The Dow rises 350 points when Trump signs mutual tariff plans
The Dow and other key indicators climbed Thursday as President Donald Trump signed Mutual Tariffs in the afternoon. Under this policy, if a country places tariffs on American products, the US will respond by applying equivalent duties on that country’s products. Mutual tariffs will take effect soon, and Trump said appropriate tariff levels for the affected countries will be determined.
Once that day was over, the Dow Jones industrial average added 342 points or 0.7%. The Tech Heavy Nasdaq and S&P 500 added 1.5% and 1% respectively.
Meanwhile, inflationary pressures continued, with wholesale price data higher than expected. Producer Price Index (PPI)tracking what producers receive in their products and services, up 0.4% in January. The analyst estimate is 0.3%. The core PPI, which excludes food and energy, rose 0.3% that month and collaborated with forecasts.
The labor market is resilient, with fewer Americans applying for unemployment benefits last week. The Labor Bureau said initial unemployment claims fell 7,000 to 213,000 seasonally adjusted for the week ending February 8th.
Jamie CoxThe managing partner at Harris Financial Group told Quartz in an email:
“The key point is that a strong economic foundation remains intact.”
Intel (INTC) shares extended the rally on the fourth day Thursday, surged more than 8% to trading above $24 per share. Legacy chip makers have grown by more than 20% so far this year. Compared to the approximately 1.5% decline for AI chip maker Nvidia to launch 2025,NVDA).
The stock rallies came amid speculation about increased US government support for the company and the possibility of cooperation with TSMC (TSM),, Taiwan-based chipmaking giant.
The Trump administration is looking at a five-year contract for a $400 million “armored electric vehicle” It could refer to Teslas. The State Department previously listed “Armorned Teslas” (TSLA) (Product Unit) Procurement forecast for 2025According to multiple news outlets. The line item was then modified to “Armorned Electric Vehicles.” Following the news, Tesla stocks (TSLA) I woke up in the morning.
Robinhood stock (Food) Climbed on Thursday as the trading platform provided something stronger than expected Revenue 1 day ago. The company reported a revenue growth of 115% year-on-year, surpassing analyst estimates, signaling robust user engagement despite market volatility. In contrast, the stock of social media giant Reddit (red) declined after the company ran out of shortage Revenue Hope.