(Updates to midsession)
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KB Home ( KBH ) falls after downbeat annual revenue forecast
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Consumer confidence stands at 92.9 in March
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CrowdStrike ( CRWD ) gains after brokerage ups rating
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S&P 500 +0.01%, Nasdaq +0.25%, Dow -0.14%
By Johann M Cherian, Noel Randewich
March 25 (Reuters) - Wall Street stocks were mixed on
Tuesday, with Apple ( AAPL ) rising and Nvidia ( NVDA ) dipping as investors
assessed consumer sentiment data and bet on a more flexible
trade policy stance from the Trump administration next week.
U.S. President Donald Trump said on Monday that automobile
tariffs were coming soon, while suggesting that not all proposed
tariffs would be enforced in an April 2 announcement on which
Wall Street is focused.
"I don't expect that we'll get the clarity that the market
is hoping for, but investors are desperate for any sort of
clarity on this front, and to the extent they'll get some of it,
it's a huge day," said Ross Mayfield, an investment strategist
at Baird.
Weighed by worries that Trump's tariffs would fuel inflation
and hurt economic growth, the S&P 500 is down nearly 2% so far
in 2025, and it is on track for its first quarterly loss since
June 2023.
Ratings agency Moody's said on Tuesday that the United States'
fiscal strength is on track for a continued multiyear decline as
budget deficits widen and debt becomes less affordable.
Another report revealed a dip in consumer confidence, with the
index falling to 92.9 in March - its lowest since February 2021.
Apple ( AAPL ) rose 1.4%, helping keep the Nasdaq in
positive territory, while Nvidia ( NVDA ) slid 0.6%.
Tesla shares were near unchanged after a 12% rally the
previous day.
Tesla's market share in Europe continued to shrink in February
as sales of the all-electric car maker dropped for a second
month, even as EV registrations overall on the continent grew.
KB Home ( KBH ) fell 4% after the homebuilder cut its
full-year 2025 revenue forecast.
The S&P 500 was up 0.01% at 5,768.19 points.
The Nasdaq gained 0.25% to 18,233.50 points, while the Dow
Jones Industrial Average was down 0.14% at 42,521.73 points.
Of the 11 S&P 500 sector indexes, six rose, led by
communication services, up 1.1%, followed by a 0.28%
gain in energy.
Fed Governor Adriana Kugler said 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.
Among a cascade of economic indicators scheduled this week,
focus will be on the personal consumption expenditures price
index - the Fed's preferred inflation gauge - due on Friday.
CrowdStrike ( CRWD ) gained 3.3% after brokerage BTIG raised
its rating on the cybersecurity company to "buy" from "neutral."
Declining stocks outnumbered rising ones within the S&P 500
by a 1.4-to-one ratio.
The S&P 500 posted 11 new highs and 3 new lows; the Nasdaq
recorded 35 new highs and 129 new lows.