US stocks swerved through another shaky day of trading on Tuesday with uncertainty still high about just what President Trump will announce about tariffs on his "Liberation Day."
- The S&P 500 rose 21.22 points, or 0.4%, to 5,633.07 after swinging between a drop of 1% and a gain of 0.7%.
- The Dow Jones Industrial Average dipped 11.80 points, or less than 0.1%, to 41,989.96.
- The Nasdaq composite rose 150.60 points, or 0.9%, to 17,449.89.
Treasury yields dropped in the bond market after a report said US manufacturing contracted last month, breaking a two-month streak of growth, the
AP reports. A separate report said US employers were advertising slightly fewer job openings at the end of February than economists expected.
The nervousness in the market has helped push the price of gold to records, and it briefly topped $3,175 per ounce during the day. That's up from less than $2,700 at the start of the year. On Wall Street, Johnson & Johnson dropped 7.6% after a US bankruptcy court judge denied the company's settlement plan related to baby powder containing talc. It's the third time the company's attempt to resolve the baby powder settlement through bankruptcy has been rejected by courts. Airline stocks continued their descent on worries that customers feeling nervous about the economy and global trade won't fly as much. Delta Air Lines lost 2.7%, and United Airlines gave up 1.2%.
Tesla helped limit the market's losses after climbing 3.6%. That, though, clawed back just a small portion of the electric-vehicle maker's steep losses this year, and it's still down by a third for 2025 so far. Elon Musk's company is expected to report on Wednesday how many vehicles it delivered during the first three months of the year. PVH jumped 18.1% after the company behind the Calvin Klein and Tommy Hilfiger brands reported a stronger profit for the latest quarter than analysts expected. It also said it plans to send $500 million to shareholders this year through purchases of its own stock.
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Companies are saying they're already feeling effects from Trump's trade war, even with the main event potentially coming on Wednesday, when the president will announce a sweeping set of tariffs. "Customers are pulling in orders due to anxiety about continued tariffs and pricing pressures," one computer and electronic products company told the Institute for Supply Management in its monthly manufacturers' survey. "Starting to see slower-than-normal sales in Canada, and concerns of Canadians boycotting US products could become a reality," a manufacturer in the food, beverage, and tobacco products industry said in the ISM's survey. (More stock market stories.)
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