President Trump said tariffs would be "more lenient than reciprocal"
Stock futures are flat Wednesday, putting Wall Street’s three-day winning streak at risk. Investors are weighing signs of economic softness -- highlighted by disappointing consumer confidence data -- against renewed hopes that President Donald Trump’s upcoming tariffs will be more lenient than initially expected, with Trump saying the planned reciprocal tariffs would likely be “more lenient than reciprocal.”
In a surprise to economists, the latest durable goods orders data showed unexpected strength, rising 0.9% in February versus forecasts for a 1.1% drop. The better-than-expected reading signals resilience in the manufacturing sector, offering some reassurance about the health of the U.S. economy ahead of Trump's April 2 tariff deadline.
Continue reading for more on today's market, including:
- Top stock pick for 2025: Bloom Energy.
- Rare double upgrade boosts undervalued tech stock.
- Plus, NVDA's China chip setback; Dollar Tree's big sale; and UPS' rally attempt.
5 Things You Need to Know Today
- The Cboe Options Exchange (CBOE) saw more than 1.3 million call contracts and 893,725 put contracts exchanged on Tuesday. The single-session equity put/call ratio rose to 0.65, while the 21-day moving average stayed at 0.60.
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Nvidia Corp (NASDAQ:NVDA) stock is 1.5% lower premarket today, after reports that Chinese regulators are discouraging domestic tech giants from purchasing the semiconductor company’s H20 chip. According to the Financial Times, the chip -- designed to comply with U.S. export sanctions -- allegedly violates China’s energy-efficiency rules, casting doubt on Nvidia’s sales outlook in the region. NVDA is down 10.1% in 2025.
- Dollar Tree Inc (NASDAQ:DLTR) stock is up 3.6% before the bell, after the discount retail chain announced it will sell its Family Dollar business to Brigade Capital Management and Macellum Capital Management for over $1 billion. The company also reported fourth-quarter adjusted earnings of $2.29 per share on $5 billion in revenue. Over the last 12 months, DLTR has shed 46.8%.
- United Parcel Service Inc (NYSE:UPS) stock is 0.2% higher in electronic trading, attempting a rebound from Monday’s 5.1% drop and lowest close since June 2020. BofA trimmed its price target to $129 from $133 and lowered its first-quarter earnings forecast to $1.31 per share, citing weak volumes and ongoing tariff concerns. UPS sports a 12.8% year-to-date deficit.
- Get ready for tons of economic data and a few notable earnings reports.
U.S. Blacklists 50 Chinese Tech Company's; U.K. "Spring Statement" in Focus
Asian markets were mostly up across the board today, led by South Korea’s Kospi, which added 1.1%. Japan’s Nikkei tacked on 0.7%, while Hong Kong’s Hang Seng gained 0.6%. China’s Shanghai Composite sat out of the gains, even as Morgan Stanley hiked its index targets for China for the second time, and the U.S. blacklisted 50 Chinese tech companies in an effort to narrow the artificial intelligence (AI) race.
In Europe, bourses are heading lower midday. All eyes are on the U.K., with investors keyed into finance minister Rachel Reeves’ “Spring Statement,” where massive spending cuts are anticipated. Monetary policy will also be in focus, especially after inflation cooled off in February. In France, consumer confidence pulled back marginally for March. At last check, London’s FTSE is 0.2% higher, while the French CAC 40 and German DAX are off by 0.7% and 0.6%, respectively.