The S&P 500 traded around the flatline and the Nasdaq declined 0.2% while the Dow Jones gained about 210 points on Wednesday, as traders awaited further clarity on trade policy amid growing concerns over the economic outlook. On Tuesday, President Trump reaffirmed his opposition to too many exceptions on reciprocal tariffs, set to take effect on April 2nd.
Meanwhile, durable goods orders were mixed, with total orders surprisingly rising while orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, fell 0.3%, missing forecasts of a 0.2% increase.
The energy sector was the top performer, with Chevron gaining 1.3% while tech and communication services fell the most. Megacap stocks were mostly lower, namely Microsoft (-0.2%), Nvidia (-2.2%), Amazon (-0.2%), Meta (-0.3%), and Alphabet (-0.8%). Also, Tesla was down 1.9% while Apple shares managed to stay in the green (0.1%).
Source: Trading Economics
