U.S. stocks are swinging wildly between gains and losses on Monday as investors closely monitor any signs of a shift in President Trump’s fast-moving tariff strategy. Markets briefly turned positive after a headline suggested Trump might delay the tariffs for 90 days. But when a White House-linked account on X labeled the headline as “fake news,” stocks fell again — only to continue alternating between gains and losses. Over the weekend, Trump doubled down on his stance by telling reporters, “Sometimes you have to take medicine to fix something,” indicating no plans to back off.
Investors also reacted to JPMorgan Chase (JPM) CEO Jamie Dimon’s comments that the tariffs might not lead to a recession, though he warned they could still hurt economic growth and increase inflation. Despite this, the stock market remains on shaky ground, as China has already retaliated with tariffs of its own, and the European Union is preparing to follow suit.
Is SPY a Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on the SPDR S&P 500 ETF Trust (SPY) based on 408 Buys, 88 Holds, and eight Sells assigned in the past three months, as indicated by the graphic below. Furthermore, the average SPY price target of $682.73 per share implies 35.7% upside potential.
