(For a Reuters live blog on U.S., UK and European stock
markets, click or type LIVE/ in a news window.)
*
KB Home ( KBH ) falls after downbeat annual revenue forecast
*
Consumer confidence stands at 92.9 in March
*
CrowdStrike ( CRWD ) gains after brokerage rating
*
Indexes up: Dow 0.04%, S&P 500 0.13%, Nasdaq 0.32%
(Updates wimid-session trading)
By Pranav Kashyap and Johann M Cherian
March 25 (Reuters) - Wall Street's major indexes edged
higher in choppy trading on Tuesday as investors assessed
consumer sentiment data and anticipated a more flexible trade
policy stance from the Trump administration next week.
U.S. President Donald Trump on Monday hinted at a potential
reprieve, suggesting that not all proposed tariffs would be
enforced by April 2, with certain countries possibly receiving
exemptions.
The benchmark S&P 500 and the tech-heavy Nasdaq
soared to their highest levels in over two weeks,
bolstered by robust performances from megacap stocks like Nvidia ( NVDA )
and Tesla.
However, the lingering uncertainty over Trump's
unpredictable tariff strategy continued to cast a shadow over
market sentiment, positioning the S&P 500 for its first
quarterly loss in six periods.
Adding a layer of concern, Moody's underscored a troubling
trajectory for U.S. fiscal strength, projecting a sustained
multiyear decline.
A report revealed a dip in consumer confidence, with the
index falling to 92.9 in March - the lowest since February 2021.
"There's a little bit of paralysis with market participants
not knowing what to do because they don't know what policy is
going to go into place," said Charles Ashley, portfolio manger
at Catalyst Funds.
"We want to position ourselves to be insulated to the worst
case scenario but at the same time we still look for
opportunity."
Tesla shares slipped 0.4% after a substantial 12% rally
from the previous day.
Despite a general rise in electric vehicle registrations
across Europe, data for February revealed a year-on-year
contraction in
Tesla's market share
, marking the second consecutive month of declining sales.
KB Home ( KBH ) fell 3.4% as the homebuilder cut its
full-year 2025 revenue forecast.
At 11:49 a.m. ET, the Dow Jones Industrial Average
rose 13.94 points, or 0.04%, to 42,598.70, the S&P 500
gained 7.66 points, or 0.13%, to 5,775.23 and the Nasdaq
Composite gained 58.85 points, or 0.32%, to 18,247.45.
Seven of the S&P 500 sectors gained, with communication
services up 1%, boosted by a 2.4% jump in Meta.
On the other hand, utilities led declines with a 1.6%
fall.
Fed Governor Adriana Kugler
said
that the central bank's interest rate policy remains
restrictive, but progress on bringing inflation back to the
central bank's 2% target has slowed.
New York Fed President John Williams said firms and
households are "experiencing
heightened uncertainty
" about what lies ahead for the economy.
Amongst a cascade of economic indicators set to drop
this week, focus will be on the personal consumption
expenditures price index. The Fed's preferred inflation gauge is
set to drop on Friday.
Among others, McCormick & Company ( MKC ) dropped 1% after
the food processing company missed estimates on quarterly
profit.
CrowdStrike ( CRWD ) gained 4.5% as brokerage BTIG
raised its rating on the cybersecurity company to "buy" from
"neutral".
Advancing issues outnumbered decliners by a 1.25-to-1
ratio on the NYSE and declining issues outnumbered advances by a
1.31-to-1 ratio on the Nasdaq.
The S&P 500 posted 11 new 52-week highs and two new
lows, while the Nasdaq Composite recorded 32 new highs and 104
new lows.