{"id":221132,"date":"2025-04-01T09:30:00","date_gmt":"2025-04-01T13:30:00","guid":{"rendered":"https:\/\/ibkrcampus.com\/campus\/?p=221132"},"modified":"2025-04-02T13:56:16","modified_gmt":"2025-04-02T17:56:16","slug":"tariff-tension-continues-to-start-q2","status":"publish","type":"post","link":"https:\/\/www.interactivebrokers.com\/campus\/traders-insight\/securities\/macro\/tariff-tension-continues-to-start-q2\/","title":{"rendered":"Tariff tension continues to start Q2"},"content":{"rendered":"\n<p>The S&amp;P 500 futures are down 20 points and are trading 0.4% below fair value, the Nasdaq 100 futures are down 72 points and are trading 0.4% below fair value, and the Dow Jones Industrial Average futures are down 225 points and are trading 0.5% below fair value.<\/p>\n\n\n\n<p>Early trading features a negative bias as investors wait on the latest tariff measures by the Trump administration to be announced tomorrow. There&#8217;s also some carryover downside momentum in play after weak showing for equities in the first quarter.<\/p>\n\n\n\n<p>Treasury yields are sharply lower, reflecting safe-haven buying in front of the tariff announcements. The 10-yr yield is down nine basis points to 4.16% and the 2-yr yield is down six basis points to 3.85%.<\/p>\n\n\n\n<p>The economic calendar today includes the final March S&amp;P Global US Manufacturing PMI at 9:45 ET, and the March ISM Manufacturing Index, February JOLTS &#8211; Job Openings, and February Construction Spending at 10:00 ET.<\/p>\n\n\n\n<p>In corporate news:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>PVH (PVH): beats by $0.06, beats on revs; guides Q1 EPS in-line, revs above consensus; guides FY26 EPS above consensus, revs above consensus; to repurchase $500 mln in 2025; intends to enter into $500 million accelerated share repurchase agreements<\/li>\n\n\n\n<li>Johnson &amp; Johnson (JNJ): bankruptcy effort for talc claims rejected by federal judge, according to Bloomberg<\/li>\n\n\n\n<li>Boeing (BA): awarded $2.46 bln U.S. Air Force contract modification; Wing production impacting Boeing&#8217;s efforts to increase 737 Max production, according to Air Current<\/li>\n\n\n\n<li>Tesla (TSLA): car sales in France &amp; Norway fall to lowest level in 4 years, according to Reuters<\/li>\n<\/ul>\n\n\n\n<p>&#8212;<\/p>\n\n\n\n<p>Originally Posted April 1, 2025 &#8211; <a href=\"https:\/\/www.briefing.com\/page-one\">Tariff tension continues to start Q2<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The S&amp;P 500 futures are down 20 points and are trading 0.4% below fair value, the Nasdaq 100 futures are down 72 points and are trading 0.4% below fair value, and the Dow Jones Industrial Average futures are down 225 points and are trading 0.5% below fair value.<\/p>\n","protected":false},"author":186,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":true,"footnotes":""},"categories":[18,6,8,9,26,3],"tags":[2479,1081,910,18981,4232],"contributors-categories":[13589],"class_list":{"0":"post-221132","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-macro","7":"category-north-america","8":"category-region","9":"category-securities","10":"category-text-articles","11":"category-traders-insight","12":"tag-dow-jones","13":"tag-nasdaq-100","14":"tag-sp-500","15":"tag-tariff-announcements","16":"tag-treasury-yields","17":"contributors-categories-briefing-com"},"pp_statuses_selecting_workflow":false,"pp_workflow_action":"current","pp_status_selection":"publish","acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.9 (Yoast SEO v27.3) - 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