SymbolPriceChange%ChangeI:DJI$40,227.59114.090.28SP500$5,528.753.540.06I:COMP$17,366.13-16.81-0.10
Stocks rose on Tuesday as investors eyed trade developments and corporate earnings.
The Dow Jones Industrial Average climbed 300.03 points, or 0.75%, while S&P 500 and Nasdaq Composite rose 0.58% and 0.55%, respectively.
Stocks hit session highs after Commerce Secretary Howard Lutnick said he reached a trade deal with an unnamed country.
“I have a deal done, done, done, done. But I need to wait for their prime minister and their parliament to give its approval, which I expect shortly,” Lutnick said in a CNBC interview.
Amazon on Tuesday denied a report that the e-commerce giant would soon display how much President Donald Trump’s tariffs will add to the cost of each item for sale on its site after the White House called the reported move a “hostile and political act.”
“The team that runs our ultra low cost Amazon Haul store considered the idea of listing import charges on certain products,” an Amazon spokesperson told FOX Business in a statement. “This was never approved and is not going to happen.”
When asked whether Amazon founder Jeff Bezos, the world’s second-richest man behind Elon Musk, was still a supporter of Trump, White House press secretary Karoline Leavitt sidestepped the question.
“I will not speak to the president’s relationship with Jeff Bezos but I will tell you that this is certainly a hostile and political action by Amazon,” she said.
Sources familiar with the matter confirmed to Fox News that Trump called Bezos on Tuesday morning to complain about the company’s plans to display the impact of tariffs on product prices on its website.
China waived a 125% tariff on ethane imports from the U.S. on Tuesday, according to a report from Reuters.
China had initially imposed the tariff earlier this month as part of its retaliation against President Donald Trump’s Liberation Day tariff campaign. China is responsible for purchasing roughly half of America’s ethane exports each year, according to the U.S. Energy Information Administration.
Chinese companies that rely on U.S. ethane include Satellite Chemical, SP Chemicals, Sinopec, Sanjiang Fine Chemical and Wanhua Chemical Group, while the key U.S. exporters are Enterprise Products Partners and Energy Transfer.
Ethane joins a growing list of products that China has granted tariff exemptions for amid the ongoing trade war with Washington.
This is an excerpt of an article by FOX Business’ Anders Hagstrom
Treasury Secretary Scott Bessent said the U.S. is “very close” to making trade deals with India and other major Asian trade partners on Monday, a development that could reassure markets wobbling amid tariff contests.
“Vice President Vance was in India last week. I think that he and [Prime Minister] Modi made some very good progress, so I could see some announcements on India. I could see the contours of a deal with the Republic of Korea coming together, and then we’ve had substantial talks with the Japanese,” Bessent said.
“I think that we are very close on India,” he said.
Bessent went on to say that the trade deals will narrow the “aperture of uncertainty” for markets that have been unpredictable since Trump’s Liberation Day tariff announcement.
Nevertheless, he added that certainty “isn’t necessarily a good thing during a negotiation.”
This is an excerpt from a story by FOX Business’ Anders Hagstrom
SymbolPriceChange%ChangeAMZN$187.70-1.29-0.68
White House press secretary Karoline Leavitt slammed Amazon on Tuesday over a report that said the e-commerce giant is planning to display tariff costs for consumers on its website.
“This is a hostile and political act by Amazon,” Leavitt said during a White House press briefing. “Why didn’t Amazon do this when the Biden administration hiked inflation to the highest level in 40 years?”
She added that “this is another reason why Americans should buy American.”
Amazon shares slipped more than 1.5% after Leavitt’s comments.
SymbolPriceChange%ChangeIBM$236.163.751.61NVDA$108.73-2.28-2.05AAPL$210.140.860.41
President Donald Trump is marking the first 100 days of his second term, highlighting some of the investments companies will make within the United States.
Trump promised in December to cut red tape for any company willing to invest $1 billion or more in the U.S.
Tech companies are among those planning to invest billions in the country over several years.
IBM announced on Monday that it will invest $150 billion in the U.S. over the next five years.
“We are extremely focused on leveraging American ingenuity and American innovation,” IBM CEO Arvind Krishna said Monday during an exclusive interview on “The Claman Countdown.”
Nvidia announced on April 14 that it will spend $500 billion on infrastructure, including a manufacturing facility that will build AI supercomputers in the U.S. for the first time.
Apple In February , announced that it would spend more than $500 billion in the U.S. over the next four years.
Canadian Prime Minister Mark Carney’s victory in the country’s election on Monday saw the Liberals retain power, though the party ultimately fell short of a majority government needed to negotiate tariffs with President Donald Trump.
Carney stated during a victory speech in Ottawa early Tuesday that “Trump is trying to break us so America can own us” and vowed that this “will never ever happen.”
“Our old relationship with the United States, a relationship based on steadily increasing integration, is over,” Carney said. “The system of open global trade anchored by the United States, a system that Canada has relied on since the Second World War, a system that, while not perfect, has helped deliver prosperity for our country for decades, is over.”
“These are tragedies, but it’s also our new reality,” Carney continued, adding that the challenges of the coming months would require sacrifice from Canadian citizens.
