Stocks Soar Despite Tariff Uncertainty!

2025-06-03 18:00:46.867

U.S. stocks experienced significant gains on Tuesday, with the S&P 500 rising 0.6% and nearing its all-time high. The Dow Jones Industrial Average increased by 170 points (0.4%), while the Nasdaq composite saw a 1% rise. Dollar General led the gains, jumping 14.3% after exceeding profit and revenue expectations. However, the company cautioned about uncertainties due to tariffs. Many companies have revised their financial forecasts downward due to tariff-related uncertainty. The OECD projected a 1.6% growth for the U.S. economy in 2023, down from 2.8% in 2022. Despite tariff-related pessimism, the impact on the economy has been moderate so far, with a solid job market and relatively low inflation. A report showed a surge in job openings in April, suggesting a healthy labor market. Hopes remain high for trade deals that could lower tariffs, particularly with China, although a Chinese spokesperson denied knowledge of a planned meeting between Presidents Trump and Xi. Constellation Energy rose 0.7% following a deal with Meta Platforms. Treasury yields remained relatively steady, with the 10-year Treasury yield at 4.47%. Global stock markets showed mixed results, with Hong Kong's Hang Seng index rising 1.5% despite slowing Chinese manufacturing activity. South Korean markets were closed due to a snap presidential election.