(Sharecast News) - Major indices were in the red at the opening bell as investors patiently awaited Donald Trump's so-called 'Liberation Day' tariff announcements.
As of 1515 BST, the Dow Jones Industrial Average was down 0.28% at 41,872.73, while the S&P 500 lost 0.43% to 5,609.08 and the Nasdaq Composite came out the gate 0.41% weaker at 17,378.36.
The Dow opened 117.23 points lower on Wednesday, extending modest losses recorded in the previous session.
Today's primary focus will undoubtedly be Donald Trump's long-awaited tariff announcement at 2100 BST, with his "reciprocal tariffs" said to hit "all countries" be "effective immediately".
Treasury Secretary Scott Bessent said on Tuesday that the new duties would act as a "cap" and that the US would give other nations the chance to take certain steps to lower the tariffs. According to The Washington Post, the White House was said to also be mulling over the idea of slapping levies of roughly 20% on most imports coming into the US.
Ahead of the announcement, the yield on the benchmark 10-year Treasury note was up more than two basis points at 4.176% prior to the open, while its two-year counterpart was also up over two-basis points at 3.883%.
On the macro front, US businesses added 155,000 workers to their payrolls in March, according to ADP, following an upwardly revised print of 84,000 in February and above market expectations of 105,000. "Despite policy uncertainty and downbeat consumers, the bottom line is this: The March topline number was a good one for the economy and employers of all sizes, if not necessarily all sectors", said ADP chief economist Nela Richardson.
On another note, mortgage applications in the US have fallen for the third straight week, according to data out on Wednesday from the Mortgage Bankers Association of America. Applications were down 1.6% in the seven days to 28 March, following a 2.0% drop the preceding week and a 6.2% plunge the week before. Applications for new home purchases rose for the sixth straight week, increasing 1.5% to a nine-week high. However, refinancing applications dropped 5.6% to their lowest mark in five weeks.
Finally, new orders for US factory-made goods increased by 0.6% month-on-month in February, according to the Census Bureau, following January's upwardly revised 1.8% increase and slightly exceeding expectations for a 0.5% uptick.
In the corporate space, electric carmaker Tesla was down roughly 3% at the open after it reported Q1 deliveries that fell short of expectations on the Street.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $381.31 2.10%
Apple Inc. (AAPL) $222.58 1.47%
Goldman Sachs Group Inc. (GS) $553.18 0.86%
Johnson & Johnson (JNJ) $154.45 0.78%
JP Morgan Chase & Co. (JPM) $245.10 0.59%
American Express Co. (AXP) $271.39 0.34%
Dowdupont Inc. (DWDP) $0.00 0.00%
Coca-Cola Co. (KO) $71.74 -0.18%
Dow Chemical Co. (DOW) $34.53 -0.22%
Walgreens Boots Alliance, Inc. (WBA) $11.15 -0.22%
Dow Jones - Fallers
Amgen Inc. (AMGN) $301.25 -3.15%
Intel Corp. (INTC) $21.84 -2.39%
Merck & Co. Inc. (MRK) $85.58 -1.77%
Travelers Company Inc. (TRV) $261.13 -1.29%
Chevron Corp. (CVX) $166.66 -1.10%
Procter & Gamble Co. (PG) $168.77 -1.05%
Boeing Co. (BA) $166.66 -0.90%
3M Co. (MMM) $146.43 -0.84%
Verizon Communications Inc. (VZ) $45.01 -0.82%
Visa Inc. (V) $343.58 -0.80%
S&P 500 - Risers
United Airlines Holdings Inc (UAL) $69.00 3.38%
Under Armour Inc. Class A (UAA) $6.55 3.23%
Illumina Inc. (ILMN) $81.28 2.82%
Paypal Holdings Inc (PYPL) $66.38 2.55%
Under Armour, Inc. (UA) $6.26 2.54%
Gap Inc. (GAP) $21.75 2.52%
Take-Two Interactive Software Inc. (TTWO) $210.19 2.41%
Meta Platforms Inc. (META) $586.82 2.41%
J.B. Hunt Transport Services Inc. (JBHT) $149.67 2.31%
Booking Holdings Inc. (BKNG) $4,670.44 2.15%
S&P 500 - Fallers
Nektar Therapeutics (NKTR) $0.63 -6.75%
Biogen Inc (BIIB) $131.96 -3.61%
Amgen Inc. (AMGN) $301.25 -3.15%
Boston Scientific Corp. (BSX) $98.59 -2.62%
Mosaic Company (MOS) $26.11 -2.57%
Intel Corp. (INTC) $21.84 -2.39%
Progressive Corp. (PGR) $277.52 -2.38%
Regeneron Pharmaceuticals Inc. (REGN) $615.60 -2.33%
Mondelez International Inc. (MDLZ) $66.59 -2.29%
Schlumberger Ltd. (SLB) $41.26 -2.22%
Nasdaq 100 - Risers
Illumina Inc. (ILMN) $81.28 2.82%
Paypal Holdings Inc (PYPL) $66.38 2.55%
Take-Two Interactive Software Inc. (TTWO) $210.19 2.41%
Meta Platforms Inc. (META) $586.82 2.41%
J.B. Hunt Transport Services Inc. (JBHT) $149.67 2.31%
Booking Holdings Inc. (BKNG) $4,670.44 2.15%
Qvc Group Inc Series A (QVCGA) $0.20 2.11%
Microsoft Corp. (MSFT) $381.31 2.10%
Cadence Design Systems Inc. (CDNS) $257.96 2.08%
Amazon.Com Inc. (AMZN) $191.83 2.01%
Nasdaq 100 - Fallers
Biogen Inc (BIIB) $131.96 -3.61%
Biomarin Pharmaceutical Inc. (BMRN) $67.84 -3.55%
Amgen Inc. (AMGN) $301.25 -3.15%
Vodafone Group Plc ADS (VOD) $9.11 -2.74%
Intel Corp. (INTC) $21.84 -2.39%
Regeneron Pharmaceuticals Inc. (REGN) $615.60 -2.33%
Mondelez International Inc. (MDLZ) $66.59 -2.29%
Wynn Resorts Ltd. (WYNN) $81.57 -2.09%
Hologic Inc. (HOLX) $60.18 -2.08%
JD.com, Inc. (JD) $40.81 -2.06%
352.90 (4.38%)
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