U.S. stocks opened lower after futures rose on Friday and then fell amid a market response to revenue reports, tariffs and new economic data releases.
The S&P 500 fell 0.44%, while the Nasdaq fell 0.2% after the opening bell. However, buyers plummeted and pushed the green key indicator. If the past few days are any indication, it is completely unknown where the market will trade throughout the day.
With a prominent volatility approaching the week, the Dow Jones industrial average drove almost 400 points as it trimmed further profits recorded mid-week. A new decline on Wall Street will occur as China raises tariffs on US imports to 125% compared to the 145% that President Donald Trump imposed on China.
However, Beijing has shown that hiking is not mandatory by more than 125%, and THESEE is scheduled to come into effect on Saturday, April 12, 2025. Investor reaction to this and the revenue of US stock-bound banks told CNBC’s Squawk Box.
“I think (futures) will see a decent number coming out of the banks we’re reporting today, so I’d like to believe they’re up modestly,” says City’s Kate Moore. https://t.co/lfav776vwg
– Squawk Box (@squawkcnbc) April 11, 2025
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The stock feels tariffs are in a pinch despite the positive revenue season beginning.
JPMorgan, Wells Fargo and BlackRock all reported and showed profits before the market opened. For example, JPM reported earnings per share of $5.07 for the first quarter, according to its release.
In particular, shares of JPMorgan, Wells Fargo, Morgan Stanley and BlackRock recorded pre-market profits.
Similar to the revenue report, the market had to digest producer price index data for March, which has dropped slightly since February. By data, the US March PPI fell by 0.4% per month, the largest drop in economic metrics since October 2023.
PPI was expected to rise by 0.2%. Meanwhile, US PPIs won 2.7% in March compared to the previous year. This is below the consensus forecast of 3.3% and the previous 3.2%.
The data will be released the day after the consumer price index data was released on Thursday. Despite a month of the month falling to 2.4%, the market largely ignored it as tariffs dominated sentiment.
Stocks have fallen amid the weekly tariff whiplash, but Notsed’s profits see the S&P 500 settle on a green weekly candle. Most profit came Wednesday as Trump’s first 90-day tariffs suspended and risky assets skyrocketed.
However, unless there is a large catalyst, uncertainty is unlikely to fade quickly. Benchmark 10-year Treasury yields have risen to over 4.41% as a dump on the dollar index, so investors have poured into gold for safe havens. Precious metals have skyrocketed to a new all-time high of over $3,200.
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