Stock Market Whiplash: Tariff Turmoil and Apple’s Mixed Earnings

1. Markets Rally, Then Wobble on Trump’s Tariff Threats

Stocks were on track for solid gains until late-day headlines from the White House triggered a brief selloff. President Donald Trump announced plans to impose 25% tariffs on imports from Canada and Mexico starting Feb. 1, rattling investors. Markets dipped sharply around 3:30 p.m. ET but recovered after Trump suggested that certain imports, including Canadian oil, might be exempt. The Dow rose 0.4%, the $.SPX(.SPX)$ gained 0.5%, and the $.IXIC(.IXIC)$ inched up 0.3%. $NVIDIA(NVDA)$ $Technology Select Sector SPDR Fund(XLK)$

XLK

2. GDP Growth Slows, but Consumer Spending Stays Strong

Fourth-quarter U.S. GDP growth came in at 2.3%, slightly below expectations of 2.4%, mainly due to inventory declines. Personal consumption remained resilient, reinforcing hopes for continued economic expansion. Strong corporate earnings alongside steady consumer demand suggest that equity markets may find support in the coming months.

3. Apple’s Earnings: Strength in Services, Weakness in China

$AAPL

$Apple(AAPL)$ reported a mixed quarter, with iPhone sales falling 1% to $69.1 billion—missing expectations of $70.7 billion. However, its Mac, iPad, and services divisions posted double-digit growth, rising 16%, 15%, and 14%, respectively. Japan and Europe saw strong revenue increases, but Greater China sales fell 11%, signaling ongoing demand challenges in the region.

4. What to Watch Next

Tariffs

Investors will focus on further tariff clarifications from the Trump administration and the December personal consumption expenditures (PCE) price index—a key inflation metric for the Federal Reserve. Apple’s earnings outlook could also influence tech sentiment.

Conclusion

Despite late-session volatility, markets held onto gains as investors weighed economic data and earnings against fresh trade uncertainty. With key inflation data and policy developments ahead, volatility is likely to persist.

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