Wall Street Waver at Week Start, Tariffs & Earnings in Focus
US stock indexes moved mixed on Monday (February 23), tending to hold onto gains from the previous session after the US Supreme Court overturned country-specific tariffs imposed by President Donald Trump's administration. The S&P 500 and Dow Jones Industrial Average were slightly above flat, while the Nasdaq was slightly below, reflecting a market still weighing the impact of the latest tariff policy.
The market was briefly boosted by hopes that US trade flows would improve following the court ruling. However, sentiment remains cautious as Trump responded by raising tariffs for all countries to 15% through Section 122. While maintaining a trade outlook that remains "on track" near the existing agreement level, market participants believe these tariffs are unlikely to last through the fourth quarter as the chances of Congressional approval are considered slim.
On the stock front, Eli Lilly jumped about 3% after its Novo Nordisk weight-loss pill version was reported to be underperforming Lilly's comparable product. Gilead Sciences also gained slightly after agreeing to acquire Arcellx for US$7.8 billion, adding to corporate activity that buoyed sentiment.
In the technology sector, Nvidia rose about 1.6% ahead of this week's earnings release, even as several other tech giants weakened. Microsoft, AMD, and Amazon fell more than 1%, holding back the Nasdaq and making the tech index appear more volatile than the broad-based index. (yds)
Source: newsmaker.id
