Stocks rise to start the week as traders shake off latest U.S. tariff threat: Live updates – CNBC
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The 30-stock index closed at 44,470.41. The S&P 500 gained 0.67% to end at 6,066.44, and the Nasdaq Composite climbed 0.98% to 19,714.27.The market remains jittery on a mix of inflation worry coupled with concern over how Trump’s plan for tariffs could adversely affect the U.S. economy.Trump told reporters on Sunday that he is planning to announce a blanket 25% tariff on all steel and aluminum imports on Monday. Trump did not specify when the duties would be imposed and noted that he would also issue retaliatory tariffs on countries that tax U.S. imports. The news comes after Trump’s previously announced duties on China.Steel and aluminum stocks popped. U.S. Steel and Nucor were up 4.8% and 5.6%, respectively. Cleveland-Cliffs climbed nearly 18%, and Alcoa ended the day 2.2% higher.Shares of chipmakers also rose as sentiment appeared to improve after the late January sell-off in technology stocks, fueled by the concerns around the emergence of Chinese AI startup DeepSeek. Nvidia gained 2.9%, while Broadcom and Micron added 4.5% and 3.9%, respectively. Megacap tech names Alphabet, Amazon and Microsoft were also higher.”The volatility around DeepSeek and concerns over tariffs do not derail our positive outlook on risk assets, especially in the U.S. Over the short term, we expect lingering volatility on tariff headlines and potential April bill passage in the U.S., but we keep 6,500 as S&P 500 year-end target,” JPMorgan head of cross asset strategy Fabio Bassi said in a note to clients.The threat of more tariffs comes ahead of a slew of economic data this week. The January consumer price index report is due out Wednesday at 8:30 a.m. ET, followed by initial weekly jobless claims and the producer price index on Thursday. Federal Reserve Chair Jerome Powell will also speak before Congress on Tuesday morning.Correction: A previous version misstated when Powell is scheduled to speak.The Dow Jones Industrial Average ended Monday’s trading session 167.01 points higher, or 0.38%, to close at 44,470.41. The S&P 500 gained 0.67% to end at 6,066.44, and the Nasdaq Composite climbed 0.98% to close at 19,714.27.— Pia SinghThe optimistic story for tech stocks is still intact despite a bumpy start to 2025, according to UBS.Shares of Nvidia entered Monday down 3.3% year to date. The Roundhill Magnificent 7 ETF (MAGS) is little changed in 2025. However, UBS equity strategist Sundeep Gantori said in a note to clients that the artificial intelligence trade still has upside from here and that investors should be prepared to take advantage of the next pullback.”With strong near-term visibility for tech earnings, we remain bullish on the AI theme and maintain our positive view on AI semiconductors and leading cloud platforms. We recommend taking advantage of any near-term volatility to build up exposure to quality AI stocks via buy-the-dip and structured strategies,” Gantori wrote.— Jesse PoundMorgan Stanley is very bullish about the benefits retailers will see from artificial intelligence. “Retail is on the cusp of a technology-leap with AI, data and automation,” analyst Simeon Gutman wrote in a recent note to clients.He anticipates the tech investments will allow larger retailers to continue to grow bigger and at an accelerated pace. One reason is they have the deepest pockets and will be able to invest to grow, taking advantage of the trove of customer data and the benefits of advertising and automation.Gutman noted that Walmart’s capital spending plans are four times larger than the retailer with the second-biggest budget, Costco. Not only that, but Walmart’s capex is equal to nearly 60% of the top five retailers combined and 70% of the rest of the firm’s retail coverage combined.— Christina Cheddar BerkArtificial intelligence clouds are forming over parts of the market that are not just AI, according to Bank of America.Analyst Ohsung Kwon wrote in a Sunday note to clients that overall capital expenditures from companies reporting so far remain weak, while AI-related capex from hyperscalers continues to climb. Price reactions after the “Magnificent Seven” earnings reports suggest growing concerns around their monetization compared to their spending, he pointed out, particularly as the emergence of China’s DeepSeek reminds the U.S. market “of the bear case for AI semis.””Geopolitical risks in the midst of an AI arms race vs. China poses a threat to US Semis, and the spend mandate compromises the cost-cutting options that mega cap tech companies had in 2022/23. Moreover reported capex from 234 co’s so far is tracking just +3% ex. Mag. 7 and Tech in stark contrast to total capex of +23% YoY,” he wrote.More than 300 companies in the S&P 500 have reported earnings so far, and results have been better than the historical average. Reported earnings per share have come in 4% above consensus, the note said.