FX.co ★ US Stocks Rebound

On Thursday, US equities recovered from initial declines, with the S&P 500 and Nasdaq each advancing approximately 0.3%, while the Dow Jones grew by 60 points. Nonetheless, ongoing concerns about tariffs and the economic outlook tempered potential further gains. The consumer discretionary sector led the market, with significant contributions from industry giants Tesla, which surged 5.5%, and Amazon, which rose 0.8%. In contrast, General Motors experienced a significant drop of over 7%, following the Trump administration's declaration of a 25% tariff on all vehicles not manufactured in the United States, scheduled to be implemented on April 2. Furthermore, President Trump cautioned about the possibility of imposing significantly higher tariffs on the European Union and Canada, should they coordinate efforts to counteract US trade policies. Traders also assessed the latest economic reports: Fourth-quarter GDP growth saw a minor upward revision to 2.4% from 2.3%, while core Personal Consumption Expenditures (PCE) prices increased slightly less than initially estimated, at 2.6% compared to the previous 2.7%. Initial jobless claims aligned closely with expectations and established trends, although the goods trade deficit exceeded predictions.