Major stock indexes turned in a mixed performance on Monday, after recovering from ste♛ep early-session losses, as investors await announcements on a new ba🥂tch of tariffs the Trump administration has said it will implement this week.
The S&P 500 and 澳洲幸运5开奖号码历史查询:Dow Jones Industrial Average gained 0.6% and 1%, respectively, while the tech-heavy 澳洲幸运5开奖号码历史查询:Nasdaq Composite slipped 0.1%. 澳洲幸运5开奖号码历史查询:Stocks had plunged on Friday after a hotter-than-expected inflation reading and weak consumer sentiment data reinforced concerns about the healt💫h of the U.S. economy.
The major indexes, which came into the week on three-day losing streaks, finished March with big monthly losses, as stocks have come under pressure after a brief recovery from a month-long selloff amid renewed concerns about the 澳洲幸运5开奖号码历史查询:potential impact of tariffs. The Dow fell 4.2% for the month, while the S&P 500 and Nasdaq Composite shed 5💯.8% and 8.2%, respectively. The S&P 500 and Nasdaq posted their biggest one-month declines since late 2022.
President Trump is due to unveil 澳洲幸运5开奖号码历史查询:wide-ranging reciprocal tariffs on countries that char🥂ge levies on U.S. exports. The new tariffs are slated t🅷o go into effect on April 2, which the president refers to as "Liberation Day."
The yield on the 10-year Treasury note, which tends to fall when concerns about the economy rise, was at 4.21% in late trading, down from 4.26% at Friday's close. The yield, which affects borrowing costs on all sorts of loans, fell as low as 4.18% earlier Monday, near its lowest level of the month.
Mega-cap technology stocks, which have been especially volatile in recent weeks, were mostly lower on Monday. EV maker Tesla (TSLA) fell 1.7%, while chipmakers Nvidia (NVDA) and Broadcom (AVGO) slipped about 1%, as did Microsoft (MSFT) and Amazon (AMZN). Apple (AAPL) gained nearly 2%, while Alphabet (GOOG) and Meta Platforms (META) were little-changed.
Among other noteworthy technology names, data analytics software provider Palantir (PLTR) and adtech company AppLovin (APP), two AI invest꧒or favorites that have been hit hard during the recent rout, dropped nearly 2% and 3%, respectively.
Shares of Discover Financial Services (DFS) jumped 7.5% to lead S&P 500 gainers amid reports that the proposed acquisition of the company by Capital One (COF) could secure approval. Walmart (WMT) led Dow aꦫdvancers, rising 3%, as cꦓonsumer staples stocks gained ground Monday.
Shares of Moderna (MRNA) and other 澳洲幸运5开奖号码历史查询:vaccine developers dropped Monday after the Food and Drug Administration's vaccine chief, Peter Marks, said he would resign, citing conflicts with Health and Human Services Secretary Robert F. Kennedy Jr. Moderna s🎶hares plunged nearly 9% to lead S&P 500 decliners.
Gold futures were up 1.4% at nearly $3,160 an ounce, 澳洲幸运5开奖号码历史查询:trading at record high levels, while West Texas Intermediate futures, the U.S. crude oil benchmark, rose 2.9% to $71.40 p♓er barrel, trading near their highest level of the month. Bitcoin was at $82,400, up from an earlier low of $81,300.
These Were the Biggest S&P 500 Movers on Monday
Advancers
- Discover Financial Services (DFS) shares surged 7.5%, gaining the most of any S&P 500 stock on Monday, following indications that interim CEO J. Michael Shepherd will stay at the helm of the credit card issuer until Capital One Financial (COF) completes its acquisition of the company. In addition, a Friday report from The Capitol Forum suggested that the Department of Justice may be less inclined to challenge the merger despite concerns about a potential impact on consumers with no credit history. Capital One shares added 3.3%.
- Shares of Ticketmaster parent Live Nation Entertainment (LYV) advanced 4.4%. Jericho Capital Asset Management recently included the live event company's stock among its top picks, noting its strong performance in 2024, driven by a rise in concert events and attendees versus the prior year. Last week, Live Nation agreed to a $20 million settlement in a lawsuit filed by investors who alleged that the company failed to disclose risks related to business practices that raised antitrust concerns.
- American International Group (AIG) shares jumped 4.0% after the insurer's board of directors approved plan to repurchase as much as $7.5 billion in the company's common stock. The boost to the buyout plan coincided with AIG's investor day event, which also saw the company issue upbeat growth targets.
