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US STOCKS: Late Equities Roundup: Back To Mid-Sep Lows Despite Tariff Deferral

US STOCKS
USEquitiesBulletMarketsFixed Income BulletsForeign Exchange BulletsNorth America
  • US Stocks remain broadly weaker, near late session lows Thursday amid ongoing trade war concerns and disappointing earnings Thursday. Currently, the DJIA trades down 581.39 points (-1.35%) at 42424.02, S&P E-Minis down 126 points (-2.15%) at 5725.75, Nasdaq down 555.6 points (-3%) at 17997.04.
  • Buy the rumor, sell the news? Stocks had bounced off morning lows after Commerce Secretary Lutnick would "likely defer" tariffs on USMCA compliant products - but resumed decline after President Trump confirmed that all Mexican goods subject to duty-free trade under the US-Mexico-Canada Trade Agreement (USMCA) will be exempted from tariffs until April 2, when Trump's reciprocal tariffs go into effect.
  • Information Technology and Consumer Discretionary sectors underperformed in late trade, semiconductor stocks weighing on the tech sector late: Palantir Technologies -9.05%, Oracle Corp-6.53%, Super Micro Computer -6.09%, Broadcom -5.94% and Monolithic Power Systems -5.86%.
  • Tesla -6.09%, Starbucks Corp -5.73% and Airbnb -4.94% weighed on the Discretionary sector as did cruise lines: Carnival Corp-5.91%, Royal Caribbean Cruises -5.62% and Norwegian Cruise Line -5.31%.
  • Energy and Consumer Staples sectors outperformed in late trade, oil and gas shares buoyed the Energy sector Valero Energy +1.67%, Exxon Mobil +1.54%, Chevron +1.00% and Hess +0.97%. Meanwhile, Archer-Daniels-Midland +3.56%, Bunge Global +3.29%, Dollar General +2.99% and Constellation Brands +2.14% helped buoy the Consumer Staples sector.
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  • US Stocks remain broadly weaker, near late session lows Thursday amid ongoing trade war concerns and disappointing earnings Thursday. Currently, the DJIA trades down 581.39 points (-1.35%) at 42424.02, S&P E-Minis down 126 points (-2.15%) at 5725.75, Nasdaq down 555.6 points (-3%) at 17997.04.
  • Buy the rumor, sell the news? Stocks had bounced off morning lows after Commerce Secretary Lutnick would "likely defer" tariffs on USMCA compliant products - but resumed decline after President Trump confirmed that all Mexican goods subject to duty-free trade under the US-Mexico-Canada Trade Agreement (USMCA) will be exempted from tariffs until April 2, when Trump's reciprocal tariffs go into effect.
  • Information Technology and Consumer Discretionary sectors underperformed in late trade, semiconductor stocks weighing on the tech sector late: Palantir Technologies -9.05%, Oracle Corp-6.53%, Super Micro Computer -6.09%, Broadcom -5.94% and Monolithic Power Systems -5.86%.
  • Tesla -6.09%, Starbucks Corp -5.73% and Airbnb -4.94% weighed on the Discretionary sector as did cruise lines: Carnival Corp-5.91%, Royal Caribbean Cruises -5.62% and Norwegian Cruise Line -5.31%.
  • Energy and Consumer Staples sectors outperformed in late trade, oil and gas shares buoyed the Energy sector Valero Energy +1.67%, Exxon Mobil +1.54%, Chevron +1.00% and Hess +0.97%. Meanwhile, Archer-Daniels-Midland +3.56%, Bunge Global +3.29%, Dollar General +2.99% and Constellation Brands +2.14% helped buoy the Consumer Staples sector.