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Stock market today: Dow, S&P 500, Nasdaq recover as traders assess tariff developments, new jobs data
In This Article:
US stocks closed higher on Tuesday, led by Big Tech, as investors assessed China's instant retaliation to US President Donald Trump's additional tariffs and the potential risks of a trade war.
Traders also took in fresh jobs data, with job openings declining more than expected in December.
Investors are continuing to watch any signs of cooling in the labor market as the Federal Reserve debates future interest rate cuts in the face of sticky inflation.
The Dow Jones Industrial Average (^DJI) gained around 0.3%, while the benchmark S&P 500 (^GSPC) rose roughly 0.7%.
The tech-heavy Nasdaq Composite (^IXIC) jumped nearly 1.4% to recoup some of Monday's losses.
Beijing reacted swiftly on Tuesday to Trump's additional 10% levies on Chinese imports going into effect at midnight.
China slapped tariffs of 15% on US coal and liquified natural gas, starting Feb. 10, alongside 10% duties on imports of crude oil, farm equip
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