U.S. stocks give up morning gains to close mixed
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U.S. stocks gave up their early gains to close mixed on Wednesday as U.S. bond yields fell again amid confusing comments from Donald Trump about tariffs on Canada and Mexico and after more lackluster economic data. Nvidia (NVDA+3.34%) stock ended up 3.67% ahead of its earnings later today.
The S&P 500 and Nasdaq indexes were little changed and the Dow Jones Industrial average lost about 188 points. Apple (AAPL-2.85%) stock fell 2.7% and Tesla (TSLA-4.49%) closed about 4% lower at $290.80, giving up earlier gains.
The president pushed back the deadline for tariffs on the U.S.’s neighbors to April 2 from March 4. While this buoyed the Mexican peso and the loonie, it left investors uncertain and skeptical about Trump’s actual plans for duties, and may have reduced the issue’s importance for traders going forward.
Super Micro Computer (SMCI+10.67%) stock surged after the AI hardware maker filed its long-awaited financial reports, alleviating delisting concerns on the Nasdaq that had loomed since last year. Shares of AppLovin (APP-11.05%), the top-performing technology stock of 2024, plunged after an attack by two short-sellers.
Data released in the morning showed sales of new single-family homes in January 2025 were recorded at a seasonally adjusted annual rate of 657,000, missing the consensus for 680,000 and down 10.5% from December’s upwardly revised 734,000.
