Last Updated: 4:04 PM EST
Stock indices finished today’s trading session in the red. The Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) fell 1.83%, 1.12%, and 0.31%, respectively. Interestingly, new data shows that U.S. durable goods orders rose for the second month in a row, which demonstrates that there is still some strength in the manufacturing sector despite growing concerns from business leaders and the Federal Reserve.
Orders for long-lasting manufactured goods increased by 0.9% in February, beating expectations for a decline. Even when excluding the often-volatile transportation sector, new orders increased by 0.7%. Shipments of durable goods also jumped 1.2%.
However, the economic outlook is becoming cloudier. Although Federal Reserve Bank of Minneapolis President Neel Kashkari noted that inflation has come down, he warned that uncertainty from new trade policies—especially upcoming tariffs under the Trump administration—is starting to weigh on both consumer and business confidence.
Kashkari said the recent drop in consumer sentiment is the most dramatic shift he’s seen since the early days of the COVID-19 pandemic and suggested that fear of tariffs may be hitting confidence harder than the tariffs themselves.
That uncertainty is also being felt in the corporate world. A new survey of chief financial officers by the Richmond and Atlanta Federal Reserve banks, along with Duke University, found that business optimism dropped in the first quarter.
The average confidence level among CFOs fell from 66 to 62.1, with those in manufacturing—one of the sectors most affected by tariffs—reporting a sharper decline. Many CFOs now expect slower economic growth and rising prices in 2025, highlighting how trade policies are already reshaping business expectations.
First Published: 4:58 AM EST
U.S. stock futures were stable early Wednesday, following a third consecutive day of market gains. Futures on the Nasdaq 100 (NDX), the Dow Jones Industrial Average (DJIA), and the S&P 500 (SPX) were down 0.13%, 0.06%, and 0.09%, respectively, at 4:51 a.m. EST, March 26.
In Tuesday’s trading session, the S&P 500, the Dow Jones, and the Nasdaq Composite (NDAQ) closed higher by 0.16%, 0.01%, and 0.46%, respectively. This upside came despite a decline in U.S. consumer confidence, with future expectations falling to a 12-year low.
Investors are closely monitoring data as tariff concerns raise fears of inflation and slower growth. This week’s key focus is Friday’s release of the Federal Reserve’s preferred inflation measure, the Personal Consumption Expenditures (PCE) report.
Today, February’s preliminary Durable Goods Order data is set for release, which will provide insights into the health of the manufacturing sector.
Looking ahead, investors are awaiting earnings reports from Chewy (CHWY), Dollar Tree (DLTR), Cintas (CI), Petco Health and Wellness (WOOF), and Paychex (PAYX).
In major corporate news, GameStop (GME) stock surged 7% in the extended trading session after it disclosed investing corporate cash reserves in Bitcoin (BTC), mirroring a similar strategy employed by Strategy (MSTR).
At the time of writing, the U.S. 10-year treasury yield was up, floating near 4.319%. Simultaneously, WTI crude oil futures are trending higher, hovering near $69.28 per barrel as of the last check.
Elsewhere, European indices opened lower today as traders evaluated the impact of U.S. President Trump’s trade policies.
Asia-Pacific Markets Traded Mixed on Wednesday
Asia-Pacific indices were mixed today on hopes of a softer stance on Trump’s tariffs. Investors also reviewed the Bank of Japan’s January minutes, hinting at possible rate hikes.
At the same time, Hong Kong’s Hang Seng Index was up 0.6%. Further, Japan’s Nikkei and Topix indices were up 0.65% and 0.55%, respectively. However, China’s Shanghai Composite and Shenzhen Component indices declined 0.04% and 0.05%, respectively.
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