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Stock slip on April tariffs looming in
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Tesla shows resilience, as Musk calls employees to hold the stock
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Lockheed Martin and Boeing in the race for government jet contract
Wall Street is giving up on recent two days of gains, as investors keep digesting mixed signals from the Federal Reserve and pricing in the potential consequences of upcoming reciprocal tariffs, effective on April 2nd. All major indices kicked off Friday’s trading in the red: S&P500, DJIA and Nasdaq are down 0.8%, while small-cap Russell 2000 slips 1.1%.
Even with growing pessimism, the confidence in equities is still far from being completely dissolved. Stock funds received their largest weekly inflows in 2025, with Bank of America noting that many investors still believe the trade war may not derail the broader economy or the stock market, indicating an existence resilience despite the surrounding challenges.
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A sea of red on Wall Street today. Source: xStation5
US500 (D1)
After a strong opening yesterday, the S&P500 is now facing a notable correction, as market sentiment continues to trend downward amid high uncertainty and declining consumer and business confidence. However, following a month of consecutive losses, the index is on track to finish this week’s trading in positive territory.
Source: xStation5
Corporate news:
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Alnylam (ALNY.US) gains expanded FDA approval for Amvuttra to treat ATTR-CM, challenging Pfizer’s $5 billion Vyndamax franchise. The move boosts Alnylam’s growth potential in an underdiagnosed market, where 80% of cases go undetected, creating opportunities for multiple competitors. BridgeBio’s recent entry adds further competition, making the ATTR-CM space increasingly contested among biotech firms. The stock has rallied 8.6%.
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FedEx (FDX.US) shares plummet 10% after cutting its profit outlook for the third straight quarter, citing inflation and weak demand. Adjusted earnings now range from $18 to $18.60 per share, below estimates. The company faces pressure from industrial weakness, tariff uncertainties, and shifting consumer spending. FedEx plans to spin off its freight division to streamline operations.
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Lockheed Martin (LMT.US) and Boeing (BA.US) await the White House’s decision on the Next-Gen Air Dominance fighter jet contract. The winner will secure a key role in the $16 billion program to replace the F-22, with an announcement expected Friday. The decision comes amid concerns over China’s advances in sixth-generation fighter technology and cost-cutting scrutiny from Elon Musk. Lockheed Martin stock is up 1.6%.
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Nike (NKE.US) stock drops 7% premarket as its turnaround faces hurdles from inventory clearance and tariffs. CEO Elliott Hill is refocusing on sports and retail partnerships, but weak China sales and falling digital traffic add to challenges despite signs of progress. Analysts see a long, volatile recovery ahead, with new product launches and marketing shifts playing a key role. The stock is down 8.8%.
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Tesla’s (TSLA.US) CEO Elon Musk addressed employees in an all-hands meeting, urging them to “hang on” to their shares and reassuring them about Tesla’s long-term vision. Tesla’s stock has plunged more than 50% in just three months, marking one of the most dramatic declines in the company’s history. The drop comes amid production slowdowns, political backlash, and uncertainty over the company’s future product lineup. The stock gains 2.3% for now.
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