Two of three United States stock indices closed higher on Tuesday (Wednesday AEDT), as investors anticipated Wednesday's tariff announcement from the White House. However, markets remained volatile, pressured by weaker-than-expected economic data.
The Dow Jones Industrial Average dipped 11.80 points, or 0.03%, to settle at 41,990.0. Meanwhile, the S&P 500 climbed 0.4% to 5,633.1, and the Nasdaq Composite advanced 0.9% to end at 17,449.9.
Markets remain on edge ahead of Wednesday’s anticipated announcement from the White House, which is expected to introduce reciprocal tariffs on imports from nearly all countries.
White House aides have reportedly drafted a proposal to impose 20% tariffs on most imports into the U.S. on the eve of Donald Trump’s “Liberation Day”.
On the data front, the Institute for Supply Management’s manufacturing purchasing managers index (PMI) fell into contraction, coming in at 49 versus 49.5 expected.
Additionally, the latest job openings and labour turnover survey (JOLTS) report from the Bureau of Labor Statistics came in at 7.568 million, slightly below expectations of 7.63 million.
In bond markets, yields edged lower, with the 10-year Treasury note down 1% at 4.163%, while the 2-year yield fell 0.3% to 3.877%.