Reuters contributed to this report.
President Donald Trump will host CEOs from companies including Nvidia, Johnson & Johnson, Eli Lilly, GE Aerospace and SoftBank on Wednesday at an “Invest in America” event, according to reports.
The event at the White House will highlight the companies’ investments in America they’ve announced during the first 100 days of the Trump administration, Bloomberg first reported.
SymbolPriceChange%ChangeNVDA$108.72-0.01-0.01JNJ$156.651.290.83LLY$890.6513.361.52GE$200.48-0.38-0.19SFTBY$25.360.100.38
Corporate leaders from across industries ranging from defense, tech, healthcare and consumer products, and investment funds have been invited to attend the event, the report said.
White House press secretary Karoline Leavitt told Axios in an emailed statement Monday evening that Trump has secured more investments in the U.S. in 100 days than former President Joe Biden did during his entire four-year term.
“President Trump is America’s businessman in chief and that’s why more than $5.3 trillion dollars have flooded our country bringing new jobs and investments to middle-class communities from coast to coast,” Leavitt said.
General Motors said the company is pulling its profit guidance for 2025 due to the potential impact of President Donald Trump’s tariffs, the Wall Street Journal reported.
The company said the earlier profit guidance for 2025 “can’t be relied upon” as Trump’s auto tariffs have introduced a new level of uncertainty.
“Given the evolving nature of the situation, we believe the future impact of tariffs could be significant,” GM Chief Financial Officer Paul Jacobson told reporters on a call Monday evening, per the outlet.
Jacobson said the company will provide updates when GM executives have a better understanding of the market outlook under Trump’s tariffs.
Trump is expected to announce a move to soften tariffs on auto makers Tuesday in Michigan following the American auto industry’s good faith efforts to move manufacturing back to the U.S.
Ford Motor Company is welcoming President Donald Trump’s announcement that he will ease tariffs on auto makers.
Trump is expected to announce the move Tuesday in Michigan following the American auto industry’s good faith efforts to move manufacturing back to the U.S.
“Ford welcomes and appreciates these decisions by President Trump, which will help mitigate the impact of tariffs on automakers, suppliers and consumers,” a Ford spokesperson told Fox Business in a statement.
The company spokesperson said Ford will continue to work closely with the Trump administration “in support of the president’s vision for a healthy and growing auto industry in America.”
The statement called the president’s policies “essential” for encouraging exports and ensuring affordable supply chains to promote domestic growth. It also said that other major auto makers must match Ford’s commitment to build vehicles in America.
“If every company that sells vehicles in the U.S. matched Ford’s American manufacturing ratio, 4 million more vehicles would be assembled in America each year,” the statement said. “The U.S. would see a windfall of new assembly and supplier factories and hundreds of thousands of new jobs.”
Fox Business’ Philip Bodinet contributed to this report.
Chinese airlines and Boeing have been severely impacted by tariffs imposed by the Trump administration, China’s commerce ministry said Tuesday.
The ministry said it hopes the U.S. government will listen to companies’ concerns and establish a stable trade environment.
“China’s affected airlines and Boeing have suffered greatly,” the ministry said, noting that U.S. tariffs had disrupted global supply chains, air transport and investment activities.
This comes after Boeing flew three 737 MAX planes that had been stationed in China for delivery to Chinese customers back to the U.S. The American planemaker said last week that several of its customers in China had suggested they would not accept new planes due to the tariffs and that it was looking to resell potentially dozens of aircraft.
Reuters contributed to this report.
The German based sports car manufacturer Porsche AG has announced margins are expected to plunge in the first quarter.
The company says it is forced to cut its 2025 outlook due to rising supply chain costs and U.S. tariffs.
Jochen Breckner, Porsche’s finance chief, says the tariffs resulted in a loss of more than $114 million.
Porsche dealerships across the U.S. have gone weeks without new shipments as the impact of 25% auto imports are implemented.
Dealerships claim they are holding vehicles at U.S. ports to avoid grappling with the tariffs imposed by the Trump administration in April.
Reuters contributed to this report.
General Motors CEO Mary Barra thanked President Donald Trump for his expected easing of tariffs on automakers.
“We’re grateful to President Trump for his support of the U.S. automotive industry and the millions of Americans who depend on us. We believe the President’s leadership is helping level the playing field for companies like GM and allowing us to invest even more in the U.S. economy. We appreciate the productive conversations with the President and his Administration and look forward to continuing to work together” she wrote late Monday.
President Donald Trump will announce Tuesday, during a trip to Michigan, a move to reduce the impact of the tariffs on auto makers, FOX Business’ Edward Lawrence has learned.
The move is to reward the industry for its good faith efforts to move manufacturing back to the U.S. and the President wants to give them a “runway” with their business.
“President Trump is building an important partnership with both the domestic automakers and our great American workers. This deal is a major victory for the President’s trade policy by rewarding companies who manufacture domestically, while providing runway to manufacturers who have expressed their commitment to invest in America and expand their domestic manufacturing.” – Commerce Secretary Howard Lutnick said.
