US close: Stocks higher as tariffs remain in focus
By Iain Gilbert
Date: Tuesday 04 Feb 2025
(Sharecast News) - Major indices closed higher on Tuesday as the effects of the new White House administration's tariffs on a number of its closest trading partners continued to be digested.
At the close, the Dow Jones Industrial Average was up 0.30% at 44,556.04, while the S&P 500 advanced 0.72% to 6,037.88 and the Nasdaq Composite saw out the session 1.35% firmer at 19,654.02.
The Dow closed 134.13 points higher on Tuesday, reversing losses recorded in the previous session after Donald Trump signed an order to impose 25% tariffs on Mexico and Canada, plus a 10% levy on China.
Sentiment got a boost late on Monday after Trump said the duty on Mexican goods would be paused for a month and later agreed to halt the implementation of tariffs against Canada for at least 30 days.
China, however, slapped tariffs of up to 15% on US imports of coal and liquefied natural gas and 10% higher duties on crude oil, farm equipment and selected cars, with effect from 10 February. It also vowed to file a lawsuit with the World Trade Organisation.
Trump also indicated over that the UK and the European Union were next up for a fresh round of tariffs, stating that both were "out of line". While he noted that a deal could possibly be "worked out" with the UK, he stated that EU tariffs "will definitely happen".
In the corporate space, shares in music streaming giant Spotify were up double-digits ahead of the bell on Tuesday after its Q4 earnings beat revenue expectations and it reported its first full-year profit, while PepsiCo fell short of estimates with its latest quarterly revenue performance, and Estee Lauder said Q2 gross profits had fallen 2% on the back of a 6% decline in net sales.
After the close, Google parent company Alphabet was in the red in extended trading after posting a quarterly earnings miss on the back of weaker-than-expected cloud sales, while chipmaker AMD traded higher thanks to a Q4 earnings beat and strong forward guidance.
On the macro front, new orders for goods manufactured in the US sank 0.9% month-on-month to $578.5bn in December, according to the Census Bureau, extending November's revised 0.8% drop and missing market expectations for a smaller 0.7% decline. Transportation goods orders were down 7.4% to $86.14bn due to a plunge in non-defence aircraft orders.
Elsewhere, US job openings fell by 556,000 to 7.6m in December, according to the Census Bureau, missing market expectations for a reading of 8.0m and indicating a gradual cooling of the labour market. Over the same period, hires rose by 89,000 to 5.5m, while total separations were up by 38,000 at 5.3m.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Dow Chemical Co. (DOW) $38.56 3.13%
Chevron Corp. (CVX) $153.22 2.60%
Cisco Systems Inc. (CSCO) $61.34 2.56%
Intel Corp. (INTC) $19.29 2.28%
Salesforce.Com Inc. (CRM) $344.14 1.44%
International Business Machines Corporation (CDI) (IBM) $264.46 1.43%
Walmart Inc. (WMT) $100.77 1.24%
Apple Inc. (AAPL) $232.80 1.18%
3M Co. (MMM) $151.68 1.09%
Johnson & Johnson (JNJ) $153.49 1.07%
Dow Jones - Fallers
Merck & Co. Inc. (MRK) $90.74 -9.07%
Coca-Cola Co. (KO) $62.67 -1.07%
Walgreens Boots Alliance, Inc. (WBA) $9.89 -0.65%
Walt Disney Co. (DIS) $113.30 -0.61%
Unitedhealth Group Inc. (UNH) $545.45 -0.50%
Verizon Communications Inc. (VZ) $39.81 -0.43%
Procter & Gamble Co. (PG) $168.13 -0.37%
Microsoft Corp. (MSFT) $412.37 -0.36%
American Express Co. (AXP) $316.13 -0.22%
Travelers Company Inc. (TRV) $244.06 -0.22%
S&P 500 - Risers
Dollar Tree Inc (DLTR) $74.31 8.83%
Marathon Petroleum Corporation (MPC) $156.91 6.74%
HF Sinclair Corporation (DINO) $37.97 6.72%
Advanced Micro Devices Inc. (AMD) $119.50 5.55%
United Airlines Holdings Inc (UAL) $108.67 5.24%
News Corp Class B (NWS) $32.85 5.02%
Valero Energy Corp. (VLO) $142.99 5.00%
Phillips 66 Common Stock (PSX) $123.61 4.88%
Apache Corp. (APA) $22.39 4.53%
Helmerich & Payne Inc. (HP) $32.63 4.46%
S&P 500 - Fallers
Estee Lauder Co. Inc. (EL) $69.47 -16.07%
Paypal Holdings Inc (PYPL) $77.72 -10.82%
Merck & Co. Inc. (MRK) $90.74 -9.07%
Nektar Therapeutics (NKTR) $0.78 -7.29%
Clorox Co. (CLX) $148.21 -7.24%
Ball Corp (BALL) $51.93 -6.90%
Centene Corp. (CNC) $61.29 -5.45%
Archer-Daniels-Midland Co. (ADM) $47.48 -5.06%
Bread Financial Holdings, Inc. (BFH) $60.14 -4.64%
Illumina Inc. (ILMN) $124.20 -4.62%
Nasdaq 100 - Risers
Dollar Tree Inc (DLTR) $74.31 8.83%
Qurate Retail Inc. (QRTEA) $0.37 7.97%
Mercadolibre Inc. (MELI) $1,966.41 6.42%
Sirius XM Holdings Inc (SIRI) $24.62 5.78%
Baidu Inc. (BIDU) $92.88 4.76%
Costco Wholesale Corp. (COST) $1,021.86 4.38%
Vertex Pharmaceuticals Inc. (VRTX) $482.28 4.22%
Nvidia Corp. (NVDA) $118.65 4.21%
Regeneron Pharmaceuticals Inc. (REGN) $697.05 4.17%
Starbucks Corp. (SBUX) $110.60 4.00%
Nasdaq 100 - Fallers
Paypal Holdings Inc (PYPL) $77.72 -10.82%
Illumina Inc. (ILMN) $124.20 -4.62%
Vodafone Group Plc ADS (VOD) $8.20 -4.32%
Monster Beverage Corp (MNST) $46.61 -2.84%
Mondelez International Inc. (MDLZ) $56.12 -2.08%
NetEase Inc. Ads (NTES) $101.21 -1.63%
Kraft Heinz Co. (KHC) $28.70 -1.51%
Liberty Global plc Series A (LBTYA) $11.22 -1.23%
Fiserv Inc. (FI) $214.46 -1.11%
Charter Communications Inc. (CHTR) $340.26 -0.85%
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