The S&P 500 is at the lows of the day, down 22 points to 5756.
It was a wild ride in the futures market starting after the close yesterday when Lutnick said that some tariffs will be coming off. That’s been followed by a soft ADP employment number and some mixed messages on what will happen to tariffs. The market has also been digesting Trump’s speech his talk about repealing the CHIPS Act. That’s seen shares of Intel fall 3.8%.
The big uncertainty though is tariffs and it won’t go away any time soon. The Canada and Mexico tariffs look like they will get some kind of a reprieve but Lutnick repeatedly highlighted reciprocal tariffs coming on April 2.
The level in spoos to watch for today is 5744, which was yesterday’s low and is about 20 points away.
This article was written by Adam Button at www.forexlive.com.