— Pia SinghTD Cowen said it does not have enough clarity to stay in Merck’s bull camp.Analyst Steve Scala downgraded the biopharmaceutical stock to hold from buy and chopped his price target down by $21 to $100. Now, Scala expects Merck shares to jump 14.6% over the next year. The stock has dropped nearly 13% this year.”MRK is a great company and stock reflects much risk,” Scala wrote to clients. “But recommendations require viable arguments for outperformance; we don’t see this any longer in MRK,” Scala added.Scala’s call comes after an upgrade in early 2024. Reasons for Monday’s downgrade include continued uncertainty around the Gardasil vaccine and analysis suggesting the stock’s multiple will trough in 2026. The move puts Scala in the minority on Wall Street, as most analysts polled by LSEG still have buy ratings on the stock.— Alex HarringElon Musk’s so-called Department of Government Efficiency may soon turn its eyes to the Pentagon, which could create some nervousness around defense stocks.However, Citi analyst Jason Gursky said in a note to clients that investors should not overreact to negative headlines about the sector.”We expect a lot of noise and would be buyers of defense stocks on any weakness,” Gursky wrote.The sector could see a lot of push and pull during the Trump administration, as the budget-cutting effort comes alongside the president’s stated plans for an “Iron Dome for America.” Trump’s tariff negotiations could also create tension with U.S. allies that buy weapons systems from American contractors.— Jesse PoundThese are the stocks moving the most in midday trading:Read the full list of stocks moving here.— Lisa Kailai HanRockwell Automation shares rose nearly 13% on Monday, leading the S&P 500 higher and putting the stock on track to close with its largest single-day percentage increase since March 24, 2020, when it gained 17.6%.The gain comes after the company reported an earnings beat for its fiscal first quarter. Rockwell posted adjusted earnings of $1.83 per share for the period, above the $1.58 per share that analysts polled by FactSet were expecting. Revenue, meanwhile, came in line with expectations at $1.88 billion. Rockwell also said orders were up around 10% compared to the year-ago period.”While there is still some macroeconomic and policy uncertainty weighing on customers’ capex plans, Rockwell won multi-million dollar strategic orders across key industries, especially in the U.S., our home market,” said Blake Moret, the company’s CEO, in a statement.— Sean ConlonOctober’s E. coli outbreak drove sluggish McDonald’s fourth-quarter sales in the U.S. But Chief Financial Officer Ian Borden told analysts on the company’s earnings call that traffic improved as the quarter progressed, and CEO Chris Kempczinski said he expects performance will fully recover by the beginning of the second quarter in April.Lower average checks pushed down McDonald’s domestic same-store sales by 1.4% in the fourth quarter, steeper than analysts’ estimates for a 0.6% decline and the biggest drop since the 8.7% plunge during the second quarter of 2020 at the start of the Covid-19 pandemic. Excluding the pandemic, it was the largest slump in U.S. same-store sales in nearly a decade, since McDonald’s saw a 2.0% decline in the second quarter of 2015, according to FactSet data.Borden acknowledged that, “pressure on spending persists, in particular, with two significant cohorts of our consumer base — low income and families.” As price-conscious consumers have cut back on spending in recent months, fast-food chains across the industry have resorted to promotions and deals to lure in guests.Kempczinski is adamant that McDonald’s promotional activity is working. “If you look at the $5 meal deal, even though that’s compelling value, it’s driving other purchases. So the average check on $5 meal deal for us in the U.S. is north of $10,” he told analysts Monday. McDonald’s shares rose as much as 5.4% in early trading Monday and are about 3% below October’s all-time high.— Robert HumConsumer inflation expectations were little changed in January, according to a New York Federal Reserve survey released Monday that counters other recent indicators.Respondents to the monthly Survey of Consumer Expectations expect inflation a year from now to run at a 3% rate, unchanged from December. The same level prevailed on the three-year horizon, though the five-year outlook rose, also to 3% on a 0.3 percentage-point gain.However, the survey also showed sizeable gains in the one-year outlook for increases in food and gas (up 0.6 percentage points each from December to 2.6% and 4.6%, respectively) as well as medical care (up 1 percentage point to 6.8%) and rent (up 0.5 percentage points to 6%).The New York Fed report comes after a University of Michigan survey released Friday showed the one-year inflation outlook surging to 4.3%, a jump of 1 percentage point.