FX.co ★ US Stocks Extend Gains to Fresh 2-Week Highs

U.S. stocks experienced modest gains on Tuesday, as the S&P 500 and Nasdaq both increased by 0.1% to reach new two-week highs, and the Dow advanced by 70 points. This uptick was driven by optimism that the Trump administration may ease certain proposed tariff measures. President Trump indicated that not all threatened tariffs would be implemented on April 2nd, and there could be exemptions for some countries. However, he also highlighted potential new tariffs on automobiles, pharmaceuticals, and a 25% duty on Venezuelan crude oil. On another note, Federal Reserve Governor Kugler stated that monetary policy remains restrictive but pointed out that progress towards the 2% inflation target has decelerated since last summer, citing the recent increase in goods inflation as "unhelpful." In corporate developments, Tesla’s shares decreased by 1% due to a drop in its European market share. Meanwhile, UniFirst's stock plunged over 12% after Cintas terminated discussions regarding the acquisition of the workwear provider in a deal that was valued at $275 per share. Furthermore, KB Home's stock declined by 6% following a downward adjustment of its full-year 2025 revenue forecast.