Decliners
- Moderna (MRNA) shares tumbled 8.9%, logging the S&P 500's weakest daily performance. The losses for the biotech stock came after Peter Marks, the top vaccine official at the Food and Drug Administration (FDA), 澳洲幸运5开奖号码历史查询:announced his resignation from the agency. Marks, who participated in the development of the vaccines to protect against COVID-19, intends to step down by the end of this week, pointing to disagreements with Health and Human Services Secretary Robert F. Kennedy Jr. Shares of other vaccine manufacturers also lost ground on Monday.
- Shares of Lululemon Athletica (LULU) fell 3.4%, extending losses posted late last week in the wake of the company's quarterly earnings release. Although sales and profit topped estimates, the manufacturer of yoga attire provided an underwhelming outlook, noting diminished store traffic amid cautious consumer spending trends. Lululemon's CEO said the athletic wear company is making strides to address its persistent 澳洲幸运5开奖号码历史查询:"newness" issues, which occur when a company's product mix fails to entice consumers.
- Charles River Laboratories (CRL) shares dropped 3.2%. Shares of the pharmaceutical company have been trending downward since March 21, when Goldman Sachs downgraded the stock to "neutral" from "buy" and trimmed its price target. Analysts highlighted concerns about Charles River's Contract Development and Manufacturing Organization (CDMO) business, along with concerns about the stock's valuation relative to demand trends.
Major Indexes Lose Ground for Second Straight Month
Major U.S. stock indexes posted steep losses in March, adding to the previous month's downturn.
The S&P 500 and Nasdaq Composite tumbled 5.8% and 8.2% thi𝄹s month, while the Dow Jones Industrial Average shed 4.2%. For the S&P 500, the decline was its biggest since December 2022, while the Nasdaq had its worst month since September 2022.
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So🔯 far in 2025, the Nasdaq has given up more than 10%, while the S&🌠;P 500 is off 4.6% and the Dow is down 1.3%.
Why Tesla Was Among S&P 500's Biggest Decliners in Q1
Tesla (TSLA) was one of the worst-performing stocks in the 澳洲幸运5开奖号码历史查询:S&P 500 in the first quarter, with shares losing more than 🐷a third of their value since the start of 2025.
The electric vehicle maker’s stock declined for nine consecutive weeks during the quarter, as sales slumped in key markets and the company 澳洲幸运5开奖号码历史查询:faced a backlash to 澳洲幸运5开奖号码历史查询:CEO Elon Musk’s political activities, along with uncertainty about how tariffs could impact its business.
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In February, Tesla's sales in the European Union tumbled for a 澳洲幸运5开奖号码历史查询:second consecutive month, ev✨en as overall new electric vehicle registrations increased. Meanwhile, sales in China declined 50% year-over-year in February as competition from Chinese firms ate into Tesla's market sh🦋are.
Musk’s position at the helm of the Trump administration’s cost-cutting 澳洲幸运5开奖号码历史查询:Department of Government Efficiency has also 澳洲幸运5开奖号码历史查询:raised worries his political involvement is hurting the company’s business, with recent protests and vandalism of Tesla vehicles leading one analyst to call it a “澳洲幸运5开奖号码历史查询:brand tornado crisis."
Still, Wall Street analysts lean more bullish than bearish on the stock's prospects, with 11 of the 19 analysts tracked by Visible Alpha giving it a "buy" rating, compared to four "hold" and four "sell" ratings. Their average price target at $349 is roughly a third above the stock's closing price of $259.16 Monday.
Magnificent 7 Stocks Post Worst Month and Quarter on Record
The 澳洲幸运5开奖号码历史查询:Magnificent Seven 🐽;declined on Monday, capping off the worst month and quarter on record for the group of big tech stocks that account for more than a quarter of the S&P 500's market value.
The Roundhill Magnificent Seven ETF (MAGS) dropped 0.4% on Monday. The ETF—composed of Apple (AAPL), Microsoft (MSFT), Nvidia (NVDA), Alphabet (GOOG), Amazon (AMZN), Meta (META) and Tesla (TSLA)—lost about 10.5% of its value in March, its worst month since it launched in April 2023. With March's losses and February's 8% decline, the𒆙 fund is down more than 15% since the start of the y🧜ear.
