Wall Street Update: Markets React to Tariff Uncertainty
Wall Street today: US stocks edge higher ahead of tariff deadline; Nasdaq gains 50 points, S&P 500 up 0.1%

Wall Street experienced slight gains on Wednesday as investors analyzed a plethora of corporate earnings to assess how businesses are navigating President Donald Trump's tariffs. The Nasdaq rose by 60 points or 0.29%, reaching 20,977. The S&P 500 followed suit with a modest increase of 11 points, up by 0.18% to 6310. On the other hand, the DJIA dipped by 12 points or 0.03% to settle at 44,099 by 7:25 PM IST.

There was a glimmer of hope after Trump mentioned that Washington was "very close to a deal" to extend the tariff truce with China. However, markets remained cautious as a new round of duties on numerous economies was scheduled to take effect from Thursday. Oil prices also climbed following Trump's threat to impose higher tariffs on India due to its continued purchase of Russian crude oil.

On the earnings front, McDonald's and Shopify witnessed their shares rise after posting strong profit numbers. Conversely, Super Micro Computer saw a sharp decline as its earnings and revenue fell below analysts' expectations. Disney also experienced a drop in early trading despite surpassing profit forecasts, disappointing investors with lower-than-expected revenue.

The trading session continued the recent trend of calmer market movements, following a period of significant fluctuations.

Earlier on Tuesday, stocks closed slightly lower after a discouraging report on business activity in US service sectors, including transportation and retail, raised concerns about the potential impact of President Trump's tariffs on the economy.

Stay informed with the latest business news, updates on bank holidays, and public holidays.

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