American Invest Hub
  • Politics
  • Investing
  • Business
  • Latest News

American Invest Hub

  • Politics
  • Investing
  • Business
  • Latest News
Latest News

S&P, Nasdaq climb while Dow dips amid Trump tariff concerns; Amgen, Kohl’s shares tumble

by admin November 27, 2024
November 27, 2024
S&P, Nasdaq climb while Dow dips amid Trump tariff concerns; Amgen, Kohl’s shares tumble

The S&P 500 and Nasdaq Composite rose on Tuesday, while Dow Jones slipped as investors assessed the threat of new tariffs from President-elect Donald Trump. 

The S&P 500 index rose 0.2%, while the Nasdaq Composite climbed more than 0.5%.

The Dow Jones Industrial Average slid 0.6%, dragged down by sharp losses in Amgen’s stock. 

The Dow Jones Industrial Average closed at a record high on Monday, as investors cheered the nomination of Scott Bessent as Treasury Secretary, but has struggled to maintain that level Tuesday. 

The S&P 500 index also hit a new intraday high on Monday, while the small cap-focused Russel 2000 also climbed to fresh high in today’s session. 

That advance came as Treasury yields fell with traders taking a favorable view of Bessent leading the department. 

Many investors view the hedge fund manager as a champion of financial markets and the economy given his background, and as someone who could potentially counteract some of Trump’s aggressive trade aspirations, according to a CNBC report. 

Investors will now wait for the release of the minutes from the US Federal Reserve’s last policy meeting earlier this month. 

The US stock markets will be closed on Thursday on account of Thanksgiving holiday, and is scheduled to close early on Friday.

Volumes are expected to remain low for the remainder of the week. 

Trump threatens more tariffs

Trump said in a social media post on Monday that he intended to impose a 25% tariff on all imported goods from Canada and Mexico. 

He also said an additional 10% tariff will be imposed on Chinese imports, noting that there is a lack of progress on China’s part towards curbing the flow of illegal drugs to the US. 

This is on top of an already proposed 60% tariff increase on China. 

Trump’s comments raised concerns about a fragile global economy with a full-blow trade war between the world’s biggest economies. 

Amgen Inc and Kohl’s shares plummet

Amgen Inc’s stock slipped 12% on Tuesday after the company said its experimental weight loss drug helped patients lose up to 20% body weight. 

However, the trial results were at the low end of investors’ expectations.

Meanwhile, shares of Kohl plunged nearly 20% on Tuesday after the retailer’s third-quarter earnings results missed Wall Street’s estimates. 

During the quarter, the company earned 20 cents per share on $3.31 billion in revenue, below the consensus estimates of 28 cents per share on $3.64 billion revenue, according LSEG. 

Meanwhile, comparable shares dropped 9.3% during the quarter compared with expectations of a drop of 5.1%. 

Shares of the retailer have dropped around 36% so far since the beginning of this year.

Dick’s Sporting Goods jump

Shares of Dick’s Sporting Goods jumped more than 5% before the bell on Tuesday after the retailer posted positive earnings and guidance. 

The Pennsylvania-based company earned an adjusted $2.75 per share on $3.06 billion in revenue in the third quarter.

That’s ahead of the forecasts for $2.68 a share and $3.03 billion from analysts polled by LSEG.

The company also lifted its full-year outlook.

Shares have surged more than 46% in 2024, according to CNBC. 

Consumer confidence rises

The US Conference Board’s report showed on Tuesday that consumer confidence rose in November, while expectations for the stock market hit a record high. 

The US consumer confidence index increased to 111.7, or 2.1 points higher this month compared with October, and slightly above the Dow Jones estimate of 111. 

At the same time, 56.4% of respondents said they expect stock market prices to be higher a year from now, a fresh record.

Inflation expectations also improved, with the five-year outlook down to 4.9%, the lowest since March 2020.

The post S&P, Nasdaq climb while Dow dips amid Trump tariff concerns; Amgen, Kohl’s shares tumble appeared first on Invezz

0
FacebookTwitterGoogle +Pinterest
previous post
Bitcoin options show increased caution as $100K remains elusive
next post
Stellantis to close Luton van factory in UK owing to country’s strict EV mandate

Related Posts

Germany’s economic turnaround: PMI jumps above 50, signaling...

January 26, 2025

China lifts penalties on Australian wine after more...

March 29, 2024

At least 15 killed in fire thought to...

February 25, 2024

How ISIS has Europe and the US in...

April 1, 2024

Lockstep with US? UK’s new AI strategy sparks...

February 15, 2025

The Middle East on the brink again after...

April 3, 2024

Israeli forces fired at Palestinians waiting for aid...

March 7, 2024

Iranian president-elect ready to set relations with Europe...

July 15, 2024

US reality show contestant kills and eats protected...

July 24, 2024

Interview: Psychedelics changing the course of depression; stocks...

April 9, 2025

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest News

    • FBI raid on John Bolton’s home in Washington linked to classified documents

      August 25, 2025
    • Argentine senate deals blow to Milei’s austerity agenda with university budget boost

      August 25, 2025
    • Jackson Hole Symposium: what Powell said about economic effects of Trump’s tariffs

      August 25, 2025
    • At Jackson Hole, Fed Chair Powell signals possible cuts while warning of uncertainty

      August 25, 2025
    • Trump threatens to fire Fed Governor Lisa Cook amid mortgage fraud allegations

      August 25, 2025

    Categories

    • Business (3,763)
    • Investing (2,783)
    • Latest News (2,048)
    • Politics (1,530)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: americaninvesthub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 americaninvesthub.com | All Rights Reserved