Stocks rose higher Wednesday ahead of the roll out of President Donald Trump's new tariffs. The Dow Jones Industrial Average traded over 200 points higher, while the S&P 500 Index and Nasdaq Composite added about 0.7% and 0.9%, respectively.
Here's how the market settled on Wednesday:
S&P 500 Index
Dow Jones Industrial Average
Nasdaq Composite Index
The White House announced Tuesday that Trump would deliver remarks at an event called, "Make America Wealthy Again," on Wednesday at 4. p.m., where he is expected to announce a broad range of tariffs on countries that impose import duties on American goods.
Wall Street has come under pressure in recent weeks in response to Trump's trade policies, which have led to widespread market volatility.
In economic news, U.S. Private Payrolls rose at a more-than-expected rate in March, the ADP National Employment Reports showed Wednesday, as the labor market continues to hold steady ahead of economic uncertainty surrounding Trump's tariff plans.
Private payrolls increased by 155,000 positions last month, well ahead of February's upwardly revised print of 84,000 and economist expectations for 115,000 additions, according to Reuters. Beneath the headline, all industries saw upticks in employment, with the service-producing industry leading gains with 132,000 additions.
In the News:
Tesla
Longtime Tesla bull Wedbush Securities analyst Dan Ives called the company's latest report a "fork in the road moment."
"We knew 1Q Tesla deliveries would be soft but these numbers were bad," Ives wrote in a post on X. "We are not going to look at these numbers with rose colored glasses ... they were a disaster on every metric."
