US close: Stocks manage small gains on Ukraine-Russia deal
By Josh White
Date: Wednesday 26 Mar 2025
(Sharecast News) - Wall Street closed slightly higher on Tuesday, extending gains from the prior session amid reports of a partial ceasefire agreement between Ukraine and Russia.
The deal, which covers energy infrastructure and the Black Sea, did not seem to significantly sway investor sentiment as market participants continued to look for clarity on the size and shape of president Donald Trump's next round of tariffs.
At the close, the Dow Jones Industrial Average was up 0.01% to 42,587.50, while the S&P 500 gained 0.16% to 5,776.65.
The Nasdaq Composite outperformed, rising 0.46% to 18,271.86, supported by strength in technology shares.
"US stocks squeezed out modest gains on Tuesday, brushing off weaker consumer confidence data as traders held their breath ahead of what's shaping up to be a high-stakes tariff showdown on 2 April," said SPI Asset Management managing partner Stephen Innes.
"The S&P 500 edged up 0.2%, powered once again by mega-cap tech, though beneath the surface, thin volumes and lousy breadth signalled that investor conviction remains paper-thin.
"The drop in consumer confidence wasn't exactly a curveball - Americans are already bracing for higher prices from tariffs, which means increased cost-of-living stress, weaker demand for domestic goods, and eventually a hit to jobs. It's economics 101."
Consumer confidence falls sharply in March
In economic news, the Conference Board's consumer confidence index fell sharply in March, dropping 7.2 points to 92.9.
Notably, the gauge of consumer expectations fell to its lowest level in 12 years, underscoring a decline in sentiment about future economic conditions.
Manufacturing activity also showed signs of strain.
The Richmond Federal Reserve's regional factory index dropped to -4 in March from 6.0 the previous month, well below the consensus forecast of 8.0.
A negative reading indicates contraction in the region's manufacturing sector.
Adding to the cautious tone, HSBC downgraded its view on US equities by two notches, citing persistent policy uncertainty.
Analysts at the bank said they saw little chance of clarity emerging after 2 April, when the Trump administration's reciprocal tariffs are scheduled to take effect.
According to HSBC, extended uncertainty could begin to weigh more visibly on both leading indicators and concrete economic data.
Disney, Apple in the green, Merck falls despite licensing deal news
In equities, Walt Disney shares rose 1.43% after the company confirmed the results of its 20 March annual shareholder meeting.
All board members were re-elected, though Mary T Barra received the most opposition among candidates.
Shareholders ratified the appointment of PwC as auditors for 2025 and approved an advisory vote on executive compensation.
Three shareholder proposals - related to climate risk reporting, inclusion in the Corporate Equality Index, and ad buyer risk disclosures - were all defeated, with the climate-related measure receiving the strongest support.
Elsewhere, Apple gained 1.37% after announcing dates for its upcoming Worldwide Developers Conference.
The event, scheduled for 9-13 June and primarily online, would showcase updates to its operating systems across devices, including iPhones and iPads.
On the downside, Merck fell 4.81% following news of a new licensing deal with Jiangsu Hengrui Pharmaceuticals.
The agreement gives Merck exclusive rights to develop HRS-5346, a phase 2 cardiovascular drug candidate.
Citi maintained a 'buy' rating and a $115 price target, but the announcement weighed on investor sentiment.
Retail giant Walmart declined 3.12% as investors remained cautious ahead of the 2 April implementation of new tariffs under president Trump.
Uncertainty over the scope and impact of the measures pressured shares of the retail giant.
Reporting by Josh White for Sharecast.com.
Dow Jones - Risers
Walt Disney Co. (DIS) $101.61 1.43%
Apple Inc. (AAPL) $223.75 1.37%
JP Morgan Chase & Co. (JPM) $251.13 1.24%
Goldman Sachs Group Inc. (GS) $586.01 1.01%
Boeing Co. (BA) $182.59 0.93%
Salesforce.Com Inc. (CRM) $288.61 0.93%
International Business Machines Corporation (CDI) (IBM) $249.96 0.58%
Chevron Corp. (CVX) $165.93 0.56%
Microsoft Corp. (MSFT) $395.16 0.53%
American Express Co. (AXP) $279.07 0.51%
Dow Jones - Fallers
Merck & Co. Inc. (MRK) $87.87 -4.81%
Walmart Inc. (WMT) $84.76 -3.12%
Dow Chemical Co. (DOW) $35.31 -2.67%
Amgen Inc. (AMGN) $306.86 -2.39%
Procter & Gamble Co. (PG) $162.85 -1.69%
Johnson & Johnson (JNJ) $161.02 -1.39%
Nike Inc. (NKE) $66.55 -1.26%
Home Depot Inc. (HD) $360.91 -0.76%
Unitedhealth Group Inc. (UNH) $513.43 -0.59%
Walgreens Boots Alliance, Inc. (WBA) $11.12 -0.27%
S&P 500 - Risers
International Paper Co. (IP) $56.31 6.49%
Qorvo, Inc. (QRVO) $75.63 3.73%
Freeport-McMoRan Inc (FCX) $43.01 3.36%
Netflix Inc. (NFLX) $997.28 2.60%
Universal Health Services Inc. (UHS) $185.91 2.38%
Northrop Grumman Corp. (NOC) $506.53 2.33%
Adobe Systems Inc. (ADBE) $403.64 2.32%
Fortinet Inc. (FTNT) $102.09 2.30%
Occidental Petroleum Corp. (OXY) $49.01 2.27%
National Oilwell Varco Inc. (NOV) $15.46 2.25%
S&P 500 - Fallers
CenturyLink Inc. (LUMN) $4.40 -9.47%
Leggett & Platt Inc. (LEG) $8.02 -6.42%
United Parcel Service Inc. (UPS) $109.95 -5.05%
Merck & Co. Inc. (MRK) $87.87 -4.81%
Regeneron Pharmaceuticals Inc. (REGN) $634.14 -4.06%
AbbVie Inc (ABBV) $201.34 -3.74%
Dollar Tree Inc (DLTR) $67.14 -3.73%
Crown Castle International (CCI) $100.45 -3.70%
PVH Corp. (PVH) $66.78 -3.64%
Under Armour Inc. Class A (UAA) $6.39 -3.33%
Nasdaq 100 - Risers
Qvc Group Inc Series A (QVCGA) $0.26 22.24%
Tesla Inc (TSLA) $288.14 3.50%
Mercadolibre Inc. (MELI) $2,191.30 2.67%
Netflix Inc. (NFLX) $997.28 2.60%
Adobe Systems Inc. (ADBE) $403.64 2.32%
Intuitive Surgical Inc. (ISRG) $519.81 2.21%
Take-Two Interactive Software Inc. (TTWO) $217.95 2.08%
Charter Communications Inc. (CHTR) $375.01 2.04%
Alphabet Inc. Class A (GOOGL) $170.56 1.72%
Alphabet Inc. Class C (GOOG) $172.79 1.68%
Nasdaq 100 - Fallers
Regeneron Pharmaceuticals Inc. (REGN) $634.14 -4.06%
Dollar Tree Inc (DLTR) $67.14 -3.73%
Micron Technology Inc. (MU) $94.18 -2.85%
Microchip Technology Inc. (MCHP) $52.36 -2.84%
American Airlines Group (AAL) $11.51 -2.70%
JD.com, Inc. (JD) $41.47 -2.58%
Amgen Inc. (AMGN) $306.86 -2.39%
Western Digital Corp. (WDC) $43.39 -2.08%
Henry Schein Inc. (HSIC) $69.38 -1.95%
Hologic Inc. (HOLX) $60.80 -1.76%
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