Stocks Extend Gains as Trump Gets Dovish on Tariffs

Published: April 15, 2025 by Omor IE

Key Points

President Donald Trump appears to have softened his stance on tariffs, with an exemption on autos being weighed.
Bank stocks have also seen a bump due to all the big banks beating earnings estimates.
According to banks, consumer spending remains strong. The stock market is positive so far today.
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Most stocks in the market have recovered this morning due to President Donald Trump taking a softer stance on tariffs recently. A tariff pause on autos is being considered after electronics were exempted from triple-digit China tariffs.

The electronics tariff exemption is expected to be temporary, and the administration has said that it will come back in the form of a more targeted semiconductor package. As for the automotive tariff, Trump said he was considering giving automakers more time to move their businesses to the U.S.

Regardless, the temporary pause is driving optimism on Wall Street that tariffs may eventually simmer down as more industries are exempted from tariffs.

Here’s a market update as of 11:00 A.M (ET) today.

The S&P 500 is up 17.39 points, or 0.32%.
The Nasdaq Composite is up 43.9 points, or 0.26%.
The Dow Jones Industrial Average is up 84.37 points, or 0.21%.

Bank Stocks Climb

Banks are seeing a boost in earnings and revenue due to increased trading volume in the past few weeks. Traders and investors have been extremely active due to the tariff turmoil, which has helped banks collect increased fees. Citigroup (NYSE: C) delivered an earnings beat on top of three other big banks beating estimates late last week. C stock is up 2.3% as of writing.

JPMorgan (NYSE: JPM) is up 0.9%. It is the biggest bank in the U.S., so it has moved slower. There has also been some skepticism due to Jamie Dimon selling $31.5 million worth of JPM shares.
Bank of America (NYSE: BAC) is up 4% after posting solid results. The company posted EPS of $0.9 and surpassed expectations of $0.82. Revenue of $27.37 billion also came in above estimates of $26.8 billion.
Wells Fargo (NYSE: WFC) is up 3%.

Notable Gainers Today

Verve Therapeutics (NASDAQ: VERV) is up 28.4% after a gene-editing trial showing no safety concerns. It consequently saw a price target upgrade by Cantor Fitzgerald and Guggenheim.
USA Rare Earth (NASDAQ: USAR) is up 20.5% due to China’s restrictions on rare earth exports to the U.S. Companies USA Rare Earth stands to benefit as domestic rare earth production becomes more important.
Netflix (NASDAQ: NFLX) is up 5% ahead of their earnings report this Thursday.
Palantir Technologies (NASDAQ: PLTR) is up 3.8% as investors price in a $100 million NATO contract win.
TMC the metals company (NASDAQ: TMC) is up 3.6% due to the Trump administration being more friendly toward resource extraction in the Pacific.

Notable Losers Today

Applied Digital (NASDAQ: APLD) is down 26% after missing revenue estimates. Revenue of $52.92 million came in below analyst estimates of $64.48 million.
Webull Corporation (NASDAQ: BULL) is down 25% as it cools down from a massive surge.
Novo Nordisk (NYSE: NVO) is down 2% as counterfeit Ozempic units were found in the U.S. supply chain.
Boeing (NYSE: BA) is down 1.4% due to China halting jet deliveries.
Intel (NASDAQ: INTC) is down 1% as it offloads 51% of its Altera Business at a discount.