Dow rises 300 points, hits high of the session as Lutnick hints trade deal coming: Live updates

The rose on Tuesday, hitting its highs of the day as the White House said a major trade deal was close to being announced

The blue-chip Dow climbed 319 points, or almost 1%. The gained 0.6%, putting it on pace to close with its sixth consecutive day of gains. Meanwhile, the advanced 0.6%.

"I have a deal done, done, done, done, but I need to wait for their prime minister and their parliament to give its approval, which I expect shortly," Commerce Secretary Howard Lutnick C온라인카지노사이트 in the afternoon, without naming the country.

Stocks were treading water for most of the session before Lutnick's comments.

Major stocks impacted from the trade war like and came off their lows of the session in the afternoon. GM said Tuesday morning that it was as it awaits clarity on the impact from the levies.

shares likewise turned around after it said a plan to display tariff surcharges on its site for discount store Amazon Haul was "." The stock dropped earlier Tuesday after White House press secretary Karoline Leavitt such a move would be considered a "."

"Until we get some resolution on the trade front, I don't think much else matters," said Ross Mayfield, investment strategist at Baird, adding that the S&P 500 could trade between 5,100 and 5,700 while investors await trade progress.

Markets were also churning from a glut of earnings this week with about one-third of S&P 500-listed firms slated to post results between Monday and Friday. Big Tech is of particular focus, with and expected on Wednesday, and Apple and scheduled for Thursday.

"I don't know that there's much that could come out from this earnings quarter that would materially impact markets to the upside or downside," said Mayfield. "We're in a policy-induced sell-off and potential recession, and it's going to take a policy change to get us out of there."

Helping lead the Dow higher, surged about 5% after the company's latest quarterly results beat analyst estimates.

Some economists now see economy contracting in Q1

Multiple Wall Street economists now expect the Commerce Department to report Thursday that the U.S. economy contracted in the first quarter.

Following a report Wednesday that the U.S. goods trade deficit swelled to a record $162 billion in March, the view on the gross domestic product report turned sour.

Goldman Sachs cut its Q1 outlook to -0.8% annualized from the fourth quarter of 2024, a move it attributed to the 9.6% increase in the goods deficit due to "an increase in imports of consumer goods, likely reflecting front-loading of imports ahead of tariff increases." Previously, Goldman was looking for a 0.2% decline.

Likewise, Jefferies now sees a GDP drop of 0.2%, down from a previous forecast of a 0.9% increase. BNP Paribas cut its outlook by a full percentage point, down to -0.6%. JPMorgan chief U.S. economist Michael Gapen told C온라인카지노사이트 he expects GDP to contract by 1.5%.

— Jeff Cox

Gilead Sciences agrees to pay $202 million to settle claims of kickbacks for HIV drug prescriptions

Prosecutors announced on Tuesday that agreed to pay $202 million to settle claims it "unlawfully" used speaker programs to funnel kickbacks to doctors to induce them to prescribe the pharmaceutical company's medications to patients with HIV.

"Gilead spent tens of millions of dollars on these programs, including over $20 million in speaking fees and millions more in exorbitant meals, alcohol and travel, all in an effort to induce doctors to prescribe Gilead's HIV drugs and drive up sales," interim Manhattan U.S. Attorney Jay Clayton said in a statement.

Gilead will pay the settlement to the U.S. government and various states. The stock was last trading unchanged on the day.

— Dan Mangan, Lisa Kailai Han

4 stocks hit new 52-week lows

Four stocks reached new 52-week lows on Tuesday:

• trading at lows not seen since May 2019.
• trading at lows not seen since March 2021.
• trading at lows not seen since March 2021.
• trading at lows not seen since November 2023.

By contrast, shares of global consumer and commercial services company were trading at all-time high levels dating back to when the stock began trading on the New York Stock Exchange in 1968.

— Sean Conlon, Christopher Hayes

See the stocks moving midday

These are the stocks making the biggest moves midday:

•  — Shares of the music streaming company lost 3.8% on the back of disappointing results for operating income in the first quarter. 
•  — Shares ticked down 2% after the automaker said it was  due to concerns over tariffs and macroeconomic uncertainty.
•  — Shares of the telehealth company soared 26% following news that  Wegovy through Hims' platform, as well as Ro and LifeMD.

— Alex Harring

Wolfe Research indicates stagflation fears

Near-term economic indicators could signal stagflation — or high inflation, high unemployment and low growth — according to Wolfe Research. This could further depress equities, the firm added. 

"Although initial jobless claims have yet to signal that hiring is rolling over and the economy is weakening in real time, with CEO confidence falling and business investment on hold due to the overhang of tariff policy, our sense is we could see a weaker payrolls report on the horizon," chief investment strategist Chris Senyek wrote in a note Tuesday.