While each of the stocks in the Mag Seven is trading in the red for the year, one stands out for its particularly poor performance: Tesla shares have fallen more than 35% so far this year amid 澳洲幸运5开奖号码历史查询:slowing sales and 澳洲幸运5开奖号码历史查询:investor concerns&nbs꧋p;about CEO Elon Musk's political involvement. Nvidia, the group’s next-w🅷orst performer, shed 20% over the same period. The rest of the group is down between 2% (Meta) and 18% (Alphabet) since the start of 2025.
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The Mag Seven’s year got off to a rough start when a surprisingly efficient AI model from Chinese start-up DeepSeek called into question the economic assumptions that underpinned Big Tech’s AI rally. Moderating earnings growth and lingering doubts about the payoff of AI infrastructure investments have impeded the group’s recovery from January’s DeepSeek rout. The Mag Seven, some of the most widely held stocks in the world, are also under pressure from President Trump’s tariff threats, which have spooked investors and driven some to 澳洲幸运5开奖号码历史查询:flee stocks for safe havens like 𒅌gold and Treasurys.
The Magnificent Seven was the driving force be🍸hind the U.S. stock market’s strength in the past two years. The stocks accounted for more than 50% of the S&P 500’s return in both 2023 and 2024.
The group’s dominance over that period is exactly why some market watchers were wary of last year’s rally. The Mag Seven’s massive market capitalizations—ranging from $830 billion to $3.3 trillion—make them the most influential stocks in the S&P 500, and their influence this year has been negative. The Mag Seven 澳洲幸运5开奖号码历史查询:fell into a correction in February, 澳洲幸运5开奖号码历史查询:weeks before the S&P 500. Whereas the 澳洲幸运5开奖号码历史查询:equal-weight S&P 500—in which a 1% gain for the index’s smallest company, Caesar’s Entertainment (CZR), has the same impact as a 1% gain for its biggest, Apple—still hasn’t corrected. (Though it came very close in early March when it closed 9.8% off its December high.)
Why Gold Has Surged 20% So Far This Year
Gold a♈dvanced to a record high of more than $3,100 an ounce on Monday, capping off a blockbust✱er quarter of gains.
Gold futures rose 20% in the first three months of the year, the metal’s biggest quarterly gain since 1986, according to Reuters.
Investors have rushed to safe havens like gold and U.S. Treasurys in response to the uncertainty created by President Trump’s 澳洲幸运5开奖号码历史查询:unpredictable tariff threats. Trump over the last two months has shaken investor confidence by sporadically announcing, delaying, diluting, and escalating trade wars with many of America’s largest trading partners. The on-again, off-again approach to tariffs has also left 澳洲幸运5开奖号码历史查询:consumers and 澳洲幸运5开奖号码历史查询:businesses worried about the economy.
Economic data have remained strong this year, but researchers warn that lower confidence and heightened uncertainty could soon 澳洲幸运5开奖号码历史查询:translate into less spending and slower growth. Meanwhile, tariffs are likely to raise prices, 澳洲幸运5开奖号码历史查询:potentially reigniting inflation oꦫr making it stic🧸kier than it otherwise would be.
Individual investors have rushed into gold as uncertainty has 澳洲幸运5开奖号码历史查询:hammered the stock market. Focused commodities ETFs, which include gold funds, recorded inflows of $4.7 billion in February, their biggest monthly haul since March 2022, according to Morningstar data. The SPDR Gold Shares ETF (GLD) accounted for $3.4 billion of that total. With stock market turbulence and gold prices increasing throughou🐎t March, it’s likely inflows accelerated in the last month of the quarter.
Retail investors have added fuel to what was 澳洲幸运5开奖号码历史查询:already a strong gold rally. Central bank demand, expectations for lower interest rates, and geopolitical tensions lifted prices to record highs throughout last year. All of those factors remain relevant for gold investors, which is why some 澳洲幸运5开奖号码历史查询:Wall Street analysts have recently 澳洲幸运5开奖号码历史查询:lifted their price targets.
Bank of America strategists last week fore💛cast gold would rise to $3,500 an ounce in the next two years. Increased demand, they said, was likely to be driven by central banks reducing their U.S. dollar and Treasury holdings, as well as retail investors and China’s insurance industry, which was recently given the green light to invest in gold for the first time.
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Gold was at around $3,160 in late trading Monday, up more than 1% on the day and 10% since the start of the month.
Canada Goose Hits All-Time Low After Barclays Downgrade
Shares of Canada Goose Holdings (GOOS) sank to a new reco💞rd low Monday after analysts from Barclays downgraded the apparel maker's stock.
The analysts downgraded the stock to "underweight" from "equal weight" and cut their price target to $8 from $10. They "expect the competitive landscape and geopolitical factors to weigh on its performance in 2025."
