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US stocks rose for a third day in a row despite souring consumer confidence — and as investors weighed whether President Trump would temper his plans for upcoming tariffs.
The benchmark S&P 500 (^GSPC) rose more than 0.1%, while the Dow Jones Industrial Average (^DJI) ticked just above the flatline. The tech-heavy Nasdaq Composite (^IXIC) rose nearly 0.5%, bolstered by a more than 3% jump from Tesla (TSLA).
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Uncertainty about the scope of Trump’s upcoming tariffs has investors treading carefully. Stocks soared on Monday amid signs the administration could scale back reciprocal duties due on April 2, with the president saying he “may give a lot of countries breaks.”
At the same time, though, Trump said fresh tariffs on the pharmaceutical and auto sectors are coming in the “near future.” And in another abrupt salvo, Trump on Monday said the US would impose a “secondary tariff” on any country that buys oil or gas from Venezuela.
Meanwhile, worries about a risk of US recession persist as fears of tariffs and federal layoffs make headlines. Americans continue to sour on the US economic outlook, as the latest consumer confidence index reading from The Conference Board came in at 92.9 in March, below the 100.1 seen in February and the lowest level in more than four years.
Quarterly earnings reports from Lululemon (LULU), GameStop (GME), and Dollar Tree (DLTR) are all due this week, with GameStop set to headline Tuesday’s releases.
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GameStop stock gains 6% on plans to add bitcoin as Treasury reserve asset
GameStop stock (GME) rose more than 6% in post-market trading after the company released its quarterly results and said it will add bitcoin (BTC-USD) as a Treasury reserve asset.
The decision to update the company’s investment policy was unanimously approved by the board, a statement read.
GameStop also pos quarterly results on Tuesday after the bell. The company’s net sales for the fourth quarter fell 28% year over year to $1.28 billion.
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S&P 500, Nasdaq rise to notch 3 consecutive winning days
US stocks edged higher on Tuesday as investors digested recent gains after President Trump indicated that the next wave of tariffs would be less severe than anticipated.
The benchmark S&P 500 (^GSPC) rose more than 0.1%, while the Dow Jones Industrial Average (^DJI) rose just above the flat line. The tech-heavy Nasdaq Composite (^IXIC) rose nearly 0.5%.
Tuesday’s action follows the prior session’s sharp gains for all three major averages after President Trump said he would give “a lot of countries breaks” when it comes to reciprocal tariffs expected on April 2.
The latest consumer confidence index reading came in at 92.9 in March, below the 100.1 seen in February and at the lowest level in more than four years as Americans continue to sour on the US economic outlook.
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Stock market needs less policy ambiguity, Gary Cohn says
On an upcoming episode of the Opening Bid podcast, Trump’s top economic adviser during his first term, Gary Cohn, suggested that whipsawing markets could use a dose of policy certainty.
“I would tell anyone who wants to understand what’s going on in markets … that markets thrive on predictability and they thrive on uncertainty,” Cohn, who is a former director of the National Economic Council and current IBM vice chair, told Yahoo Finance’s Brian Sozzi.
“Ambiguity is the No. 1 enemy of a market,” Cohn continued. “When a company creates ambiguity in their earnings profile, in their growth profile, in their business model, the market will punish that stock. When politicians, legislators create ambiguity in the way that taxes are going to work, the way that capital gains are going to work, the way that they’re going impose tariffs, they create ambiguity to a market and the market as a whole reprices.”
Cohn didn’t say whether he thinks Trump’s trade policy would trigger an economic slowdown in the United States, but he said that he is hopeful stability eventually comes to US tariff policy.
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Trump Media soars 6% on deal with Crypto.com
Trump Media & Technology Group (DJT) was up 6% on Tuesday after the company announced a partnership with Crypto.com to launch a series of exchange-traded funds (ETFs) and products.
The ETFs will be available later this year, pending regulatory approval, and will offer digital assets and securities “with a Made in America focus,” according to the announcement. The deal comes on the heels of Trump Media’s expansion into financial services under the Truth.Fi brand, announced in late January.
Trump Media was one of the “Trump trade” winners following the president’s White House victory last November. However, the stock has unwound in recent months.
Year to date, shares are down more than 30%.
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Copper prices climb as tariff uncertainty, supply worries spur rally in industrial metal
Copper (HG=F) prices climbed closer to all-time high levels on Tuesday as indications of more measured Trump administration tariffs extended the industrial metal’s rally this year.
Futures on the London Metal Exchange gained after topping $10,000 per metric ton in the prior session, while contracts on New York’s Comex increased to hover near record highs.
On Monday, President Trump hinted that the reciprocal levies expected on April 2 may not be as widespread as anticipated, easing worries of a global slowdown.
Read more here.
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Retailers are getting antsy over worsening consumer environment, tariffs
Yahoo Finance’s Brooke DiPalma reports:
Read more here.
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Meta, Netflix lead Communications sector higher
Shares of streaming giant Netflix (NFLX) and social media company Meta (META) gained roughly 2% on Tuesday, leading the Communications Services sector (XLC) higher.
Netflix stock is up more than 11% year to date. Meanwhile, Meta touched an all-time high in February before dropping alongside other high-growth stocks as the S&P 500 (^GSPC) and Nasdaq 100 (^NDX) entered into correction territory earlier in March.
Meta is the only member of the “Magnificent Seven” group of tech megacap stocks with year to date gains above 7%.
