US open: Stocks mixed following Trump's tariff update, Nvidia earnings
By Iain Gilbert
Date: Thursday 27 Feb 2025
(Sharecast News) - Wall Street trading got off to a mixed start on Thursday following earnings from AI-darling Nvidia overnight and an update from Donald Trump regarding his proposed tariffs on a number of America's largest trading partners.
As of 1520 GMT, the Dow Jones Industrial Average was up 0.61% at 43,697.98, while the S&P 500 ticked up 0.01% to 5,956.93 and the Nasdaq Composite came out the gate 0.48% weaker at 18,983.76.
The Dow opened 264.86 points higher on Thursday, reversing losses recorded in the previous session amid continued uncertainty surrounding Donald Trump's ongoing trade war.
Trump said on Thursday that his proposed tariffs on Mexico and Canada would come into effect on 4 March and also stated that Chinese imports would be hit with an additional 10% tariff. Trump's sweeping 25% tariffs on imports from Mexico and Canada were put on a one-month pause back on 3 February.
He also said China, which has already been slapped with a 10% tariff on its products, will be charged an additional 10% tariff and added, that the April Second Reciprocal Tariff date "will remain in full force and effect". However, Trump's claims contradict comments made by National Economic Council director Kevin Hasset, who said the president would make a decision on tariffs "for all countries" after evaluating a study set to take place on 1 April.
On the macro front, Americans lined up for unemployment benefits at an accelerated clip in the week ended 22 February, according to the Labor Department. Initial jobless claims surged by 22,000 to 242,000 last week, the biggest increase in more than two months and far above expectations for a broadly flat reading of 221,000, while continuing claims eased by 5,000 at 1.86m. The four-week moving average, which aims to smooth out week-to-week volatility, increased by 8,500 week-on-week to 224,000.
On another note, the Bureau of Economic Analysis said the US economy grew at an unrevised 2.3% year-on-year clip in Q4, unchanged from advanced estimates but down from Q3's 3.1% annualised growth.
Still on data, the National Association of Realtors pending home sales index decreased by 4.6% year-on-year in January to a record low of 70.6, far bigger than the 1.3% fall predicted by economists. Pending home sales dropped 5.2% following December's 5% drop.
Still to come, the Kansas Federal Reserve's February manufacturing index will follow at 1600 GMT.
In the corporate space, Nvidia traded slightly higher at the open after the chipmaker beat fourth-quarter estimates on both the top and bottom lines and issued strong forward guidance, pointing to continued demand despite the emergence of Chinese competitor DeepSeek, while Salesforce shares headed south following disappointing Q4 revenues and a softer-than-expected outlook.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Walgreens Boots Alliance, Inc. (WBA) $11.44 3.58%
3M Co. (MMM) $150.60 2.15%
Travelers Company Inc. (TRV) $253.25 1.77%
Unitedhealth Group Inc. (UNH) $471.43 1.69%
Merck & Co. Inc. (MRK) $90.68 1.45%
Visa Inc. (V) $355.70 1.45%
McDonald's Corp. (MCD) $308.46 1.38%
Boeing Co. (BA) $175.14 1.21%
Amgen Inc. (AMGN) $309.99 1.18%
JP Morgan Chase & Co. (JPM) $261.44 1.02%
Dow Jones - Fallers
Salesforce.Com Inc. (CRM) $293.94 -4.36%
Nike Inc. (NKE) $79.71 -1.80%
Dow Chemical Co. (DOW) $38.51 -0.88%
Apple Inc. (AAPL) $239.24 -0.47%
International Business Machines Corporation (CDI) (IBM) $254.66 -0.46%
Walt Disney Co. (DIS) $111.34 -0.44%
Microsoft Corp. (MSFT) $399.13 -0.15%
Johnson & Johnson (JNJ) $162.96 -0.08%
Caterpillar Inc. (CAT) $342.50 -0.02%
Dowdupont Inc. (DWDP) $0.00 0.00%
S&P 500 - Risers
Universal Health Services Inc. (UHS) $193.78 7.58%
Unum Group (UNM) $82.15 6.30%
FMC Technologies Inc. (FTI) $29.17 4.59%
Walgreens Boots Alliance, Inc. (WBA) $11.44 3.58%
Allstate Corp (The) (ALL) $193.95 2.93%
Elevance Health Inc. (ELV) $396.96 2.81%
Centene Corp. (CNC) $58.41 2.65%
Humana Inc. (HUM) $261.80 2.64%
Lincoln National Corp. (LNC) $38.22 2.25%
3M Co. (MMM) $150.60 2.15%
S&P 500 - Fallers
Teleflex Inc. (TFX) $140.76 -20.76%
Bath & Body Works, Inc. (BBWI) $36.50 -11.15%
eBay Inc. (EBAY) $62.09 -10.20%
FirstEnergy Corp. (FE) $39.63 -7.96%
Norwegian Cruise Line Holdings Ltd (NCLH) $23.52 -6.09%
Apache Corp. (APA) $20.77 -5.61%
American Airlines Group (AAL) $14.44 -4.87%
Salesforce.Com Inc. (CRM) $293.94 -4.36%
Agilent Technologies Inc. (A) $129.17 -3.94%
Arista Networks Inc. (ANET) $92.72 -3.80%
Nasdaq 100 - Risers
Walgreens Boots Alliance, Inc. (WBA) $11.44 3.58%
Seagate Technology Plc (STX) $102.21 1.93%
Regeneron Pharmaceuticals Inc. (REGN) $717.36 1.47%
Biomarin Pharmaceutical Inc. (BMRN) $69.73 1.34%
Biogen Inc (BIIB) $142.35 1.32%
Amgen Inc. (AMGN) $309.99 1.18%
Vertex Pharmaceuticals Inc. (VRTX) $484.32 1.09%
Gilead Sciences Inc. (GILD) $111.61 1.04%
O'Reilly Automotive Inc. (ORLY) $1,342.51 0.91%
Western Digital Corp. (WDC) $50.61 0.90%
Nasdaq 100 - Fallers
eBay Inc. (EBAY) $62.09 -10.20%
American Airlines Group (AAL) $14.44 -4.87%
Qvc Group Inc Series A (QVCGA) $0.39 -4.46%
Micron Technology Inc. (MU) $94.23 -3.56%
DENTSPLY Sirona Inc. (XRAY) $18.15 -3.51%
Nvidia Corp. (NVDA) $127.34 -3.00%
Illumina Inc. (ILMN) $91.52 -2.69%
Mercadolibre Inc. (MELI) $2,144.23 -2.43%
Trip.com Group Limited (TCOM) $57.29 -2.24%
Asml Holdings N.V. (ASML) $730.41 -2.21%
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