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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...
Market Briefing
April 02, 2025
Good morning.
The Fast Five → 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…
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- from Simmy Adelman
Calendar: (all times ET) - Full Calendar
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Your 5-minute briefing for Wednesday, April 2:
BEFORE THE OPEN
As of market close 4/1/2025.
Pre-Market:
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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:
Today: Blackberry $BB ( 0.0% )
RH $RH ( ▲ 0.62% ) - earnings of $1.91 per share (+165.3% YoY), on $829.5M revenue (+12.4% YoY)
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Behind the Markets
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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