Wall Street today: US equities mixed, Ford surges 3.4%, General Motors rises 4.3%, Tesla up 1.8%
As of 10:30 am Eastern time, the S&P 500 was flat. The Dow Jones Industrial Average was up 0.3 per cent, and the Nasdaq Composite was 0.1 per cent lower
US equities were mixed on Wednesday, after a jobs report fanned concerns of a slowing economy and as investors focused on tariffs war.
As of 10:30 am Eastern time, the S&P 500 was flat. The Dow Jones Industrial Average was up 0.3 per cent, and the Nasdaq Composite was 0.1 per cent lower.
At the opening bell, the Dow Jones Industrial Average fell 2.6 points, or 0.01 per cent, to 42,518.37. The S&P 500 rose 3.2 points, or 0.06 per cent, to 5,781.36, while the Nasdaq Composite rose 27.8 points, or 0.15 per cent, to 18,312.965.
US private sector employment grew by 77,000 jobs last month, according to payroll firm ADP, well below estimates.
Meanwhile, US Commerce Secretary Howard Lutnick said on Bloomberg Television that Trump's 25 percent tariffs on Mexico and Canada could be adjusted to exempt some sectors, including potentially autos.
An ISM survey showed the services sector activity stood in the expansion territory at 53.5, higher than expectations of 52.6.
In the bond market, the yield on the 10-year Treasury rose to 4.23 per cent.
Gainers and losers
Auto stocks rose amid hopes that Trump may temper his tariffs on Mexico and Canada.
Ford surged 3.4 per cent and General Motors gained 4.3 per cent.
EV maker Tesla shares gained 1.8 per cent.
Brown-Forman shares jumped 9.1 per cent after the company reported stronger quarterly profit.
Campbells stock fell 3.8 per cent after the food company cut some of its financial forecasts.
Intel stock shed 2.1 per cent following Trump's remarks that lawmakers should get rid of a law offering subsidies to the semiconductor industry.
CrowdStrike shares fell 10.7 per cent after the cybersecurity firm forecast first quarter revenue below estimates.
Bullion
Gold was little changed on Wednesday despite a lower US dollar.
Spot gold was down 0.1 per cent at $2,913.79 an ounce as of 10:04 am EST (1504 GMT). US gold futures rose 0.1 per cent to $2,923.70.
Spot silver advanced 1.2 per cent to $32.36 an ounce.
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