{"id":24631,"date":"2025-03-04T09:43:40","date_gmt":"2025-03-04T15:43:40","guid":{"rendered":"https:\/\/www.eoption.com\/mid-morning-look-march-04-2025\/"},"modified":"2025-03-04T09:43:40","modified_gmt":"2025-03-04T15:43:40","slug":"mid-morning-look-march-04-2025","status":"publish","type":"post","link":"https:\/\/www.eoption.com\/mid-morning-look-march-04-2025\/","title":{"rendered":"Mid-Morning Look: March 04, 2025"},"content":{"rendered":"\n
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Mid-Morning Look<\/span><\/b><\/p>\n

Tuesday, March 04, 2025<\/span><\/b><\/p>\n\n\n\n\n\n\n\n
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Index<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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%<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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DJ Industrials<\/span><\/b><\/p>\n<\/td>\n

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-588.20<\/span><\/p>\n<\/td>\n

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1.36%<\/span><\/p>\n<\/td>\n

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42,609<\/span><\/p>\n<\/td>\n<\/tr>\n

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S&P 500<\/span><\/b><\/p>\n<\/td>\n

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-79.81<\/span><\/p>\n<\/td>\n

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1.37%<\/span><\/p>\n<\/td>\n

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5,769<\/span><\/p>\n<\/td>\n<\/tr>\n

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Nasdaq<\/span><\/b><\/p>\n<\/td>\n

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-234.41<\/span><\/p>\n<\/td>\n

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1.30%<\/span><\/p>\n<\/td>\n

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18,110<\/span><\/p>\n<\/td>\n<\/tr>\n

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Russell 2000<\/span><\/b><\/p>\n<\/td>\n

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-49.95<\/span><\/p>\n<\/td>\n

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2.35%<\/span><\/p>\n<\/td>\n

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2,052<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/span><\/p>\n

 <\/p>\n

U.S. stock markets remain in “risk-off” sell-mode, as the S&P 500 drops to fresh 2025 lows, with the main focus for Wall Street and investors remaining the macro, tariff headlines, slowing US<\/span> growth as well as Ukraine, Israel. Trump’s 25% tariffs for Canada\/Mexico were implemented today and doubled 20% levy on China kicked in, sparking retaliation. Trade tensions weighed heavily in Europe, as the German DAX<\/span> and FTSE<\/span> 100 pulled back sharply overnight after hitting all-time highs the day prior, as Europe caught up with the US stock market downdraft on trade war fears. President Trump imposed 25% duties on Canadian and Mexican imports following a 30-day pause. He also implemented a second round of 10% duties on Chinese imports to increase the blanket tariffs on that nation to 20%. The moves drew fast retaliation from Canada, which brought in a sweeping package of counter-tariffs on US<\/span> products, some with immediate effect. Canada said it will impose retaliatory tariffs on US<\/span> imports from today, starting with 25% tariffs on C<\/span>$30b of US<\/span> imports, then 21 days later an additional C<\/span>$125b of US<\/span> imports and will remain in place until the US trade action is withdrawn. China imposed tariffs of up to 15% on a raft of U.S. farm products, including trading curbs, and blacklisted more than 20 U.S. companies in response to the US moves. Shares of financials, autos, homebuilders, materials, among the hardest hit sectors on trade ware concerns. Volatility has picked up, as there has been a 1% intraday decline at some point in the day in the QQQ every day now for 9 straight days (and fell below its 200dma support for the first time since August of $492.20), while the VIX jumps over 11% to 25.40 before paring gains. The S&P 500 index is down 7 for the last 9 days, falling more than 6% from recent all-time highs (and testing its 200dma support of 5,725). The Nasdaq drops further during that same stretch, down 10% from its record high on December 16th and fell more than 1,000 points alone from yesterday’s high print of 18,992.30. <\/p>\n

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Looking back a few weeks the slowing growth concerns\/inflation fears started with CPI<\/span>, retail sales, WMT<\/span> guidance and continued with a bearish ISM<\/span> yesterday (slower orders\/higher prices) while the Atlanta Fed GDP estimate was revised to (-2.8%) from +2.3% as recently as February 19th<\/sup>, a sharp downward revision following recent data points. Add on top of this high valuations for Wall Street and the unravelling of NVDA<\/span>\/AI<\/span> semi\/nuclear\/data center trade. Following the weaker growth data points, traders have added to bets on interest-rate cuts from the Federal Reserve amid concern about the impact of US<\/span> trade tariffs on global economic growth. Oil extended its slump on concerns over a bruising global trade war and OPEC<\/span>+ announced it will proceed with a planned output increase in April, reviving halted production. <\/p>\n

 <\/span><\/p>\n

 <\/span><\/p>\n\n\n\n\n\n\n\n\n\n
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Macro<\/span><\/p>\n<\/td>\n

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Up\/Down<\/span><\/p>\n<\/td>\n

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Last<\/span><\/p>\n<\/td>\n<\/tr>\n

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WTI Crude<\/span><\/b><\/p>\n<\/td>\n

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-1.01<\/span><\/p>\n<\/td>\n

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67.36<\/span><\/p>\n<\/td>\n<\/tr>\n

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Brent<\/span><\/b><\/p>\n<\/td>\n

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-1.53<\/span><\/p>\n<\/td>\n

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70.09<\/span><\/p>\n<\/td>\n<\/tr>\n

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Gold<\/span><\/b><\/p>\n<\/td>\n

\n

17.20<\/span><\/p>\n<\/td>\n

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2,918.30<\/span><\/p>\n<\/td>\n<\/tr>\n

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EUR\/USD<\/span><\/b><\/p>\n<\/td>\n

\n

0.0023<\/span><\/p>\n<\/td>\n

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1.0509<\/span><\/p>\n<\/td>\n<\/tr>\n

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JPY\/USD<\/span><\/b><\/p>\n<\/td>\n

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-1.02<\/span><\/p>\n<\/td>\n

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148.50<\/span><\/p>\n<\/td>\n<\/tr>\n

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10-Year Note<\/span><\/b><\/p>\n<\/td>\n

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-0.046<\/span><\/p>\n<\/td>\n

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4.134%<\/span><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

 <\/span><\/p>\n

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Sector Movers Today<\/p>\n