Tags: stocks | earnings | tariffs | autos | china | bessent

Stocks Rise on US-China Trade Developments

Stocks Rise on US-China Trade Developments
Traders on the floor of the New York Stock Exchange in morning trading, April 28, 2025 (Spencer Platt/Getty Images)

Tuesday, 29 April 2025 11:53 AM EDT

Stocks rose in midday trading Tuesday as investors assessed a slew of corporate earnings, economic data, and fresh comments on the U.S.-China trade war.

U.S. Treasury Secretary Scott Bessent said the "onus" was on China and predicted the Asian country could lose 10 million jobs quickly due to tariffs.

At 11:51 a.m. EST, the Dow Jones Industrial Average rose 15.21 points, or 0.28%, the S&P 500 rose 251.54, or 0.63%, and the Nasdaq Composite was up by 32.38 points, or 0.19%.

The world's two largest economies have slapped tit-for-tat import tariffs on each other and uncertainty around the state of negotiations between the two has kept markets on edge.

Honeywell jumped 4.2% after posting a rise in adjusted profit for the first quarter, supporting the blue-chip Dow. Paintmaker Sherwin-Williams also gained 5.2% after beating first-quarter profit estimates.

Most megacaps were lower on the day, with Amazon.com leading declines after the White House commented on reports of the e-commerce giant planning to include the cost of tariffs on the price tag of products, calling it a hostile act.

On the data front, U.S. job openings came in at 7.19 million in March, compared with estimates of 7.48 million, according to economists polled by Reuters. A gauge of consumer confidence came in at 86, below estimates of 87.5.

More economic data, including nonfarm payrolls, is expected this week, Results from many of the "Magnificent Seven" group of megacap stocks are also due, with investors hawk-eyed on any signs of tariff impact on their outlook.

"We're just in this eye of the storm, if you will, for a lot of investors, consumers, and business leaders wondering what the future looks like as potential tariffs kick in down the road," said Matthew Stucky, chief portfolio manager at Northwestern Mutual Wealth Management.

U.S. officials said on Monday President Donald Trump's administration will move to reduce the impact of his automotive tariffs.

Shares Ford and Tesla edged only slightly higher, while General Motors slipped 1.9% after the automaker pulled its annual forecast due to tariff uncertainty.

"Suppliers might gain some cost recovery, but ... relief today doesn't fix the longer-term challenge: U.S. car prices are heading higher just as economic momentum fades," analysts at Bernstein said.

All three major indexes remain down for the year, despite the S&P 500 logging its best winning streak since November on Monday. HSBC became the latest brokerage to trim its year-end target for the S&P 500 index, cutting it to 5,600 from 6,700 earlier.

United Parcel Service, a bellwether for the economy, reversed premarket gains to fall 1.2% after its quarterly results.</p> <p>NXP Semiconductors NV fell 6.4% after the company only slightly beat expectations for revenue, and announced a CEO transition.

U.S.-listed shares of Spotify Technologies dropped 8.4% after the Swedish music-streaming giant forecast current-quarter operating profit below Wall Street estimates.

Declining issues outnumbered advancers by a 1.35-to-1 ratio on the NYSE and by a 1.35-to-1 ratio on the Nasdaq.

The S&P 500 posted no new 52-week highs and 4 new lows while the Nasdaq Composite recorded 14 new highs and 32 new lows.

© 2025 Thomson/Reuters. All rights reserved.


StreetTalk
Stocks rose in midday trading Tuesday as investors assessed a slew of corporate earnings, economic data, and fresh comments on the U.S.-China trade war.
stocks, earnings, tariffs, autos, china, bessent
514
2025-53-29
Tuesday, 29 April 2025 11:53 AM
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