
Dow, S&P 500, Nasdaq recover as China hits back on tariffs, traders assess new jobs data
Table Of Content
- Robinhood forced to walk back its initial foray into sports betting
- Fox says it will develop and launch its own streaming service
- Trump’s 2.0 trade war is already ‘fundamentally different’ from 1.0
- Vaccine stocks fall after RFK Jr. nomination advances to Senate
- Sector check: Tech leads stocks higher
- Palantir stock soars after strong earnings
- Oil pares losses despite China trade tensions
- Job openings fall more than expected in December
- Stocks open mixed
- Google shares shrug off China move ahead of earnings
- Spotify stock jumps after company turns first full year of profit
- Europe stocks mark time with eyes on Trump
- Not feeling these PepsiCo numbers
- Good morning. Here’s what’s happening today.
- Palantir rips pre-market
- China investigates American companies including Google over monopoly measures
- Gold hovers near record high on tariff concerns
US stocks moved higher on Tuesday as investors assessed China’s instant retaliation to US President Donald Trump’s additional tariffs amid worries about the risk of a trade war.
Traders also took in fresh jobs data, with job openings declining more than expected in December. Investors are continuing to watch any signs of cooling in the labor market as the Federal Reserve debates future interest rate cuts in the face of sticky inflation.
The Dow Jones Industrial Average (^DJI) gained around 0.4%, while the benchmark S&P 500 (^GSPC) rose roughly 0.8%. The tech-heavy Nasdaq Composite (^IXIC) jumped about 1.3% on the heels of a losing day for stocks.
Beijing reacted swiftly on Tuesday to Trump’s additional 10% levies on Chinese imports going into effect at midnight. China slapped tariffs of 15% on US coal and liquified natural gas, starting Feb. 10, alongside 10% duties on imports of crude oil, farm equipment, and some autos.
The tit-for-tat measures raise the risk of an escalation into trade war that would damage both of the world’s top two economies. But some on Wall Street see the Chinese response as showing restraint that opens the door to compromise, as seen in the US tariff postponement deals with Mexico and Canada.
Giving more cause for optimism, Trump brought forward talks with China’s President Xi Jinping. He said on Monday they would take place “probably over the next 24 hours,” rather than later in the week.
The US dollar index (DX-Y.NYB) fell, down about 0.9% as worries eased somewhat.
Meanwhile, China opened an antitrust investigation into Alphabet’s (GOOG, GOOGL) Google and added Calvin Klein owner PVH (PVH) and biotech company Illumina (ILMN) to its “unreliable entities list.”
Alphabet shares were up about 2% in midday trading, as investors wait for the tech megacap’s fourth quarter results due after the bell. The focus is on insights into the tech giant’s efforts to turn its massive AI investments into new revenue streams and its response to Chinese startup DeepSeek’s cheaper AI models.
LIVE 17 updates
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Good morning. Here’s what’s happening today.
Economic data: Job openings (December); factory orders (December); durable and capital goods orders (December final)
Earnings: Alphabet (GOOGL,GOOG), AMD (AMD), Amgen (AMGN), Apollo (APO), Chipotle (CMG), Electronic Arts (EA), Enphase (ENPH), Estée Lauder (EL), Ferrari (RACE), Juniper Networks (JNPR), Merck (MRK), PayPal (PYPL), PepsiCo (PEP), Pfizer (PFE), Snap (SNAP), Spotify (SPOT)
Here are some of the biggest stories you may have missed overnight and early this morning:
China hits back with tariffs on US goods after Trump imposes new levies
‘There is no forecast’: Wall Street still doesn’t know what to make of Trump’s tariff plans
Palantir stock soars after outlook beat citing ‘untamed’ AI demand
Trump’s 10% tariffs on China could hit Big Tech hard
Google hit with antitrust probe by China
Fed’s Goolsbee: Trump policies could slow rate cuts
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