Yes..Trump truly the best.
Dow Jones Jumps 1,300 Points On Trump Tariff News; Apple, Nvidia, Tesla Rally
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The Dow Jones Industrial Average and other major stock indexes rebounded Tuesday, as Wall Street continued to battle with the fallout of President Donald Trump's tariffs and China's subsequent retaliation.
Big early winners on the stock market today included Apple (AAPL), Nvidia (NVDA) and Tesla (TSLA).
The Dow Jones Industrial Average jumped nearly 1,300 points, or 3.3%, after the stock market open. The S&P 500 gained 3.4%. And the tech-heavy Nasdaq composite rallied 3.9%.
Among exchange traded funds, the Invesco QQQ Trust (QQQ) moved up 4%, while the SPDR S&P 500 ETF (SPY) climbed 3.4% after the open.
The 10-year Treasury yield ticked higher to 4.23% early Tuesday. And oil prices rose modestly, as West Texas Intermediate futures traded near $61.20 per barrel.
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Trump Tariffs: 'China Also Wants To Make A Deal'
Ahead of the market open, President Trump on Truth Social touted a "great call" with the acting president of South Korea on tariffs and other issues. In addition, Trump said that "China also wants to make a deal, badly, but they don't know how to get it started. We are waiting for their call."
Early Tuesday, U.S. Treasury Secretary Scott Bessent said on CNBC that China's escalation was a "big mistake." His comments come in response to China's early morning statement that it would "fight to the end" against Trump's tariffs and implied that more retaliatory tariffs could be coming.
On Monday, President Trump threatened an additional 50% tariff on China, posting on Truth Social.
"Therefore, if China does not withdraw its 34% increase above their already long-term trading abuses by tomorrow, April 8th, 2025, the United States will impose ADDITIONAL Tariffs on China of 50%, effective April 9th," he said.
Trump went on to say: "Additionally, all talks with China concerning their requested meetings with us will be terminated! Negotiations with other countries, which have also requested meetings, will begin taking place immediately."
IPhone maker Apple rebounded 3.7% Tuesday morning. Its shares sold off another 3.7% Monday, closing at their lowest level since May.
Tesla stock jumped 5.5% Tuesday, looking to recover from Monday's 2.6% drop. Shares of the Elon Musk-led company are around 52% off their record high of 488.54, reached on Dec. 18.
Lastly, Nvidia stock rallied 7.4% in Tuesday's morning trading, as the artificial intelligence giant looked to add to Monday's upside reversal.
Dow Jones, Major Indexes Slash Losses
Blue chips on the Dow Jones Industrial Average Monday declined 0.9%, or 349 points, while the S&P 500 fell 0.2% and the Nasdaq edged higher. All three ended well off their session lows.
Following big losses in recent sessions, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are Ollie's Bargain Outlet (OLLI), Spotify Technologies (SPOT) and TJX (TJX).
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com (AMZN), Microsoft (MSFT) and Coca-Cola (KO).
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
Dow Jones Stocks: Warren Buffett Holding Gives Up Buy Point
Dow Jones component and Warren Buffett holding Coca-Cola is trying to find support at its 50-day line after triggering a sell signal below a 73.22 buy point in a cup with handle, according to MarketSurge chart analysis. And shares rose 1% in morning action Tuesday, looking to bounce back from heavy losses.
Outside the Dow, IBD Leaderboard stock Ollie's Bargain Outlet broke out past a 115.42 buy point in a double bottom last week, but is sharply below the entry following big drops. Shares gained 2.4% Tuesday.
Music streaming giant Spotify has formed a double bottom that has a 621.20 buy point. Spotify stock moved up 5% Tuesday.
Finally, off-price retailer TJX is attempting to clear a 127.58 buy point in a double bottom but has fallen sharply in the stock market sell-off. TJX stock climbed 3.5% in early morning trading.
However, now is not a good time to buy stocks as the S&P 500 has tumbled below its 200-day moving average and the Nasdaq is in a bear market. IBD currently recommends 0% to 20% stock exposure in the current market.
Stock Market: Companies To Watch
These are four stocks in or near buy zones in Tuesday's stock market, including a Dow Jones leader.
Company NameSymbolCorrect Buy PointType Of Buy Point
Coca-Cola(KO)73.22Cup with handle
Spotify(SPOT)621.20Cup with handle
TJX(TJX)127.58Double bottom
Ollie's Bargain Outlet(OLLI)115.42Double bottom