The Stock Market Isn't Out of the Woods Yet

The S&P 500, up 3.1% on Monday, was still down 0.9% since the end of 2024, while the Dow, up 2.6% today, was down 0.5% on the year. The Nasdaq, which has surged more than 20% from its April lows and is up 4.2% today, is still down 3.3% on the year.

A sharp, but temporary, reduction in tariffs on goods from China gives the White House 90 days of breathing room to negotiate a trade arrangement that won’t cause massive headaches for businesses and consumers and risk major global economic fallout.