Here are five key things investors need to know to start the trading day:
1. On to Q2
The first quarter of 2025 is in the books, and it was a rough one on Wall Street. The S&P 500 lost 4.6% for the first three months of the year, snapping a five-quarter win streak. The Nasdaq Composite, meanwhile, plunged 10.4% in the quarter. That’s the index’s biggest quarterly pullback since a 22.4% plunge in the second quarter of 2022. The Dow Jones Industrial Average dropped a more modest 1.3% to start 2025. Tesla stock lost 36% for the quarter in its worst performance since 2022. Traders will be watching to see if the second quarter gets off to a better start. Follow live market updates.
2. One day more
U.S. President Donald Trump speaks to members of the media aboard Air Force One before landing in West Palm Beach, Florida, U.S., March 28, 2025.
Kevin Lamarque | Reuters
Wall Street, K Street and Main Street are awaiting what President Donald Trump has called his biggest batch of tariffs yet. Trump has said Wednesday will be the day he’ll unveil “reciprocal tariffs” against other countries that have duties on U.S. goods or trade policies that the White House considers unfair. But a day away from the set date, the plan has created significant uncertainty. Many key questions — such as how many countries will be affected, how tariff rates are being calculated, and which nations could be hit the hardest — are still unanswered. Keep up with the latest trade news here.
3. IP-whoa
Screens display the trading information for Newsmax Inc. during the company’s IPO on the floor at the New York Stock Exchange on March 31, 2025.
Brendan McDermid | Reuters
Conservative cable news network Newsmax went public on the New York Stock Exchange Monday. Its stock rocketed 735% higher in its first volatile day of trading. Trading under the ticker “NMAX,” the stock opened at $14 a share after pricing at $10 a share, and ended the day at $83.51. The TV news outlet’s ratings have risen since President Donald Trump and other prominent Republicans were elected, but it still ranks behind Fox News, MSNBC and CNN, according to Nielsen.
4. Open and closed
New York Times columnist Andrew Ross Sorkin and Sam Altman, co-founder and C.E.O. of OpenAI, speak during the New York Times annual DealBook summit at Jazz at Lincoln Center on December 04, 2024 in New York City.
Michael M. Santiago | Getty Images
OpenAI has closed a $40 billion funding round, which marks the largest private tech funding round on record. The new deal values the artificial intelligence company at $300 billion. The valuation puts OpenAI among the most valuable private companies in the world, according to CB Insights. It’s on roughly the same level as TikTok parent ByteDance and just behind SpaceX, which is valued at $350 billion. The funding round included $30 billion from Japan’s SoftBank.
5. Clock’s ticking
Jaap Arriens | Nurphoto | Getty Images
This might sound familiar: TikTok is facing a deadline that could determine its fate in the U.S. Its Chinese parent, ByteDance, must divest the app’s American operations by April 5, or it could be effectively banned. It’s the second time this year the popular social media app is facing a deadline that could shut it down, after former President Joe Biden signed a law requiring the change. But President Donald Trump gave ByteDance more time by ordering his attorney general not to enforce the law for 75 more days, bringing the new deadline to this week. Creators and marketing firms told CNBC they’re less worried that the app will disappear altogether this time around, but they’re hedging their bets.
— CNBC’s Brian Evans, Kevin Breuninger, Lillian Rizzo, Hayden Field, Kate Rooney, Jonathan Vanian and Zach Vallese contributed to this report.
