Trump's tariff threat on European wines sends stocks lower despite good inflation and jobs reports
This may have overwhelmed good price and jobs numbers, as new reports showed wholesale inflation slowed more than expected in February and that both new and continuing unemployment claims last week were lower than the consensus estimates.
The Dow Jones Industrial Average was down about 65 points, or 0.2%, as of 10:30 a.m. in New York, with the S&P 500 falling by a similar percentage. The Nasdaq $NDAQ Composite slid about 0.7%. All three have narrowed earlier declines. Tesla $TSLA (TSLA) shares fell about 3.3%.
Here are some stocks to watch today:
Dollar General $DG (DG) stock gained 7% after the discount retailer projected comparable sales — revenue excluding new outlets — would rise as much 2.2% this year, compared with the consensus estimate of 1.8%, according to FactSet.
SentinelOne (S) stock declined 3.5% after the cybersecurity company’s projection for fiscal first-quarter revenue missed expectations. Executives told analysts that it plans to stop selling “Deception” products that came with its Attivo purchase, Investors Business Daily reported.
Taiwan Semiconductor Manufacturing Co. shares fell 2.7% after the stock dropped 2.3% in trading in Taipei on Thursday. The chip foundry has declined almost 10% over the past 12 sessions as foreign investors unloaded shares, Bloomberg News reported, citing exchange data.
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