Stock market today: Dow, S&P 500, Nasdaq wobble after tech rout as new Trump tariffs take effect
Stock market today: Dow, S&P 500, Nasdaq wobble after tech rout as new Trump tariffs take effect.
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US stocks eyed a tentative recovery at the opening bell on Friday as investors assessed a new set of global tariffs against a backdrop of AI jitters, rising oil prices, and elevated bond yields.
The Dow Jones Industrial Average ( ^DJI ) rose 0.1%, while the S&P 500 ( ^GSPC ) held near the flat line. The tech-heavy Nasdaq Composite ( ^IXIC ) gave up 0.1% as Wall Street stocks attempted to stabilize after a sharp sell-off on Thursday, led by megacap tech names.
The major indexes were on track for weekly losses after the "Magnificent Seven" stocks collectively shed nearly $800 billion in market value on Thursday amid a sell-off sparked by Alphabet's ( GOOG , GOOGL ) and Tesla's ( TSLA ) ballooning AI spending. Shares in semiconductor giant Intel ( INTC ) rose in the first minutes of trading after the company blew past Wall Street's expectations after the bell on Thursday.
Overnight, President Trump's latest set of global tariffs targeting nearly all US imports went into effect . The new Section 301 tariffs, which the administration hopes will better withstand legal scrutiny, levy rates of 10% to 12.5% on the US's top trading partners.
The White House exempted some energy products from those tariffs as markets contend with higher oil prices that threaten to derail progress on inflation and ripple throughout the economy.
Oil prices fell on Friday, with Brent crude ( BZ=F ) futures down 2.8% to trade below $98 per barrel. But the international benchmark was set for a weekly gain after touching $100 per barrel.
The economic data to watch will be S&P Global's flash purchasing managers index updates on services and manufacturing in July, and new home sales.
On the corporate front, Verizon Communications ( VZ ) and American Express ( AXP ) reported earnings beats, but shares fell as both companies missed estimates on revenue. NextEra Energy ( NEE ) also beat on earnings per share while missing on revenue, but the stock is trading up.
Sinergia Empresarial continuará el seguimiento de esta información sobre stock market today: Dow, S&P 500, Nasdaq wobble after tech rout as new Trump tariffs take effect y ampliará la cobertura conforme se confirmen nuevos elementos relevantes para el ecosistema empresarial.
