen over the two previous sessions.
Currently, the Nasdaq is up 98.14 points or 0.6 percent at 16,929.62, the S&P 500 is up 26.39 points or 0.5 percent at 5,432.36 and the Dow is up 138.28 points or 0.3 percent at 40,663.07.
The strength on Wall Street comes as traders digest the latest earnings news as well as developments on the volatile tariff front.
President Donald Trump has indicated a potential temporary tariff exemption for the auto industry, especially for counties like Mexico and Canada.
At the same time, there were reports that the U.S. was kicking off investigations into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs.
On the U.S. economic front, the Labor Department released a report showing import prices edged slightly lower in the month of March.
The Labor Department said import prices slipped by 0.1 percent in March after rising by a downwardly revised 0.2 percent in February.
Economists had expected import prices to come in unchanged compared to the 0.4 percent increase originally reported for the previous month.
Meanwhile, the report said export prices were flat in March after climbing by an upwardly revised 0.5 percent in February.
Economists had expected export prices to come in unchanged compared to the 0.1 percent uptick originally reported for the previous month.
A separate report released by the Federal Reserve Bank of New York showed New York manufacturing activity has declined modestly in the month of April.
Sector News
Banking stocks have shown a strong move to the upside on the day, resulting in a 2.2 percent surge by the KBW Bank Index.
Bank of America (BAC) and Citigroup (C) are posting notable gains after reporting better than expected first quarter results.
Considerable strength is also visible among airline stocks, as reflected by the 2.0 percent jump by the NYSE Arca Airline Index.
Networking, brokerage and natural gas stocks are also seeing significant strength, while most of the other major sectors are showing more modest moves.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly higher during trading on Tuesday. Japan’s Nikkei 225 Index advanced by 0.8 percent, while China’s Shanghai Composite Index crept up by 0.2 percent.
The major European markets have also moved to the upside on the day. While the French CAC 40 Index is up by 0.9 percent, the German DAX Index and the U.K.’s FTSE 100 Index are both up by 1.4 percent.
In the bond market, treasuries are seeing modest strength following the notable rebound seen on Monday. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.7 basis points at 4.347 percent.
Business News
U.S. Stocks Move Mostly Higher, Adding To Recent Gains
2025-04-15 15:29:22
