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Wall Street Holds Its Breath Before Trump’s Tariff Announcement

Wall Street Holds Its Breath Before Trump’s Tariff Announcement

Published: by Omor IE

Key Points

  • Sentiment on Wall Street is lukewarm ahead of Trump’s tariff announcement.

  • The stock market’s performance is mixed today.

  • Some individual stocks have still made some sharp moves.

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President Donald Trump is expected to reveal the details of his reciprocal tariff plan at 4 P.M (ET) today, which is expected to affect half of all imported goods coming into the U.S. The broader market hasn’t made any big moves yet as Wall Street is waiting to see how these tariffs turn out.

According to Citi, if these tariffs average below 10%, the stock market will likely respond well. Lower tariffs mean less inflation, and this should allow the Federal Reserve to go ahead and implement more interest rate cuts this year. Anything above 10% is likely to drag the markets lower, and blanket tariffs on all countries may still happen. In the meantime, some individual stocks have made some sharp moves.

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

  • The S&P 500 is up 9.74 points, or 0.17%.
  • The Nasdaq Composite is up 18.67 points, or 0.1%.
  • Dow Jones Industrial Average is up 93.24 points, or 0.22%.
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Tesla Plungers After Missing Targets

Tesla (NASDAQ: TSLA) is the biggest loser among big-cap stocks today. The company’s deliveries fell 13% year-over-year and missed Wall Street estimates.

Analysts expected 390,342 deliveries from Tesla, but actual deliveries came in at just 336,681. This is the worst quarterly delivery metric from Tesla since Q2 2022. TSLA stock is down 1.4% as Wall Street digests the news.

Other Magnificent Seven stocks have shown mixed performance so far this morning. Oracle (NYSE: ORCL), Morgan Stanley (NYSE: MS), and DoorDash (NASDAQ: DASH) are up moderately. The latter is up due to a partnership with Domino’s (NASDAQ: DPZ).

Notable Gainers Today

  • TTEC Holdings Inc (NASDAQ: TTEC) is up 50% today as the company says it is willing to engage with its CEO to acquire shares not already owned by him at a proposed purchase price of $6.85 per share. This offer was raised in late September last year, and he already owned 58% of the company back then.
  • CervoMed Inc (NASDAQ: CRVO) is up 24.5% today as a clinical trial showed that its drug cuts dementia progression by 40% and fall risk by 73%.
  • Cognyte Software Ltd (NASDAQ: CGNT) is up 20% after reporting solid Q1 FY2025 earnings. It posted $0.03 in EPS and surpassed the $0.01 forecast.
  • Phathom Pharmaceuticals Inc (NASDAQ: PHAT) is up 20% after appointing a new CEO.
  • Alumis Inc (NASDAQ: ALMS) is up 16%.

Notable Losers Today

  • Waton Financial Ltd (NASDAQ: WTF) is down 58%. This company had a massive post-IPO rally and is cooling off from that.
  • Newsmax (NYSE: NMAX) is down 45% this morning after a massive 2,230% post-IPO rally that made it more valuable than the owner of Fox News.
  • Edgewise Therapeutics Inc (NASDAQ: EWTX) is down 26% after it priced its offering to raise $200 million.
  • nCino Inc (NASDAQ: NCNO) is down 25% after posting weak Q4 results and disappointing guidance.
  • BlackBerry Ltd (NYSE: BB) is down 9% after its FY2026 outlook missed estimates.

The image featured at the top of this post is ©derfussi / Flickr.

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