Nasdaq rises while Dow falls on latest Trump tariff talk
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Traders work on the floor of the New York Stock Exchange, in New York City.
PHOTO: REUTERS
NEW YORK - Gains in Nvidia ahead of earnings helped lift the Nasdaq on Feb 26, while the Dow retreated on White House talk of more tariffs, this time on the European Union.
Nvidia jumped 3.7 per cent ahead of its keenly anticipated earnings report, viewed as a key proxy for the artificial intelligence industry, which has underperformed other sectors so far in 2025.
Stocks have been under pressure in recent days due to lacklustre US economic data and worries about Mr Donald Trump’s policies. During a Cabinet meeting, the US president said he expects 25 per cent tariffs on the European Union.
The Dow Jones Industrial Average finished down 0.4 per cent at 43,433.12.
The broad-based S&P 500 was flat at 5,956.06, while the tech-rich Nasdaq Composite Index gained 0.3 per cent to 19,075.26.
“The market is a reflection of how people view the new administration and the uncertainty of its policies,” said Mr Art Hogan, of B. Riley Wealth.
Among individual companies, General Motors jumped 3.8 per cent after unveiling a new US$6 billion (S$8 billion) share repurchase authorisation and lifting its quarterly divided by three cents a share.
Eli Lilly gained 1.5 per cent after announcing it will build four additional new manufacturing sites in the United States in a commitment aimed at influencing upcoming Trump administration decisions on trade and other issues.
US shares of BP fell 1.7 per cent as it announced a major retreat from renewable energy in a pivot back to petroleum investments. AFP
