The moves were stronger in the bond market, where Treasury yields rose after a report forced Wall Street to scale back hopes that the Federal Reserve may soon deliver relief by cutting interest rates. The report suggested growth in U.S. business activity is accelerating and hit its fastest rate so far this year. That's good news for the economy, but the preliminary data from S&P Global also said tariffs helped push up average selling prices at the fastest rate in three years. That's a discouraging sign for inflation.
President Trump is taking recent stock-market highs as a sign investors approve of his threats to slap tariffs on trading partners—and so far, the markets are proving him right.
Despite the ongoing uncertainties in the market, including geopolitical tensions and tariffs, U.S. equities are bouncing back, showing signs of resilience under current conditions.
Intel's warning of 'elevated uncertainty across the industry' impacted its stock, decreasing 6.8% after it provided a disappointing profit forecast despite beating early year earnings expectations.