Stock market today: S&P 500, Dow, Nasdaq slip while GM, Ford hit as investors weigh Trump's tariff escalation
Trump has pushed ahead with hefty auto tariffs, stoking fears over a full-on trade war.
Oxford Industries’s (NYSE:OXM) Q4: Beats On Revenue But Stock Drops
Fashion conglomerate Oxford Industries (NYSE:OXM) reported revenue ahead of Wall Street’s expectations in Q4 CY2024, but sales fell by 3.4% year on year to $390.5 million. On the other hand, next quarter’s revenue guidance of $385 million was less impressive, coming in 4.9% below analysts’ estimates. Its non-GAAP profit of $1.37 per share was 8.1% above analysts’ consensus estimates.
Why Steelcase (SCS) Stock Is Trading Up Today
Shares of office furniture manufacturer Steelcase (NYSE:SCS) jumped 13% in the pre-market session after the company reported an impressive fourth quarter 2024 results which blew past analysts' EPS expectations, while sales were in line.
Advance Auto Parts (AAP) Stock Trades Up, Here Is Why
Shares of auto parts and accessories retailer Advance Auto Parts (NYSE:AAP) jumped 8.6% in the afternoon session after shares of auto parts companies rose as the 25% tariffs announced by President Trump on all vehicles imported into the US suggested new vehicles might be more expensive. Anticipating higher prices, markets were betting that consumers would delay purchasing new vehicles and instead hold on to their current ones longer. This shift in behavior is expected to boost demand for car ren
GameStop slumps as its plan to sell debt to fund bitcoin purchases raises some questions
GameStop shares sunk Thursday after its plan to sell debt in an effort to fund purchases of bitcoin raised some questions on Wall Street. It will use proceeds from this debt offering to buy the cryptocurrency. Trading in GameStop's stock, which is often included with other so-called “meme” stocks, can be volatile.
Trump's Latest Round Of Tariffs Set to Make Cars More Expensive, Stoke Inflation
President Donald Trump's latest round of tariffs will likely push up the price of cars and could keep inflation pressures high at least through this year.
Oil Edges Up as US Stockpile Decline Overshadows Wider Trade War
(Bloomberg) -- Oil edged higher as signs of tighter near-term supply-and-demand balances overshadowed an intensifying global trade war that threatens to crimp global energy consumption. Most Read from BloombergWhy Did the Government Declare War on My Adorable Tiny Truck?How SUVs Are Making Traffic WorseGold-Rush Fever Returns to Historic New Zealand Mining TownTrump Slashed International Aid. Geneva Is Feeling the Impact.These US Bridges Face High Risk of Catastrophic Ship StrikesWest Texas Inte
U.S. Natural Gas Futures Gain as April Contract Expires
U.S. natural gas futures shook off a bearish storage report and settled higher as the market looked to demand for gas to refill inventories over the summer. The Nymex April contract went off the board at $3.95/mmBtu, up 2.3%, and gas for May delivery settled up 1.4% at $3.925.
Why TD SYNNEX (SNX) Stock Is Falling Today
Shares of IT distribution giant TD SYNNEX (NYSE:SNX) fell 18.1% in the morning session after the company reported weak first-quarter 2025 results with sales, operating profits, and earnings all falling short of Wall Street's expectations. Its revenue guidance for next quarter missed significantly, and its EPS guidance for next quarter fell short of Wall Street's estimates.
Why Ford (F) Stock Is Down Today
Shares of automotive manufacturer Ford (NYSE:F) fell 5.3% in the pre-market session after President Trump announced 25% tariffs on all cars imported into the United States. Stocks of automakers that don't source materials and make all vehicles in the United States appeared to have been hit the hardest. The prospect of higher tariffs raises concerns about reduced profit margins, disrupted operations, and a potential slowdown in future growth. For these automakers, the new policy also introduces f