A flurry of economic reports, including GDP numbers for the first quarter, the PCE price index and consumer spending numbers for March are expected Wednesday morning. 

— Hakyung Kim

S&P 500 could fall to 4,600, Deutsche Bank strategist says

The S&P 500 is trading in a wide range on tariff uncertainty, and could fall as low as 4,600 before rising again, according to Deutsche Bank.

"We think of the S&P 500 basically inhabiting a very wide range, all the way down to 4,600, which we actually haven't been to in the pullback so far. And that would correspond to, you know, typical recession sell down, 25% down, from the peak," Deutsche's Binky Chadha told C온라인카지노사이트's "Money Movers." "I would put the upper end basically where our measures say equity positioning would be neutral."

"So, you're caught between, you know, these rallies on the trade relents and positive news and potential for trade deals, and on the other side, the economy is weakening, so I would argue it's still wide," Chadha added.

Chadha expects the S&P 500 will end the year at 6,150. The broad market index was last around 5,540.

— Sarah Min

Market pullbacks will be short-lived, RBC Capital Markets says

Although weakness in U.S. equities is likely to occur in the next couple of weeks, pullbacks will be short-lived, according to RBC Capital Markets.

"The bottom line is we continue to expect 2025 to remain volatile, requiring investors to be more active to participate in the intermediate-term, 1-2 quarter swings, that we expect will dominate markets through year-end," technical strategist Robert Sluymer said in a Tuesday note to clients.

Growth and cyclical stocks will continue to recover from oversold levels, he said. Still, names such as , and are among those that have bottomed in the intermediate term and are likely to see "shallow pullbacks" in the next one to two weeks, he said.

— Pia Singh

'Significant risks' April payroll number will miss Street estimates, Apollo's Slok says

"There are significant risks" Friday's nonfarm payroll report for April will miss Wall Street consensus estimates calling for an increase of 130,000 jobs, and might even be negative, Apollo Global Management chief economist Torsten Slok told clients Tuesday.

Slok said the establishment survey and the household survey were both conducted the week that high tariffs were announced earlier this month, when there were "extreme levels of uncertainty for businesses."

"Some leading indicators suggest we could see a dramatic weakening in the labor market over the coming months," Slok wrote.

— Scott Schnipper

Spending on big-ticket items surged in April ahead of tariff impact, Barclays says

Consumer spending data for April may show a strong increase as U.S. consumers try to stock up ahead of potential price hikes from tariffs.

Barclays analyst Haviland Sheldahl-Thomason said in a note to clients that consumers seem to be aware of the potential effects of tariffs in the weeks ahead and have been spending accordingly.

"Spend on electronics, wholesale, and big ticket goods has surged in April compared to last year as consumers may be stocking up before tariff implementation," Sheldahl-Thomason said.

This jump in spending could boost some large retailers.

"Best Buy is again the store with the highest growth in transactions, followed closely by Costco. It should be noted that transactions at Costco have been up for most of 2025, but there is still a notable uptick in their transactions post-Liberation Day," the note said.

Sheldahl-Thomason did say that some seasonal factors, such as the timing of Easter, could also be contributing to spending changes.

— Jesse Pound

Port of Los Angeles expects incoming shipments from China to fall sharply next week

Gene Seroka, the executive director of the Port of Los Angeles, said Tuesday on  that he expects a dramatic year-over-year decline in incoming shipments next week as the tariffs on China start to affect the U.S. economy.

"According to our own port optimizer, which measures the loadings in Asia, we'll be down just a little bit compared to last year. And it's a precipitous drop in volume with a number of major American retailers stopping all shipments from China based on the tariffs," Seroka said.

— Jesse Pound

Stocks open lower on Tuesday

Stocks traded lower Tuesday morning.

The S&P 500 dropped 0.3% shortly after the opening bell, while the Nasdaq Composite traded down 0.4%. The Dow Jones Industrial Average traded around the flatline.

— Sean Conlon

Honeywell shares gain following strong quarterly results

shares jumped more than 4% in the premarket after the company posted better-than-expected first-quarter results.

For the period, Honeywell posted adjusted earnings of $2.51 per share on $9.82 billion in revenue, above the consensus estimate of $2.21 per share on $9.59 billion in revenue, according to LSEG.

The company also updated its 2025 forecast, expecting adjusted earnings for the full year to come in between $10.20 and $10.50 per share. That is up from its prior guidance of $10.10 to $10.50 per share.

"Guidance incorporates the net expected impact of current tariffs, mitigation actions, and global demand uncertainty," the company said in a .

