NEW YORK, New York - U.S,. stocks made good gains Wednesday despite the euphoria of the Trump trade tariffs, expected to be unveiled later in the day.
"We expect to learn a lot more today from the president, but we also think the market will continue to remain on edge until we know about retaliation and/or escalatory measures or rhetoric from the major trading counterparts," Jon Brager, portfolio manager at Palmer Square Capital Management told CNBC Wednesday.
Following are Wednesday's closing quotes for the major U.S. stock indices:
On Wednesday, April 2, 2025, major North American stock indices closed higher, reflecting investor optimism ahead of anticipated policy announcements.
S&P 500:
The Standard and Poor's 500 index rose by 37.90 points, or 0.67 percent, to close at 5,670.97. This increase was driven by gains in the technology and consumer discretionary sectors, as investors showed confidence in continued economic growth.
Dow Jones Industrial Average:
The Dow Jones Industrial Average advanced by 234.93 points, or 0.56 percent, ending the session at 42,224.89. The rise was bolstered by strong performances in industrial and financial stocks, reflecting positive sentiment in these sectors.
NASDAQ Composite:
The NASDAQ Composite Index gained 151.16 points, or 0.87 percent, to finish at 17,601.05. The technology-heavy index benefited from robust performances in semiconductor and software companies, indicating sustained investor interest in tech stocks.
Japanese yen tumbles Wednesday, commodity currencies gain
On Wednesday the global foreign exchange market experienced notable movements among major currency pairs, influenced mainly by anticipation over the upcoming announcements by U.S. President Donal Trump on trade tariffs, expected after the close of America';s stock markets.
Euro (EUR) / US Dollar (USD):
The euro appreciated against the US dollar, with the EUR/USD pair rising by 0.53 percent to close at 1.0849. This uptick was supported by positive economic indicators from the Eurozone, including a stronger-than-expected manufacturing PMI report, which bolstered investor confidence in the region's economic recovery.
US Dollar (USD) / Japanese Yen (JPY):
The US dollar strengthened relative to the Japanese yen, as the USD/JPY pair increased by 0.29 percent to reach 150.02. The yen's depreciation was partly due to the Bank of Japan's continued commitment to its ultra-loose monetary policy, contrasting with expectations of tighter monetary policy in the United States.
US Dollar (USD) / Canadian Dollar (CAD):
The USD/CAD pair edged up by 0.11 percent, closing at 1.4317. This movement reflected a modest strengthening of the US dollar against the Canadian dollar, amid fluctuations in oil prices, a key driver for the Canadian economy.
British Pound (GBP) / US Dollar (USD):
The British pound advanced against the US dollar, with the GBP/USD pair climbing by 0.45 percent to settle at 1.2981. The pound's rise was attributed to optimistic economic forecasts from the Bank of England, suggesting a more robust recovery than previously anticipated.
US Dollar (USD) / Swiss Franc (CHF):
The US dollar experienced a slight decline against the Swiss franc, as the USD/CHF pair decreased by 0.10 percent to 0.8826. The Swiss franc's strength was supported by its status as a safe-haven currency amid ongoing geopolitical uncertainties.
Australian Dollar (AUD) / US Dollar (USD):
The Australian dollar saw an uptick against the US dollar, with the AUD/USD pair rising by 0.32 percent to 0.6296. This appreciation was linked to favorable trade balance data from Australia, indicating strong export performance.
New Zealand Dollar (NZD) / US Dollar (USD):
The New Zealand dollar posted a notable gain against the US dollar, as the NZD/USD pair increased by 0.68 percent to 0.5737. The kiwi's strength was driven by higher dairy prices, a crucial export commodity for New Zealand.
Global markets remain on edge Wednesday, European stocks plummet
On Wednesday, April 2, 2025, global stock markets presented a mixed performance, with notable fluctuations across major indices.
Canada's S&P/TSX Composite Index:
Canada's S&P/TSX Composite Index increased by 213.19 points, or 0.85 percent, closing at 25,246.47. The uptick was supported by gains in the energy and materials sectors, as commodity prices remained favorable.
UK and European Markets:
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The FTSE 100 in London declined by 26.32 points, or 0.30 percent, closing at 8,608.48. This downturn was influenced by a 1.21 percent drop in AstraZeneca shares, which ended at £112.28.
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Germany's DAX fell by 149.16 points, or 0.66 percent, to settle at 22,390.84.
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In France the CAC 40 decreased by 17.53 points, or 0.22 percent, ending at 7,858.83.
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The EURO STOXX 50 dropped by 16.35 points, or 0.31 percent, closing at 5,303.95.
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The Euronext 100 Index declined by 6.01 points, or 0.38 percent, to 1,562.89.
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Belgium's BEL 20 decreased by 21.76 points, or 0.50 percent, finishing at 4,344.17.
Asia-Pacific Markets:
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In Hong Kong the Hang Seng Index experienced a slight decline of 4.31 points, or 0.02 percent, closing at 23,202.53.
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China's SSE Composite Index saw a modest increase of 1.69 points, or 0.05 percent, closing at 3,350.13.
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Japan's Nikkei 225 advanced by 101.39 points, or 0.28 percent, ending at 35,725.87.
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Singapore's STI Index fell by 14.64 points, or 0.37 percent, ending at 3,954.21.
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In Australia thes S&P/ASX 200 gained 9.30 points, or 0.12 percent, to close at 7,934.50, driven by a 3.2 percent rise in real estate stocks such as Goodman Group and Charter Hall.
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The ALL ORDINARIES index in Australia increased by 6.20 points, or 0.08 percent, reaching 8,133.10.
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India's S&P BSE SENSEX rose by 592.93 points, or 0.78 percent, closing at 76,617.44. However, Dr. Reddy's Laboratories saw a slight decline of 0.23 percent, ending at 1,149.75 Indian rupees.
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In Indonesia the IDX Composite advanced by 38.26 points, or 0.59 percent, to 6,510.62.
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Malaysia's FTSE Bursa Malaysia KLCI climbed by 12.87 points, or 0.85 percent, closing at 1,526.52.
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In New Zealand the S&P/NZX 50 Index Gross edged up by 7.59 points, or 0.06 percent, to 12,320.19.
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South Korea's KOSPI Composite Index declined by 15.53 points, or 0.62 percent, ending at 2,505.86.
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In Taiwan the TWSE Capitalization Weighted Stock Index increased by 18.05 points, or 0.08 percent, closing at 21,298.2
Middle East & African Markets:
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Israel's TA-125 rose by 40.24 points, or 1.63 percent, to 2,502.68.
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South Africa's Top 40 USD Net TRI Index declined by 133.93 points, or 2.77 percent, ending at 4,692.64.
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