The Dow Jones Industrial Average and other major stock indexes traded higher Wednesday even after the European Union and China retaliated with tariff hikes on U.S. goods. In the process, three big players reversed course and ventured into positive ground on the stock market today: Apple, Nvidia and Tesla.
After the opening bell, the Dow Jones Industrial Average reversed from early losses to rise 0.5% The S&P 500 advanced 0.9%. The tech-heavy Nasdaq composite rallied 1.6%. All three were sharply off their early morning lows.
The 10-year Treasury yield shot up 13 basis points to 4.39% early Wednesday. And oil prices tumbled further, as West Texas Intermediate futures traded near $57 per barrel.
Among exchange traded funds, the Invesco QQQ Trust climbed by 1.6%, while the SPDR S&P 500 ETF gained 0.9% after the open.
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Trump Tariffs: European Union, China Retaliate
At midnight, President Donald Trump's tariffs ratcheted up for trading partners that the administration says abuse their relationship with the U.S. With that next step, the across-the-board tariffs imposed on China this year jumped from 30% to 54%. The tariff rate jumped from 10% to 20% for the European Union, 24% for Japan, 46% for Vietnam, 26% for South Korea, 32% for Taiwan and 27% for India.
Trump also announced that he imposed an additional 50% tariff on Chinese imports, since Beijing didn't rescind its 34% tariff matching Trump's 34% reciprocal tariff.
In response Wednesday, China retaliated by hiking its tariffs on U.S. goods even further, to 84%. It also added more U.S. firms to its unreliable list.
Meanwhile, the European Union voted early Wednesday to approve its first set of retaliatory measures. Those tariffs are set to go into effect on April 15.
In other economic news, the minutes from the Federal Reserve's latest policy meeting are due out at 2 p.m. ET. The minutes are expected to provide insight into Fed Chair Jerome Powell's thinking, as well as that of other Fed policymakers, on the path of future interest rates.
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IPhone maker Apple climbed 3.1% Wednesday morning. Its shares sold off another 5% Tuesday, closing at their lowest level since May.
Tesla stock rallied 4.2% Wednesday. But shares of the Elon Musk-led company are nearly 55% off their record high of 488.54, reached on Dec. 18.
Lastly, Nvidia stock added 3.9% in Wednesday's trading. The artificial intelligence giant had been in danger of extending Tuesday's slide.
Elsewhere, Delta Air Lines climbed 7% after topping earnings and sales estimates in the first quarter. The company pulled its full-year 2025 outlook due to the ongoing trade uncertainty.
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Dow Jones, Major Indexes Slide
Blue chips on the Dow Jones Industrial Average declined 0.8%, or 320 points on Tuesday, while the S&P 500 fell 1.6% and the Nasdaq sold off 2.2%. All three ended near their session lows.
Following big losses in recent sessions, now is an important time to read IBD's The Big Picture column for how to handle the current market and to track the updated exposure level.
Among the best companies to watch in the current stock market are Ollie's Bargain Outlet, Spotify Technologies and TJX.
Along with Apple and Nvidia, Dow Jones components making notable moves this week were Amazon.com, Microsoft and UnitedHealth Group.
Check out IBD MarketSurge's "Breaking Out Today" list for top growth stocks that are moving above correct buy points. Check for potential breakouts on the "Near Pivot" list. To find additional stock ideas, check IBD Stock Lists like IBD 50, Big Cap 20 and Stocks Near A Buy Zone.
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Dow Jones Stocks: UnitedHealth Hits Buy Point
Shares of Dow Jones component UnitedHealth gained 1.5% Wednesday. The stock surged more than 5% Tuesday, topping a 553.91 buy point, according to MarketSurge chart analysis.
Outside the Dow, Ollie's Bargain Outlet extended a losing streak to four sessions, further below a 115.42 buy point in a double-bottom base. Shares dropped 2.1% Wednesday.
Music streaming giant Spotify has formed a double-bottom base with a 621.20 buy point. Spotify stock gained 1% Wednesday.
Finally, off-price retailer TJX is attempting to clear a 127.58 buy point in a double bottom but has fallen sharply in the stock market sell-off. TJX stock added 0.5% in early morning trading.
Keep in mind that now is not a good time to buy stocks with the Nasdaq in a bear market. IBD currently recommends 0% to 20% stock exposure under current conditions.
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Stock Market: Companies To Watch
These are four stocks in or near buy zones in Wednesday's stock market, including a Dow Jones leader.
| Company Name | Symbol | Correct Buy Point | Type Of Buy Point |
|---|---|---|---|
| UnitedHealth | 553.91 | Double bottom | |
| Spotify | 621.20 | Cup with handle | |
| TJX | 127.58 | Double bottom | |
| Ollie's Bargain Outlet | 115.42 | Double bottom |
Source: IBD Data as of April 8
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Dow Jones Leaders: Amazon, Microsoft
Magnificent Seven stocks are back at recent lows following heavy selling pressure over the last few sessions. Dow Jones component Amazon hit a fresh recent low Monday before reversing higher. And Amazon stock rose 1.7% early Wednesday.
Finally, software giant Microsoft rose 1.6% Wednesday. Shares reached a new 52-week low Monday.
Be sure to follow Scott Lehtonen on X at @IBD_SLehtonen for more on growth stocks, the Dow Jones Industrial Average and the stock market today.