— Jeff CoxThe KraneShares CSI China Internet ETF jumped 3% Monday after China’s retaliatory tariffs on U.S. goods, including crude oil, natural gas and agricultural machinery, took effect.This comes after President Trump imposed a 10% tariff on Chinese goods on Feb. 4.— Hakyung KimStocks kicked off the start of a new trading week in the green.The S&P 500 opened 0.5% higher, while the Nasdaq Composite traded more than 0.7% higher. The Dow Jones Industrial Average gained 261 points, or 0.6%, shortly after 9:30 a.m. ET.— Pia SinghCheck out the stocks making moves in the premarket on Monday:Read here for the full list.— Sean ConlonMcDonald’s shares were up 1% in the premarket even after the fast-food giant reported mixed fourth-quarter results.The company earned an adjusted $2.83 per share, matching an LSEG estimate. Revenue, meanwhile, came in at $6.39 billion, slightly below a consensus forecast of $6.44 billion. McDonald’s sales were hurt in U.S. restaurants following an E. coli outbreak.— Fred ImbertBenchmark told investors to expect good news from Shopify when it reports earnings on Tuesday.Analyst Mark Zgutowicz upgraded the commerce stock to buy from hold and instituted a $150 price target. With that, Zgutowicz anticipates shares will jump 27.8% over Friday’s close.”Once again, we expect comfortable upside to reported and guided [gross merchandise value] tomorrow morning … however, with more enterprise and Plus-driven upside to [monthly recurring revenue] and GMV than witnessed historically,” Zgutowicz wrote to clients in a Monday note.Shares popped 2.9% before the bell on Monday. The stock has climbed more than 10% in 2025, on pace to record its third winning year in a row.— Alex HarringBP shares were higher by more than 6% after The Wall Street Journal reported, citing people familiar with the matter, that Elliott Management has taken a stake in the British oil giant.According to the report, Elliott will push for changes to improve BP’s performance. The stock has fallen more than 11% over the past year. It is up 9.2% so far in 2025.— Fred ImbertStifel sees less room for Tesla shares to run.Analyst Stephen Gengaro cut his price target by $18 to $474, which now reflects the potential for 31.1% upside. Despite the cut, Gengaro has a buy rating on the electric vehicle maker.The call follows “mixed [fourth-quarter earnings] results, uncertainty caused by the Trump Administration, and TSLA’s low favorability ratings,” he told clients.Gengaro listed a strong outlook for energy storage and expectations for a new lower-priced vehicle in the first half of this year among the reasons to be optimistic on the company. On the other hand, he pointed to continued pricing headwinds and “stiff” competition from China as grounds for concern.Tesla shares slid 1.3% before the bell on Monday. The stock has dropped 10.5% in 2025, pulling back after soaring more than 62% in the previous year.— Alex HarringAsia-Pacific markets were mixed Monday as escalating trade tensions kept investors on edge.Japan’s benchmark Nikkei 225 ended the day flat at 38,801.17, while the broader Topix index edged down 0.15% to close at 2,733.01. The country reported loan growth of 3% year on year in January, falling slightly from December’s 3.1%.South Korea’s Kospi closed flat at 2,521.27, while the small-cap Kosdaq advanced 0.91% to 749.67.Mainland China’s CSI 300 Index changed course from losses earlier in the day to close up 0.21% at 3,901.06, while Hong Kong’s Hang Seng index had climbed 1.76% in the last hour of trade.Indian stocks extended the previous session’s losses to open lower. The benchmark Nifty 50 was down 0.91%, while the BSE Sensex index fell 0.87% at 1.30 p.m. local time.Meanwhile, Singapore’s benchmark Straits Times Index hit an all-time high of 3,910.12 points early in the trading day LSEG data showed. The STI benchmark was trading up 0.53% in the last hour of trade.Australia’s S&P/ASX 200 ended the day 0.34% lower at 8,482.80.— Amala BalakrishnerEconomic data due out this week will be top of mind for investors, including fresh inflation readings.Here’s what Wall Street will be on the lookout for this week:— Brian EvansStock futures were lower on Sunday, as the threat of fresh tariffs from President Donald Trump weighed on market sentiment ahead of a key slate of economic data due out this week.Futures tied to the Dow Jones industrial Average fell 33 points, or 0.03%. S&P 500 futures pulled back 0.1%, while Nasdaq 100 futures were 0.2% lower.— Brian EvansGot a confidential news tip? 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