Wall Street Today: Dow, Nasdaq, S&P 500 open flat as investors focus on China tariff deadline; Nvidia down 1.3%
The US and China are expected to come to a trade deal before the 12 August 2025 tariff deadline. However, there have been media reports on a potential tariff deadline extension for the Asian nation.
So far, there have been no reports of a tariff deadline extension. Hence, China is still set to witness 20% tariff rates on top of the 10% baseline tariffs for goods imported into the United States.
Chipmaking stocks which rely on China witnessed a drop on Monday's US market session as concerns over the raging trade war loom over Wall Street. Shares of chipmaking giant, Nvidia Corp., dropped 1.3% at the market open, but are currently trading 0.33% higher at $183.29, compared to $182.70 at the previous US market session.
At 9:30 a.m. (EDT), The Dow Jones Industrial Average rose 0.02% to open at 44,184.36 points on Monday, compared to 44,175.61 points at the previous market session. The Dow Jones is trading 0.21% lower at 44,080.47 points as of 10:42 a.m. (EDT), according to Marketwatch data.
UnitedHealth Group Inc., Sherwin-Williams Co., McDonald's Corp., Procter & Gamble Co., NVIDIA Corp., Microsoft Corp., 3M Co., JPMorgan Chase & Co., Verizon Communications Inc., and Johnson & Johnson were among the stocks which were trading higher.
While companies like Amgen Inc., Travelers Cos. Inc., Walmart Inc., Coca-Cola Co., Goldman Sachs Group Inc., Visa Inc., Amazon.com Inc., Walt Disney Co., American Express Co., Salesforce Inc., Home Depot Inc., Apple Inc., Cisco Systems Inc., and Honeywell International Ltd., Boeing Co., Chevron Corp., Merck & Co. Inc., International Business Machines Corp., Caterpillar Inc., and Nike Inc. were among the laggards for the day.
The S&P 500 opened flat at 6,389.67 points, while the Nasdaq Composite rose 0.04% to 21,459.654 points at the opening bell.
(This is a developing story. Please check back for updates)
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
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