Canada Goose shares were down nearly 5% Monday afternoon to $7.85 after dropping to as low as $7.51 earlier in ꦐthe session. They have lost roughly 35% of their value over the last year.
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According to the analysts, Canada Goose faces several headwinds, including macroeconomic pressure, competition from other luxury brands, revenue volatility due to seasonality, and "challenges expanding beyond heavyweight down into non-core product categories."
In addition, since nearly all of the firm's down-filled outerwear was manufactured in Canada in fiscal 2024 and about 25% of its sales occurred in its southern neighbor, the analysts said U.S. business margins are likely to be pressured by the 澳洲🤪幸运5开奖号码历史查询:Trump administration's♑ looming tariffs on Canadian imports. Executives have said they are not planning to take steps to mitigate the impac🐼t of the 25% tariff on imported finished Canadian products "aside from prepositioning inventory in the U.S. where it was able to," the note added.
The Sectors That Stand to Be Most Affected by Tariffs
Morgan Stanley mapped out how reciprocal tariffs slated to be announced Wednesdayꦜ could impact various sectors, from car companies to footwear brands.
Analysts predict the U.S. will raise import taxes another 10% on goods from China and enact tariffs on specific products from Europဣe and Asia, including Vietnam, according to a note published Monday.
They anticipate an eventual easing of tariffs on products brought in from Mexico and Canada, which may concentrate the impact of import taxes in a fe🐼w specific sectors, the🦩 analysts said.
"Although the precise path toward implementation is unclear, on both tariff levels, products, & geographies, one thing we can say with clarity: Tariffs are going higher, and companies should be prepared, to mitigate the effects," the note said.
Automobile, footwear, and apparel importers may have the hardest time since they h🍎ave limited ability to raise prices without depressing demand, the analysts said.
Here's where the analysts expect to see the biggest impacts:
- Tariffs on automobiles and auto parts from Mexico and Canada would put cars out of reach for many consumers, curtailing demand, the analysts said. Profits may come under pressure at General Motors (GM), which sources 26% of its vehicles from Mexico, and Ford (F), which sources 17% of cars from the country, Morgan Stanley said. Other auto companies with unfavorable tariff exposure include Stellantis (STLA), BMW, Mercedes-Benz, Porsche, and Volkswagen.
- Potential tariffs on goods from Vietnam could impact footwear companies, as 34% of shoe imports were sourced from the country last year, Morgan Stanley said. Nike (NKE), Allbirds (BIRD), On Holding (ONON), and Skechers USA (SKX) may be particularly challenged by such tariffs, the analysts said.
- Tariffs may be tougher adjustment for retailers like Academy Sports and Outdoors (ASO), Five Below (FIVE), Warby Parker (WRBY), Wayfair (W), and Dollar Tree (DLTR), the analysts said. Meanwhile, Bath & Body Works (BBWI) and Levi Strauss (LEVI) appear relatively insulated, the analysts said.
- China is still an epicenter of hardware production for tech devices like smartphones, tablets, computer monitors, and headphones, so tariffs could weigh on retailers like Best Buy (BBY), the note said.
Discover Financial Surges After Retention of Interim CEO
Discover Financial Services (DFS) shares paced the 澳洲幸运5开奖号码历史查询:S&P 500 during a mostly down day for equities market�🃏�s Monday as investors continued to take a positive view of last week's announcement about its leadership situation.
Shares were up more than 6% in recent trading on word the credit card provider and J. Michael Shepherd had agreed for the interim CEO to remain on the job until rival Capital One Financial (COF) cඣompletes its planned pur𒐪chase of Discover Financial.
The $35.3 billion deal was hammered out in Februarꦿ🔯y 2024 and is expected to close soon. The contract with Shepherd pays him a base salary of $1.75 million in April, and $750,000 for May and June. If the transaction is finalized before June 30, he'll get an additional $2.4 million as a bonus.
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Shares of Discover Financial Services have climbed nearly 30% in the last year, far outpacing the S&P 500's performance during the period.
Moderna Plunges as FDA Vaccine Chief Resigns
Shares of Moderna (MRNA) and other vaccine developers dropped Monday after the Food and Drug Administration's vaccine chief, Peter Marks, said he wou🦩ld resign, citing conflicts with Health and Human Services Secretary Robܫert F. Kennedy Jr.
