U.S. stocks edged higher on Tuesday, with the S&P 500 and Nasdaq up 0.1% to fresh two-week highs, and the Dow adding 70 points, fueled by hopes that the Trump administration might soften some of its proposed tariff plans.
President Trump announced that not all threatened tariffs would take effect on April 2nd, with some countries possibly receiving exemptions, though new levies on autos, pharmaceuticals, and a 25% tariff on crude from Venezuela were signaled.
Meanwhile, Fed Governor Kugler acknowledged that monetary policy remains restrictive but noted that progress toward the 2% inflation target has slowed since last summer, citing the recent uptick in goods inflation as "unhelpful."
In corporate news, Tesla shares dropped 1% following a decline in the company's European market share. UniFirst fell over 12% after Cintas ended talks to acquire the workwear provider in a deal valued at $275 per share, while KB Home dropped 6% after lowering its full-year 2025 revenue forecast.
Source: Trading Economics
