S&P 500 falls on tariff questions, Nvidia gains before earnings

uromt42xelgn57p85pd9v(ul_media_dl_1.png BloombergArticle content(Bloomberg) — US stocks traded lower on Monday as President Donald Trump responded to the Supreme Court’s ruling against his sweeping tariffs by imposing a new, across-the-board 15% levy on US imports, sowing fresh confusion around global trade. Shares of Nvidia Corp. were a bright spot, advancing before Wednesday’s earnings report.Sign In or Create an AccountEmail AddressContinueor View more offersArticle contentThe S&P 500 Index was down 0.385% at 9:52 a.m. in New York, with losses in technology stocks offsetting gains in energy and health care. Consumer discretionary and industrials sectors were in the red. The Nasdaq 100 Index was down 0.609%.Article contentWe apologize, but this video has failed to load.Try refreshing your browser, ortap here to see other videos from our team.Article contentArticle contentThe tariff situation has trigged “mass confusion,” Brian Reynolds, chief market strategist at Reynolds Strategy, wrote in a note Monday. Article contentTop StoriesGet the latest headlines, breaking news and columns.There was an error, please provide a valid email address.Sign UpBy signing up you consent to receive the above newsletter from Postmedia Network Inc.Thanks for signing up!A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Top Stories will soon be in your inbox.We encountered an issue signing you up. Please try againInterested in more newsletters? Browse here.Article contentNonetheless, he expects “tariff rates will be moving lower from the levels that investors feared” almost a year ago, boosting profits this year, particularly for hard-hit small firms. That “could be a modest positive for the economy and equity prices,” he said.Article contentNvidia rose 1.6% as Aletheia Capital raised the stock to a buy, saying it’s too cheap to ignore before earnings. Shares have been drifting sideways for months and are in the bottom half of performers this year for the S&P 500. They were also the most under-owned large-cap tech stock at the end of the fourth quarter. Article contentTech stocks in general were modestly weaker as OpenAI was said to have told investors it’s planning to spend about $600 billion on infrastructure by 2030 after previously saying it was committed to spending more than $1.4 trillion.Article contentEnergy stocks advanced. Oil prices rose as investors continued to assess the potential for US-led conflict with Iran.Article contentIn earnings news, Domino’s Pizza Inc. rallied 4.0% after the company reported US comparable sales topped expectations and boosted its dividend. Article contentNovo Nordisk A/S ADRs sank 15% as its next-generation obesity shot CagriSema delivered less weight loss than Eli Lilly & Co.’s rival blockbuster in a trial. Lilly gained 3.3%.Article contentShares of JPMorgan Chase & Co. were little changed. The bank is due to host a company update after the bell. Article contentTrending Posthaste: Forget tariffs, here's how Trump is really making money off Canada News 'Big challenges' remain as oilsands majors, Ottawa and Alberta step up talks ahead of April 1 deadline Energy Subscriber only. Garry Marr: There's a great divide in Canada's office real estate market and it's creating big winners and big losers Subscriber only Commercial Real Estate What investors should be looking for as the market reprices Investor What you need to know about filing to the CRA this year as tax season looms Personal Finance Share this article in your social networkCommentsYou must be logged in to join the discussion or read more comments.Create an AccountSign in Join the Conversation Postmedia is committed to maintaining a lively but civil forum for discussion. Please keep comments relevant and respectful. Comments may take up to an hour to appear on the site. You will receive an email if there is a reply to your comment, an update to a thread you follow or if a user you follow comments. Visit our Community Guidelines for more information. Posthaste: Forget tariffs, here's how Trump is really making money off Canada News 'Big challenges' remain as oilsands majors, Ottawa and Alberta step up talks ahead of April 1 deadline Energy Subscriber only. Garry Marr: There's a great divide in Canada's office real estate market and it's creating big winners and big losers Subscriber only Commercial Real Estate What investors should be looking for as the market reprices Investor What you need to know about filing to the CRA this year as tax season looms Personal Finance