S&P 500 seesaws as benchmark tries to continue comeback from monthlong rout: Live updates

S&P 500 seesaws as benchmark tries to continue comeback from monthlong rout: Live updates


Traders work on the floor at the New York Stock Exchange on March 20, 2025.

Brendan McDermid | Reuters

The S&P 500 fell on Thursday as the index attempted to build on the previous session’s strong gains, while some solid housing data assuaged some concerns about the U.S. economy falling into a recession.

The S&P 500 traded 0.3% lower, while the Nasdaq Composite fell 0.4%, as Apple shares came under pressure. The Dow Jones Industrial Average hovered around the flatline.

New economic data released Thursday showed that economic worries might actually be overblown. Data from the National Association of Realtors showed that sales of previously owned homes in February rose 4.2% from January, while industry analysts had expected a 3% drop. Additionally, jobless claims were only up slightly last week while layoffs remain low.

That comes after Fed Chair Jerome Powell said the economy is “strong overall” and that he believes its policy is in a “good place” to react to any signs of weakness in economic data. He also labeled the potential effect of tariffs on inflation as likely being short-lived or transitory.

“Bull markets don’t die of old age. They die of fright, and what they’re most afraid of is recession,” said Sam Stovall, CFRA Research’s chief investment strategist. “We’re at crossroads, but I think that the market is basically saying, Okay, we’re still on path for a rate cut in June, and we’re not going to worry about it because right now the economy is holding up pretty well.”

“In general, investors feel fairly optimistic that we are not headed for bad times and that, if anything, right now the market is overreacting to the downside,” he added.

Stocks rebounded Wednesday following the latest Fed meeting, at which the central bank forecast two interest rate cuts this year and held the federal funds rate in a range of 4.25% to 4.5%. However, it also raised its inflation outlook and lowered its economic growth projection. Traders largely expect the Fed to not make any moves, however, before officials see the impact of tariffs.

The S&P 500, which briefly slipped into correction territory last week, is now more than 7% off its record high. Over the past month, it’s declined around 7%.

As White House tariff policies rattled markets earlier this month, President Donald Trump said the economy could see “a period of transition.” A tariff exemption on select Canadian and Mexican imports expires April 2.

“Should we find that the tariff talk is indeed more rhetoric than reality, meaning that Trump does not go overboard on April 2, that could result in a positive jolt for the market,” Stovall also said.



Source

Shares of China’s Sany Heavy Industry trade flat on Hong Kong trading debut after .6 billion IPO
World

Shares of China’s Sany Heavy Industry trade flat on Hong Kong trading debut after $1.6 billion IPO

A worker debugs a robot at a Sany Heavy Industry plant in Changsha, central China’s Hunan Province, on Feb. 20, 2020. Chen Zeguo | Xinhua News Agency | Getty Images China’s Sany Heavy Industry rose over 3% on its Hong Kong trading debut Tuesday after raising HK$12.36 billion ($1.59 billion) in one of the city’s […]

Read More
Asia markets dip as investors look to Trump-Takaichi meeting in Japan
World

Asia markets dip as investors look to Trump-Takaichi meeting in Japan

U.S. President Donald Trump meets with Japan’s Emperor Naruhito at the Imperial Palace in Tokyo on Oct. 27, 2025. Kazuhiro Nogi | Afp | Getty Images Asia markets fell across the board on Tuesday as investors in the region look toward a meeting between U.S. President Donald Trump and newly minted Japanese Prime Minister Sanae […]

Read More
South Korea’s third-quarter GDP grows at fastest pace in over a year, beating expectations
World

South Korea’s third-quarter GDP grows at fastest pace in over a year, beating expectations

A container ship sails past buildings in Busan, South Korea, on Thursday, Sept. 22, 2022. Photographer: SeongJoon Cho/Bloomberg via Getty Images Bloomberg | Bloomberg | Getty Images South Korea’s economy expanded at its fastest pace in more than a year, with its third-quarter gross domestic product growth topping analysts’ estimates on Tuesday. According to advance […]

Read More