00:00The S&P 500 ended Tuesday's choppy session, slightly lower as investors yearn for clarity
00:07on U.S. trade policy after President Donald Trump's latest tariff threats dampened hopes
00:12around talks with some trade partners. Wall Street equities had sold off sharply on Monday
00:18after Trump won of sweeping new tariffs on goods from key trading partners such as Japan
00:23and South Korea and a range of smaller countries starting in August.
00:27Tuesday's moves in U.S. indexes were less pronounced than in the previous session
00:32by the benchmark S&P 500 and the tech-heavy Nasdaq spent the session fleeting between red and green
00:38as investors looked for direction from tariff headlines.
00:42Overall, stocks today are taking the information about the tariffs in stride.
00:49Most of the activity that we saw yesterday has not continued into today, specifically the Tesla.
00:57move. And I think that investors continue to kind of take everything in stride,
01:02taking profits where it makes sense, but not really moving into anything just yet
01:08because we're still waiting to hear how the new tariffs and potential reciprocal tariffs,
01:13now that they're being extended, might impact things like semiconductors, pharmaceuticals, and the like.
01:18I think that the administration is losing some of the threat as they continue to show that they're willing to bend the rules
01:28and they're not standing hard line on these deadlines because they realize that these tariffs would be bad for the economy,
01:36not great for America.
01:38Trump appeared to broaden his global trade war with the announcement on Tuesday that he would put a 50% tariff on imported copper,
01:57while he said that long-threatened levies on semiconductors and pharmaceuticals were coming soon.
02:02The U.S. president said trade talks have been going well with the European Union and China,
02:07but added that he was only days away from sending a tariff letter to the EU.
02:12The market's cautious mood contrasted with the world volatility that was unleashed
02:15after Trump's April 2 Liberation Day tariff announcements,
02:19which pushed the Nasdaq down sharply to confirm a bear market and send the Dow and the S&P 500 into a correction.
02:25Since then, Wall Street has rebounded to regain lost ground,
02:29with the Nasdaq and the S&P 500 powering to fresh record highs last week
02:33as a solid labor market report helped ease fears of a recession.
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