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Tumbling Tesla sales in Europe are a concern, but RBC’s Narayan still remains bullish
Yahoo Finance’s Pras Subramanian reports:
Read more here.
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Carvana stocks jumps 5% on Morgan Stanley upgrade
Carvana (CVNA) stock jumped 5% on Tuesday after Morgan Stanley analyst Adam Jonas forecast that the used car online platform has the potential to become the “Amazon of auto retail.”
Jonas and his team upgraded the stock to Overweight with a $280 price target and a $400 bull case.
Jonas noted the company “has demonstrated execution with profitable growth and addressed leverage concerns.”
“In addition to what we believe is a company that has turned the corner on profitable growth with an improved balance sheet, our recent Carvana Inspection and Reconditioning Center (‘IRC’) tour in Florida earlier this month reinforced the company’s competitive advantages with vertical integration and scale — a potential ‘Amazon of auto retail,'” Jonas and his team wrote.
Carvana shares are up 10% year to date.
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Home prices kept growing in January, but there are signs of a slowing market ahead
Yahoo Finance’s Claire Boston reports:
Read more here.
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Fed’s Kugler backs keeping rates unchanged for ‘some time’
Yahoo Finance’s Jennifer Schonberger reports:
Read more here.
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Consumer confidence tumbles in March, as economic expectations hit lowest in 12 years
Americans continue to sour on the US economic outlook as uncertainty around President Trump’s policies and higher prices weigh on consumer sentiment.
The latest consumer confidence index reading from the Conference Board was 92.9 in March, below the 100.1 seen in February and the lowest level in more than four years.
Its expectations index — which is based on consumers’ short-term outlook for income, business, and labor market conditions — ticked lower to 65.2 from 72.9. The level remained below the threshold of 80, which typically signals recession ahead, for the second straight month.
This marked a 12-year low for the expectations index.
“Consumers’ expectations were especially gloomy, with pessimism about future business conditions deepening and confidence about future employment prospects falling to a 12-year low,” Stephanie Guichard, a senior economist of global indicators at The Conference Board, said in the release.
“Meanwhile, consumers’ optimism about future income — which had held up quite strongly in the past few months — largely vanished, suggesting worries about the economy and labor market have started to spread into consumers’ assessments of their personal situations.”
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Stocks rise as investors digest prospects of dial-back in Trump tariff plans
Stocks opened slightly higher on Tuesday after a surge in the prior session as investors assessed the latest hints from President Trump that reciprocal tariffs next month may not be as wide-reaching as expected.
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The S&P 500 (^GSPC) gained roughly 0.3% while the tech-heavy Nasdaq Composite (^IXIC) rose more than 0.2%. The Dow Jones Industrial Average (^DJI) moved up 0.2%.
On Monday, President Trump hinted that the levies expected on April 2 against imports from other countries may not be as large as the tariffs charged on US goods. That helped solidify the session’s rally as tech stocks soared for a second day in a row.
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Boeing wants Trump to resolve its biggest legal problem
Boeing (BA) stock is up 0.7% premarket just ahead of the opening bell after The Wall Street Journal reported Monday that the plane maker is pushing President Trump’s Justice Department to allow it to withdraw a guilty criminal plea agreement it reached with the Biden administration.
Yahoo Finance’s Alexis Keenan reports:
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Trump Media partners with Crypto.com for ETFs, stock pops
Trump Media & Technology Group (DJT) stock popped 9% in premarket trading Tuesday after the company announced it was partnering with Crypto.com to launch a series of exchange-traded funds (ETFs) and products.
According to a press release, the ETFs will be available later this year pending regulatory approval and will offer digital assets and securities “with a Made in America focus.”
Trump Media operates the social media platform Truth Social and the streaming service Truth+. In late January, Trump Media said it was expanding into financial services under the Truth.Fi brand.
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Economic growth is ‘moderating’. But there’s no clear sign of a looming recession.
Yahoo Finance’s Josh Schafer reports:
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Good morning. Here’s what’s happening today.
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Chinese tech stocks on brink of correction as likes of Alibaba sink
A roaring rally in China’s top tech heavyweights like Alibaba (BABA, 9988.HK) has hit the brakes, pushing the stocks toward the correction territory where the Nasdaq 100 (^NDX) already lingers.
It’s a sharp reversal of fortunes for the Hong Kong-listed stocks, which have outperformed US tech megacaps as optimism for DeepSeek-like cheaper Chinese AI models grew.
Bloomberg reports:
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KB Home stock slides after downbeat forecast, earnings miss
Shares of KB Home (KBH) sank 7% in premarket trading after the homebuilder lowered its outlook for the year, as shrinking consumer confidence hits demand.
The company also reported first quarter revenue and profit that missed Wall Street estimates. It posted earnings per share of $1.49, versus $1.57 expected, and a 5.2% fall in revenue.
The company trimmed its projected 2025 housing revenue to $6.6 billion-$7 billion, compared with its previous range of $7 billion-$7.5 billion.
“Consumer confidence has declined sequentially each month for the past several months, and homebuyers are moving more slowly in making their purchase decisions,” CEO Jeff Mezger said on an analyst call after the report.
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Tesla struggles in Europe’s growing EV market as February sales slump
Tesla’s (TSLA) share of the European market has shrunk in year-on-year data for February. The decline in sales marks the second month in a row that Tesla has seen a drastic drop in European usage of the once-popular electric vehicle.
Reuters reports:
