?? Stocks tank globally as tit-for-tat tariffs begin
The articles and information in this newsletter are a summary of yesterday’s trading and related news. They are presented for informational purposes only. Nothing in the newsletter should be taken as investment or trading advice.
S&P 500 5,849.72 -104.78 (-1.76%)
Dow Jones 43,191.24 -649.67 (-1.48%)
NASDAQ 18,350.19 -497.09 (-2.64%)
Market close: March 3, 2025
Breaking News
Stocks tank globally as tit-for-tat tariffs begin:
?? “Tariffs” may be the most beautiful word in the dictionary for U.S. President Donald Trump, but it is one that stokes fear in investors. Risk-on assets such as stocks and cryptocurrency sank Monday after Trump refused to pardon Canada and Mexico from a hefty 25% duty on all goods imported from both countries. CNBC reports.
Image source: Adobe Stock
EdgeUp
? Tesla’s China-made EV sales drop 29% in early 2025: Tesla's sales of its China-made electric vehicles fell 28.7% in the first two months of 2025 from a year earlier, data showed on Tuesday, as the U.S. automaker faces pressure from Chinese rivals in a relentless smart EV price war. Yahoo Finance reports.
?? Treasury Yields slip as markets react to new tariffs: The 10-year Treasury yield ticked lower on Tuesday as U.S. President Donald Trump’s tariffs on Canada, Mexico and China went into effect. The benchmark 10-year Treasury yield slipped around 1 basis point to 4.168%, while the 2-year Treasury yield slid over 3 basis points to 3.945% at around 2:54 a.m. ET. CNBC reports.
??? Target reports strong Q4 earnings but flags tariff risks: Target posted solid fourth-quarter profits and sales, signaling resilient consumer demand. However, the retailer cautioned that new tariffs could pressure margins and impact pricing strategies moving forward. Yahoo Finance reports.
??? Foxconn’s AI server plant on track despite tariff headwinds: Foxconn’s planned mega-AI server plant near Guadalajara, Mexico, will complete construction in a year despite the threat of new tariffs from President Donald Trump. Yahoo Finance reports.
?? TSMC announces $100B U.S. investment to expand domestic chipmaking: Taiwan Semiconductor Manufacturing, the world’s top producer of AI chips, plans to invest an additional $100 billion in US plants that will boost its chip output on American soil and support President Donald Trump’s goal of increasing domestic manufacturing. Yahoo Finance reports.
?? Nvidia, Broadcom test Intel’s advanced chip manufacturing process: Chip designers Nvidia and Broadcom are running manufacturing tests with Intel, demonstrating early confidence in the struggling company's advanced production techniques. Reuters reports.
What’s Moving The Markets
with Richie Naso, a Wall Street veteran of over 40 years and former member of the NYSE.
Is Friday's turnaround the start of a near-term rally
During the week of February 24 to February 28, 2025, U.S. stock markets experienced mixed performance amid various economic and geopolitical developments.
Major Indices Performance:
- S&P 500: The index decreased by 1% over the week, closing at 5,954.50 on Friday.
- Dow Jones Industrial Average: Contrarily, the Dow rose by 1% during the week, ending at 43,840.91.
- Nasdaq Composite: The tech-heavy Nasdaq saw a decline of 3.5% for the week, closing at 18,847.28.
Key Factors Influencing the Market:
- Inflation and Consumer Spending: Reports indicated a slight deceleration in inflation and a reduction in consumer spending, leading to a decrease in Treasury yields and influencing investor sentiment.
- Geopolitical Tensions: A heated exchange between President Donald Trump and Ukrainian President Volodymyr Zelensky raised concerns about potential geopolitical instability. However, markets quickly recovered as investors speculated that the comments were more rhetorical than indicative of imminent conflict.
- Corporate Earnings: Companies like Nvidia rebounded from earlier losses, contributing positively to the market. Join a Live Session with Richie
Top 5 Movers In Early Pre-Market
(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM ET) Benzinga reports.
1) $UOKA: MDJM
Total gain: +55.73%
2) $PTIX: Protagenic Therapeutics
Total gain: +48.75%
3) $BTOG: Bit Origin
Total gain: +30.09%
4) $GCL: GCL Global Holdings
Total gain: +28.21%
5) $CDP: COPT Defense Properties
Total gain: +23.6%
Today’s Economic Dates
Time (ET)Report2:20 pmNew York Fed President Williams speaksTBARichmond Fed President Barkin speaks
Watch & Learn
Yesterday’s Biggest Movers
The closing price of the top three market percent gainers trading near or above $3 on March 3.(All pricing and percent gains are based on regular market trading hours from 9:30 AM to 4:00 PM ET)
1) $ACON: Aclarion
Total gain: +120%
The stock appeared to be moving on no notable news.
2) $BTAI: BioXcel Therapeutics
Total gain: +71.76%
The company announced that the U.S. Food and Drug Administration has concluded that the inspection of a single site in its TRANQUILITY II Phase 3 trial is closed under 21 C.F.R.20.64(d)(3) and released the Establishment Inspection Report. Benzinga reports.
3) $OCFT: OneConnect Financial Technology
Total gain: +22.91%
The stock appeared to be moving on no notable news.
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Today’s Notable Earnings
(Estimate and Actual numbers represent Earnings Per Share in US Dollars)
BOX Box 4Q 2025After Market Close Estimate: 0.410 Actual: N/A
JWN Nordstrom 4Q 2024After Market Close Estimate: 0.900 Actual: N/A
CRCT Cricut 4Q 2024After Market Close Estimate: 0.040 Actual: N/A
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Parting Thoughts
“Markets tend to return to the mean over time”.- Bob Farrell
Sourced in: “Market Rules to Remember”, by Bob Farrell, published in 1998.
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