A nervous calm

Nervous calm ahead of 'Liberation Day', Trump considers 'blanket' 20% tariffs, Airline stocks drop on waning demand, CoreWeave shares rip nearly 42% higher, and Newsmax’s 2,050% surge cements its meme stock status...

Good morning.

The Fast FiveNervous calm ahead of 'Liberation Day', Trump considers 'blanket' 20% tariffs, Airline stocks drop on waning demand, CoreWeave shares rip nearly 42% higher, and Newsmax’s 2,050% surge cements its meme stock status…

Calendar: (all times ET) - Full Calendar

  • Today:
    Factory orders, 10:00A

  • Tomorrow:
    Initial jobless claims, 8:30A
    US trade deficit, 8:30A

Your 5-minute briefing for Wednesday, April 2:

BEFORE THE OPEN

As of market close 4/1/2025.

Pre-Market:

US Investor % Bullish Sentiment:
↑ 27.58% for Week of March 27 2025

Previous week: 21.58%. Updates every Friday.

Market Wrap:

  • Futures flat: S&P -0.03%, Nasdaq slightly lower, Dow -6 pts.

  • Trump’s “reciprocal tariffs” take effect today; 20% import duties under consideration.

  • S&P +0.4%, Nasdaq +0.9%, Dow flat Tuesday.

  • Market volatility lingers; S&P down 5 of past 6 weeks.

  • ADP jobs report due Wednesday (est. +120K).

  • Feb job openings fell to 7.57M, below forecast.

EARNINGS

Light week. Here’s what we’re watching:

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HEADLINES

The first trading day of the quarter on Tuesday was a nervy affair ahead of Trump's "Liberation Day", with markets struggling for clear direction as Trump's new trade barriers loomed into view.

Economists agree that a universal tariff plan from Trump would cost households thousands. But it could make things simpler for Trump.

  • Upcoming tariffs ‘will be effective immediately,’ White House says (more)

  • US recession fear raises ‘gray swan’ risk for bond investors (more)

  • Auto sales surged in anticipation of Trump’s tariffs (more)

  • CoreWeave shares rip nearly 42% higher, rising above IPO price (more)

  • Newsmax’s two-day 2,050% surge cements its meme stock status​ (more)

  • Airline stocks drop on report of waning demand (more)

  • J&J plunges after plan to settle baby powder suits fails (more)

  • Top Nippon Steel exec to meet with Commerce’s Lutnick at pivotal moment (more)

  • Hims to sell Lilly’s Zepbound through its telehealth platform (more)

  • Mercedes weighs pulling US entry-level cars over tariffs (more)

  • Goldman’s big bonuses for CEO, president deemed ‘poor practice’ by ISS (more)

  • Rahm Emanuel is coming to Wall Street (more)

- We’re on a short break -
The Dealflow, Crypto & Bullish sections will be
back on Monday, April 7. Thank you for reading!

DAILY SHARES

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