Stocks Hold Steady After Latest Trump Tariffs

Coca-Cola jumps 4.7% after strong profit report
By Newser Editors and Wire Services
Posted Feb 11, 2025 3:48 PM CST
Stocks Hold Steady After Latest Trump Tariffs
Trader Jonathan Mueller works on the floor of the New York Stock Exchange, Tuesday, Feb. 4, 2025.   (AP Photo/Richard Drew, file)

US stocks drifted to a mixed close Tuesday following President Trump's latest tariff escalation and after the Federal Reserve hinted interest rates may not change for a while.

  • The S&P 500 rose 2.06 points, or less than 0.1%, to 6,068.50 in its first trading since Trump imposed 25% tariffs on foreign steel and aluminum.
  • The Dow Jones Industrial Average rose 123.24 points, or 0.3%, to 44,593.65.
  • The Nasdaq composite fell 70.41 points, or 0.4%, to 19,643.86.
Coca-Cola jumped 4.7% after reporting stronger profit and revenue than analysts expected, the AP reports. Growth in China, Brazil, and the US helped lead the way.

Marriott International fell 5.4% even though it reported a better profit for the latest quarter than analysts expected. Investors focused instead on its forecasted range for an important underlying measure of profit this upcoming year, which fell short of what analysts were expecting. Humana sank 3.6% despite reporting a smaller loss than analysts expected. The insurer and health care company offered a forecast for profit in 2025 that fell short of expectations. DuPont climbed 6.8% after the chemical company reported better profit than Wall Street expected. The company said its results were helped by strong demand in its electronics business, which it is spinning off later this year.

Federal Reserve Chair Jerome Powell said again in testimony on Capitol Hill that the Fed is in no hurry to ease interest rates any further. "We're in a pretty good place," Powell said about where the economy and interest rates are. He said again he's aware that going too slowly on rate cuts could damage the economy, while moving too quickly could fan inflation higher. Worries about inflation potentially staying stubbornly high have forced the Fed and traders alike to cut back expectations for cuts in 2025. Some traders are even betting on the possibility of zero, in part because of worries about the effects of tariffs. (More stock market stories.)

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