US open: Stocks mixed amid ongoing tariff uncertainty
By Iain Gilbert
Date: Monday 03 Mar 2025
(Sharecast News) - Wall Street trading got off to a mixed start on Monday amid ongoing uncertainty surrounding Donald Trump's import tax proposals.
As of 1555 GMT, the Dow Jones Industrial Average was up 0.06% at 43,868.35, while the S&P 500 lost 0.06% to 5,950.90 and the Nasdaq Composite came out the gate 0.30% firmer at 18,790.47.
The Dow opened just 27.44 points higher on Monday, modestly extending gains recorded in the previous session.
Trump's policy proposals remained in focus at the open as he continued to stir up market volatility, with Berkshire Hathaway chief executive Warren Buffett also cautioning that punitive duties could trigger inflation and hurt consumers.
"They're an act of war, to some degree," said Buffett. "Over time, they are a tax on goods. I mean, the Tooth Fairy doesn't pay 'em."
Commerce secretary Howard Lutnick noted that while the exact tariff set to be levied against Mexico and Canada was still "fluid", the additional 10% duty on Chinese imports was "set", while Treasury secretary Scott Bessent also revealed that Mexico has offered to match the White House's tariffs on China, possibly as a way of getting out of the tariffs itself.
Cryptocurrencies were also in focus prior to the opening bell after Trump revealed that the US government would create a strategic crypto reserve, sending Bitcoin up 10% to almost $94,000, just days after dropping to a three-month low of less than $80,000.
On the macro front, S&P Global's manufacturing PMI rose to 52.7 in February, ahead of preliminary estimates of 51.6 and up from 51.2 in January for the strongest growth since June 2022. However, there was some evidence that the expansion was partly due to advanced purchases in anticipation of potential price increases and supply disruptions as a result of Trump's impending tariffs.
Elsewhere, construction spending decreased by 0.2% month-on-month to $2.12trn in January, according to the Census Bureau, following December's 0.5% increase and missing expectations for a flat month-on-month reading. Private spending was down 0.2%, while public construction slumped 1.1%.
Finally, the Institute for Supply Management's manufacturing index fell to 50.3 in February, down from 50.9 in January and missing forecasts for a reading of 50.5.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $24.47 7.59%
Apple Inc. (AAPL) $241.57 2.54%
Amgen Inc. (AMGN) $311.13 1.24%
Microsoft Corp. (MSFT) $393.85 1.24%
Cisco Systems Inc. (CSCO) $64.39 0.96%
Visa Inc. (V) $362.71 0.00%
Merck & Co. Inc. (MRK) $92.25 0.00%
Caterpillar Inc. (CAT) $343.95 0.00%
Unitedhealth Group Inc. (UNH) $474.96 0.00%
Home Depot Inc. (HD) $396.60 0.00%
Dow Jones - Fallers
Walgreens Boots Alliance, Inc. (WBA) $10.48 -3.19%
Procter & Gamble Co. (PG) $173.84 0.00%
Dow Chemical Co. (DOW) $38.11 0.00%
Visa Inc. (V) $362.71 0.00%
Merck & Co. Inc. (MRK) $92.25 0.00%
Caterpillar Inc. (CAT) $343.95 0.00%
JP Morgan Chase & Co. (JPM) $264.65 0.00%
American Express Co. (AXP) $300.96 0.00%
Unitedhealth Group Inc. (UNH) $474.96 0.00%
Home Depot Inc. (HD) $396.60 0.00%
S&P 500 - Risers
Intel Corp. (INTC) $24.47 7.59%
Nektar Therapeutics (NKTR) $0.84 7.30%
Wynn Resorts Ltd. (WYNN) $93.15 6.17%
Microchip Technology Inc. (MCHP) $59.83 5.46%
Micron Technology Inc. (MU) $94.64 4.75%
Lam Research Corp. (LRCX) $79.19 4.31%
KLA-Tencor Corp. (KLAC) $725.11 4.28%
Qorvo, Inc. (QRVO) $73.03 4.10%
TripAdvisor Inc. (TRIP) $15.06 3.82%
Texas Instruments Inc (TXN) $198.94 3.78%
S&P 500 - Fallers
Walgreens Boots Alliance, Inc. (WBA) $10.48 -3.19%
Incyte Corp. (INCY) $71.25 -3.00%
DENTSPLY Sirona Inc. (XRAY) $16.53 -2.76%
Autodesk Inc. (ADSK) $278.59 -2.18%
Regeneron Pharmaceuticals Inc. (REGN) $687.86 -1.92%
Monster Beverage Corp (MNST) $55.19 -1.60%
Align Technology Inc. (ALGN) $183.13 -1.42%
Illumina Inc. (ILMN) $87.49 -1.41%
American Airlines Group (AAL) $14.47 -1.40%
Dollar Tree Inc (DLTR) $72.03 -1.35%
Nasdaq 100 - Risers
Tesla Inc (TSLA) $297.83 8.66%
Intel Corp. (INTC) $24.47 7.59%
Wynn Resorts Ltd. (WYNN) $93.15 6.17%
Microchip Technology Inc. (MCHP) $59.83 5.46%
Trip.com Group Limited (TCOM) $59.78 5.25%
Micron Technology Inc. (MU) $94.64 4.75%
Lam Research Corp. (LRCX) $79.19 4.31%
KLA-Tencor Corp. (KLAC) $725.11 4.28%
Asml Holdings N.V. (ASML) $729.18 4.17%
Texas Instruments Inc (TXN) $198.94 3.78%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.29 -13.24%
Walgreens Boots Alliance, Inc. (WBA) $10.48 -3.19%
Incyte Corp. (INCY) $71.25 -3.00%
DENTSPLY Sirona Inc. (XRAY) $16.53 -2.76%
Autodesk Inc. (ADSK) $278.59 -2.18%
Regeneron Pharmaceuticals Inc. (REGN) $687.86 -1.92%
Monster Beverage Corp (MNST) $55.19 -1.60%
Align Technology Inc. (ALGN) $183.13 -1.42%
Illumina Inc. (ILMN) $87.49 -1.41%
American Airlines Group (AAL) $14.47 -1.40%
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