Marks, who oversaw the approval of COVID-19 vaccines as the head of the FDA’s Center for Biologics Evaluation and Research, said Friday he would leave his role at the end of this week. The decision comes after Marks was given a choice to resign or be fired, according to a report from the The Wall Street Journal.
“I was willing to work to address 澳洲幸运5开奖号码历史查询:the Secretary's concerns regarding vaccine safety and transparency,” Marks said in his resignation letter, obtained by the WSJ. “However, it has become clear that truth and transparency are not desired by the Secretary, but rather he wishes subservient confi𒊎rmation of his misinformation and lies.”
The FDA and HHS did not💙 respond to requests for commꦅent.
Shares of Moderna, which developed a COVID-19 vaccine, were down more than 8% in recent trading, making it the worst-performing stock on the S&P 500. Novavax (NVAX) and BioNTech (BNTX) also fell sharply.
NYSE Opens Texas Exchange With Trump Media Listing
The 澳洲幸运5开奖号码历史查询:New York Stock Exchange (NYSE)🍷 has gone to Texas, and President Donald Trump's company has gone with it.
The iconic equities trading operation owned by Intercontinental Exchange (ICE) announced it has opened NYSE Texas in Dallas with the first listing: Trump's social media firm, Trump Media & Technology Group, or TMTG (DJT).
NYSE Texas is the first securities exchange to open in the Lone Star State, and NYSE Group President Lynn Martin said that the new offering "will allow companies to capitalize on the pro-business dynamics in Texas."
NYSE noted that Texas is home to more NYܫSE-listed companies than any other state, representing more than $3.7 trillion in aggregate market 💝value.
TMTG CEO Devin Nunes praised Texas' climate for business and entrepreneurship, adding that this listing "alongside our plans to reincorporate in Florida, shows we're part of a growing movement to take our business to states that value free enterprise and personal freedom."
The stock will continue to be primar꧋ily listed on the New York-based NYSE, while being dually listed on NYSE Texas.
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Intercontinental Exchange shares hit an all-time high last week but lost ground today amid a broad selloff, as did those of Trump Media & Technology Group. Trump Media shares have lost more than half of their value since Trump's inauguration in January.
Mr. Cooper Stock Soars as Rocket Buys Loan Servicer
Shares of Mr. Cooper Group (COOP) jumped in early trading Monday on news that mortgage lending giant 澳洲幸运5开奖号码历史查询:Rocket Companies (RKT) plans to acquire the loan servicer for $9.4 billion🌠 🐠in stock.
Mr. Cooper shareholders would receive 11 shares of Rocket for each share of Mr. Cooper they currently own, valuing Mr. Cooper at about $143.33 per share, a premium of about 35% compared to its volume-weighted average price over the past 30 days through Fridayꦛ.
💞The combined entity would have a loan servicing portfo✅lio of over $2.1 trillion, and make up about one in six mortgages in the country, the companies said.
The deal marks Rocket's second major acquisition this month, as it said it would 澳洲幸运5开奖号码历史查询:acquire online real estate platform Redfin (RDFN) for $1.75 billion on March 10.
The deal is expected to close in the fourth quarter of this year, pen📖ding approval from Mr. Cooper shareholders and regulators. Bra🦩y would then become CEO of Rocket Mortgage and report to Varun Krishna, who would remain CEO of Rocket Companies.
Mr. Cooper shares were up 15% at around $120 in recent trading. Rocket Companies s🍬hares dropped 10%.
Watch These S&P 500 Chart Levels
The S&P 500 (SPX) lost ground🌟 last week for the fi♉fth time in six weeks amid uncertainty about the impact of tariffs and growing concerns the economy could be headed toward a recession.
After falling below the closely watched 澳洲幸运5开奖号码历史查询:200-day moving average, the S&P 500 formed a flag&nbs🉐p;in the second half of March before breaking down below the pattern in Friday’s trading session, potentially paving the way for a continuation move lower.
It’s also worth pointing out that the 澳洲幸运5开奖号码历史查询:relative strength index failed to climb back above the 50 threshold during the index’s recent upswing, signaling underlying weak buying momentum.
Investors should monitor crucial support levels on the S&P 500's chart around 5,445 and 5,260, while also watching key resistance levels near 5,875 and 6,090.
Read the full 澳洲幸运5开奖号码历史查询:technical analysis piece here.
Major Index Futures Sharply Lower
Futures tied to the Dow Jones Industri📖al Average were down 0.7%.
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S&P 500 futures were off 1.1%.
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Nasdaq 100 futures dropped 1.5%.
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