— Sean Conlon

Stocks making the biggest moves premarket

Check out some of the companies making headlines in premarket trading:

• — The music streaming stock tumbled 5% after reporting first-quarter operating income of 509 million euros, while analysts polled by FactSet had penciled in 519.9 million euros. Spotify's 4.2 billion euros in revenue was in line with estimates, while its monthly active users of 678 million was in line with prior guidance.
• — Stock in the U.S. automaker slipped about 2% before the opening bell. General Motors on the top and bottom lines, but said it would reassess its full-year outlook due to President Trump's tariffs and broader macroeconomic uncertainty. The company also said it would suspend additional stock buybacks.
• — Stock in the telehealth company surged more than 39% following news that Wegovy through Hims' platform, as well as Ro and LifeMD.

Read the full list .

— Brian Evans

Royal Caribbean pops on earnings beat, guidance raise

Shares of jumped 4.5% in premarket trading after the cruise operator reported an earnings beat for its first quarter and raised its full-year guidance.

The company's adjusted quarterly earnings came in at $2.71 per share, versus the $2.54 a share expected from analysts polled by LSEG. Revenue was $4 billion, just shy of the $4.02 billion consensus estimate.

The cruise line saw record bookings during its wave season.

"Bookings for 2025 have remained on track, cancellation levels are normal, and we continue to see excellent close-in demand," CEO Jason Liberty said in the earnings release.

For the full year, Royal Caribbean now expects adjusted earnings of $14.55 to $15.55 per share, compared to its prior guidance of $14.35 to $14.65 per share. Analysts polled by FactSet were expecting full-year guidance of $14.94 per share. The company said it expanded its guidance range due to the complexity of the macroeconomic environment.

— Michelle Fox

Coca-Cola shares rise after company beats earnings expectations, reiterates 2025 guidance despite tariffs

Shares of rose more than 1% in premarket trading after the beverage giant's topped analysts' estimates.

Coke also kept its full-year guidance and said it anticipates any effects on global trade from Trump's tariffs will be "manageable."

The move higher comes as the stock has already had a positive year, outpacing the broader market with a year-to-date gain of more than 15%.

— Sean Conlon, Amelia Lucas

GM beats profit outlook but removes guidance on tariff uncertainty

General Motors topped profit expectations{=null} for the first quarter but said it was reassessing guidance due to uncertainty from Trump's tariffs.

In addition to reassessing its full-year profit guidance, the automaker said it is suspending further stock buybacks as it looks at cost increases related to the duties.

The company reported adjusted earnings per share of $2.78 against LSEG estimates for $2.74, with $44.02 billion in revenue topping the $43.05 billion forecast.

shares fell 2% following the announcement.

— Jeff Cox

Asia-Pacific markets trade mixed as Trump softens tariff stance

traded mixed Tuesday, tracking Wall Street after U.S. President Donald Trump's administration said it would move to reduce the impact of auto tariffs, while investors also assessed company earnings.

Market watchers were also closely monitoring developments surrounding trade deal negotiations between the U.S. and countries in the region.

Mainland China's  index fell 0.17% to end the day at 3,775.08, while Hong Kong's  inched up 0.16% to 22,008.11.

India's benchmark  was flat, while the broader BSE Sensex edged up 0.17% as of 2:51 p.m. Indian Standard Time.

Over in South Korea, the  index increased 0.65% to end the day at 2,565.42, while the small-cap Kosdaq added 0.98% to 726.46.

Australia's benchmark advanced 0.92% to end the day at 8,070.60.

Japanese markets were closed for a public holiday.

— Amala Balakrishner

Dow, S&P 500 head for losing April

The and are on track to finish April in the red.

With just two sessions left in the trading month, the Dow and S&P 500 have tumbled more than 4% and 1%, respectively. The , on the other hand, is up 0.4%.

— Alex Harring

See the stocks moving after hours

These are some of the stocks making the biggest moves after hours:

•  — The manufacturer of bedding products surged about 17% after reaffirming full-year guidance. Management said the company should benefit overall from President Donald Trump's tariff plans, but cautioned the levies can hurt consumer confidence and discretionary demand for products, and also push up inflation.
•  — The aerospace parts maker jumped 4.6% on a strong report for the fiscal second quarter. Woodward earned $1.69 per share, excluding items, on $884 million in revenue. Analysts penciled in $1.46 per share in earnings and revenue of $835 million, per LSEG.
•  — The cloud stock rose nearly 2% after earnings for the second fiscal quarter exceeded the Street's projections. F5 earned $3.42 per share, excluding items, on $731 million in revenue, while analysts had penciled in $3.10 in earnings per share and $719 million in revenue.

for the full list.

— Alex Harring

Stock futures tick lower

Stock futures traded slightly down shortly after 6 p.m. ET.

S&P 500 and Nasdaq 100 futures shed 0.2% and 0.3%, respectively. Dow futures ticked down about 0.1%.

— Alex Harring