Major U.S. stock indexes were mixed late Thursday morning as investors digested the highly anticipated earnings report from AI chipmaker Nvidia and President Trump’s latest announcement on tariffs.
The Dow Jones Industrial Average was up 0.7% in recent trading, while the S&P 500 was down 0.1% and the tech-heavy Nasdaq Composite slid 0.6%. The S&P 500 and Nasdaq finished slightly higher on Wednesday, snapping a four-session streak of hefty losses.
The U.S. stock market has had a shaky several days amid mounting investor concerns about the health of the economy and uncertainty about the potential impact of policies coming out of the Trump White House. Trump said in a post on Truth Social this morning that tariffs on Mexico and Canada would go into effect on March 4, and that additional tariffs would be imposed on China.
Shares of Nvidia (NVDA), which released its results after the closing bell yesterday, were down more than 3% in recent trading, after rising in the premarket session. The company reported huge jumps in revenue and profit, which exceeded analysts’ expectations, amid booming demand for its AI chips.
Chip stocks were among the big decliners today, with Broadcom (AVGO), Marvell Technology (MRVL), ON Semiconductor (ON) and Micron Technology (MU) all losing ground. The iShares Semiconductor ETF (SOXX) was down more than 2%.
Among other noteworthy tech names, EV maker Tesla (TSLA) was off 1% after falling more than 4% yesterday to extend a recent slump. Microsoft (MSFT) Amazon (AMZN), Alphabet (GOOG) and Meta Platforms (META) also retreated, while Apple (AAPL) inched higher.
Shares of Salesforce (CRM) were down 1.5% after the cloud software giant reported quarterly results that missed expectations and issued a disappointing outlook. Entertainment giant Warner Bros. Discovery (WBD) jumped 10% to lead S&P 500 gainers after issuing a rosy outlook that offset results that missed analysts’ estimates. Dell Technologies (DELL) shares were down 3% ahead of the scheduled release of earnings after today’s closing bell.
The yield on the 10-year Treasury, which correlates with expectations about where interest rates are headed and affects borrowing costs on all sorts of loans, was at 4.28%, up from 4.25% at yesterday’s close. The yield has been trading at its lowest levels of the year this week amid the concerns about the economy.
Investors are keeping close tabs on economic data as they look for information that could affect the Federal Reserve’s decision-making on interest rates. The big data point of the week comes Friday morning, when the Fed’s preferred measure of inflation is due to be released.
Bitcoin was at $84,900 in recent trading, up from an overnight low of $83,400. The digital currency has been trading at its lowest levels since November.
Gold futures were down 1.5% at $2,885 an ounce, while West Texas Intermediate crude oil futures rose 1.9% to $69.90 per barrel.
Trump Says Mexico, Canada Tariffs to Take Effect Next Week
36 minutes ago
Tariffs against products from Canada and Mexico will go into effect March 4, President Donald Trump said Thursday, while announcing the doubling of the existing tariff on goods from China.
Starting on that date, importers will have to pay a 25% tax on products from Canada and Mexico, and a lower 10% tariff on Canadian oil, Trump posted on social media. On top of that, Trump said he would put an additional 10% tariff on products from China, adding to a 10% tariff he already imposed in early February.
Jim Watson / AFP / Getty Images
The social media post cleared up some confusion around the start date of the Canada/Mexico tariffs—Trump had made comments at a cabinet meeting Wednesday raising doubts about when they would go into effect.
Trump said the tariffs against Canada and Mexico would stay in place until fentanyl smuggling was stopped or seriously limited.
“Drugs are still pouring into our Country from Mexico and Canada at very high and unacceptable levels,” he said in the social media post Thursday. “A large percentage of these Drugs, much of them in the form of Fentanyl, are made in, and supplied by, China.”
The White House, which has announced plans to impose tariffs far and wide, also believes they will bring manufacturing jobs to the U.S. and that the revenue generated will help balance the budget.
Economists worry that steep new tariffs will push up prices on a wide range of products, possibly stoking inflation and slowing down the economy. Consumer expectations of future inflation spiked earlier this month because of concerns about the tariffs, according to the University of Michigan’s survey of consumers.
Warner Bros. Discovery Jumps on Upbeat Outlook
1 hr 12 min ago
Warner Bros. Discovery (WBD) shares jumped Thursday morning as the company’s upbeat streaming outlook offset weaker-than-expected fourth-quarter results.
The entertainment giant reported a net loss of $0.20 per share on revenue of $10.03 billion. Analysts polled by Visible Alpha had expected a profit of $0.02 per share and revenue of $10.22 billion.
In its annual letter to shareholders, the company said its plans to continue expanding its Max streaming service to more countries and sees “a clear path to reach at least 150 million global subscribers by the end of 2026, with corresponding strong (Direct-to-Consumer) revenue and Adjusted EBITDA growth.” The company had 116.9 million DTC subscribers at the end of the fourth quarter.
The report comes amid a shift in Warner Bros. Discovery’s strategy. In December, it said it planned to split its operations into two segments, one for its television networks like CNN, TBS, and TNT, and another for its film studios and Max. The company said in the shareholder letter that it expects to complete the restructuring in the second quarter.
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Warner Bros. Discovery shares were up more than 9% and leading S&P 500 gainers this morning. The stock is up 31% over the past 12 months, handily outpacing the benchmark index during that stretch.
Nvidia Levels to Watch After Earnings
2 hr 11 min ago
Nvidia (NVDA) shares fell in early trading after the AI investor favorite posted better-than-expected quarterly results and issued a strong outlook amid booming demand for its advanced AI chips.
After forming a bullish engulfing pattern at the 50-period moving average, Nvidia shares moved higher the following week before entering a consolidation phase ahead of the chipmaker’s quarterly results.
Meanwhile, the relative strength index gives a reading of around 50 to indicate neutral conditions, while declining trading volumes in recent weeks suggest that larger market participants remained on the sidelines ahead of the release of the earnings report after yesterday’s closing bell.
Investors should watch key support levels near $130, $113, and $96, while also monitoring crucial overhead areas at $153 and $255.
The stock was down 3% at $127 in recent trading. The stock is down slightly so far in 2025 but is up about 65% over the past 12 months.
Read the full technical analysis piece here.
Futures Point to Higher Open for Major Indexes
3 hr 35 min ago
Futures tied to the Dow Jones Industrial Average were up 0.2%.
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S&P 500 futures rose 0.5%.
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Nasdaq 100 futures added 0.7%.
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