S&P 500 ends sharply higher, Nvidia and Tesla rally
Mon March 24, 2025 4:33 PM
It’s not often that all three indexes enjoy very substantial 3-digit gains, especially from the S&P for which hundred-point daily gains are almost unheard of, but that’s what happened on this the second day that Trump has signaled once again that the April 2nd tariffs may be more measured than across the board. The indexes were all straight up right out the gate and stayed that way, supported strongly by the return of losses to Nvidia and Tesla due to the new tariff optimism.
The S&P is no longer in correction territory having today recovered 4% of the 10% loss it’s had since the Feb 19th high. Business activity is up for March, which may be more consumers buying more product before the tariff inflation kicks in. More inflation data coming later this week with PCE on Friday. But this optimism is certainly overshadowed by the S&P earnings forecast for 2025 being lowered to 10.5% from 14% in early January. Volume came in below the 16.5 billion-average at 13.6 billion.
DJ: 41,985.35 +32.02 NAS: 17,784.05
+92.42 S&P: 5,667.56
+4.67 3/21
DJ: 42,583.32 +597.97 NAS: 18,188.59
+404.54 S&P: 5,767.57
+100.01 3/24
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