A Rebound By The Hair Of A Tariff

2025-03-24 20:30:00 ET

Summary

• This week began in a buoyant mood, with stocks finishing near their best levels today, as though the last month’s malaise had been a misunderstanding.
• The S&P 500 trimmed its existential crisis to a mere 6% drop from last month’s high, and small caps joined the party with greater enthusiasm.
• Analysts warn that ongoing trade theatrics could weigh on Q1 and full-year earnings, especially for companies that sell to places not named “America”.

This week began in a buoyant mood, with stocks finishing near their best levels today, as though the last month’s malaise had been a misunderstanding. The S&P 500 trimmed its existential crisis to a mere 6% drop from last month’s high, and small caps joined the party with greater enthusiasm, suggesting that even the market’s wallflowers were back on the dance floor....

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