On April 9, U.S. stock markets experienced a slight uptick, driven primarily by gains in the tech sector amidst ongoing trade tensions sparked by President Donald Trump’s recent tariff policies. By 9:52 AM, the Dow Jones Industrial Average had climbed 94.72 points, or 0.25%, reaching 37,740.31. The S&P 500 saw an increase of 31.96 points, or 0.64%, bringing it to 5,014.73, while the Nasdaq Composite jumped 222.93 points, or 1.46%, to settle at 15,490.84.
Market Movements at Opening Bell
Initially, the markets reacted negatively at the opening bell, with the Dow Jones dropping 257.7 points (or 0.68%) to 37,387.91. The S&P 500 also saw a decline of 17.5 points (or 0.35%) to 4,965.28. In contrast, the Nasdaq Composite recorded a modest rise of 27.5 points (or 0.18%) to 15,295.44.
Bond Market Insights
In the bond market, the yield on the 10-year Treasury rose to 4.36%, up from 4.26% at the close on Tuesday. Earlier in the session, it had peaked at 4.50%. This upward trend in yields indicates growing investor concerns regarding inflation and economic stability.
Tariffs Impacting Global Trade
In a retaliatory move against President Trump’s tariffs, China’s finance ministry announced a hefty 84% tariff on all American goods, effective from April 10. This was a significant increase from the previously set 34% tariff. Investors are wary that this escalating trade war could further fuel inflation and negatively impact global economic growth.
Key Performers in the Stock Market
Among major corporations, tech giants like Apple and Nvidia saw their stocks rise nearly 2.5% each, while Microsoft gained 1.2%. Conversely, healthcare stocks faced downturns, with Eli Lilly dropping 3.7% and AbbVie sliding 4.1%. Notably, Delta Air Lines saw a remarkable 7.1% increase after revising its financial projections for 2025. Energy sector stocks struggled as crude oil prices hit a four-year low, with Exxon Mobil and Chevron each losing over 1.5%.
Gold and Oil Market Reactions
In commodities, gold prices surged by over 2% as the U.S. dollar weakened, attracting safe-haven investments amid the rising trade tensions. Spot gold rose 2.2% to $3,048.19 per ounce, while U.S. gold futures climbed 2.5% to $3,065.40. Meanwhile, silver increased by 1.4% to $30.26 per ounce, while platinum and palladium saw slight declines.
On the energy front, oil prices plummeted due to fears that the trade war could dampen demand. U.S. crude fell 3.83% to $57.30 a barrel, and Brent crude dropped 3.68% to $60.51 per barrel.
The evolving economic landscape is undoubtedly a topic of concern for investors and traders alike as they navigate these turbulent waters.
