Trade war tailwinds were blowing for stocks today, with the Dow and Nasdaq both adding triple digits, the tech-heavy latter making a run at 18,000. Although nothing was signed between the U.K. and the U.S., news of the agreed-upon 10% baseline tariff encouraged investors, with President Trump taking to Truth Social to post: "THIS IS A GREAT TIME TO BUY!!!" Amid the renewed optimism, Wall Street's "fear gauge," the Cboe Volatility Index (VIX), closed at its lowest level since April 2.
Continue reading for more on today's market, including:
- Traders should know these tax rules.
- 2024 starlet back on the move higher.
- Plus, quantum stocks pop; UAA earnings preview; and SHOP feels tariff overhang.
5 Things to Know Today
- Mortgage rates for April are moving lower. (MarketWatch)
- Cardinal Robert Prevost is the first American elected Pope. (Reuters)
- Quantum computing stocks are taking off, again.
- Under Armor earnings: what you need to know.
- E-commerce stock battling a bleak tariff forecast.
Oil Bubbles Up, Gold Cools Off
Black gold gained today, boosted by the trade war developments. June-dated West Texas Intermediate (WTI) oil added $1.72, or 2.8%, to settle at $59.91 per barrel.
Safe-haven asset gold took a breather today. June-dated gold shed 2.5% to close near $3,306 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
