To The Moon

Nasdaq, S&P 500 and DJIA Rise as Markets Cheer Pause on Some Auto Tariffs

Stocks rose Wednesday after President Trump paused tariffs on Canadian and Mexican automotive goods imported by the “Big Three” U.S. automakers – and potentially opened the door to other exemptions to his duties as well.

The $NASDAQ(.IXIC)$   led the way higher, rising 267.57 points (1.4%) to 18.552.73. The $S&P 500(.SPX)$   likewise gained 64.48 ticks (1.1%) to a 5,842.63 finish, while the $DJIA(.DJI)$    added 485.6 points (1.1%) to 43,006.59.

The key indexes – which had been negative earlier in the day – perked up after the White House gave $Ford Motor (F.US)$, $General Motors (GM.US)$ and Chrysler parent $Stellantis NV (STLA.US)$ a one-month pause on tariffs covering auto-related goods imported from Mexico and Canada.

The U.S. automakers' U.S., Canadian and Mexican factories all work closely together, meaning that auto parts sometimes travel across the three countries' borders multiple times during the manufacturing process.

The White House hinted that it's open to other tariff exceptions as well – news that Wall Street likes. Investors have given U.S. tariff plans a generally chilly reception due to uncertainty over how they – and Canadian and Mexican retaliatory duties against U.S. imports -- will affect stocks.

The calmer trade tensions helped risk-on assets like $Bitcoin (BTC.CC)$, which rose 2.8% to $90,307.39 as of shortly before 4:15 p.m. ET.

Among individual stocks making significant upward moves Wednesday:

-- U.S. automaker stocks rose on Trump’s tariff pause. $Stellantis NV (STLA.US)$ gained 9.3%, while $General Motors (GM.US)$ rose 7.1% and $Ford Motor (F.US)$ added 5.8%.

-- $AST SpaceMobile (ASTS.US)$ gained 18.1%, putting the space-services firm’s two-session gains at 31.9% following well-received Q4 results on Monday.

-- Chinese truck-shipping platform $Full Truck Alliance (YMM.US)$ rose 13.9% on well-regarded quarterly results.

-- $Deutsche Bank (DB.US)$ added 13.7%, reportedly on optimism that the incoming German government will increase defense and infrastructure spending – potentially stimulating the European nation’s economy.

-- Crypto stock $Strategy (MSTR.US)$ rallied 12.1% on Bitcoin’s rise and word Sunday that Trump will create a U.S. “strategic cryptocurrency reserve.” MSTR has added 23% since Monday’s close.

Conversely, significant decliners included:

-- $Thor Industries (THO.US)$, which fell 14.5% after reporting a quarterly loss per share instead of the profit analysts had expected. The company also narrowed its forward guidance.

-- $Abercrombie & Fitch (ANF.US)$, which shed 9.2% after the apparel firm issued poorly received forward guidance despite Q4 earnings and revenue beats.

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