:max_bytes(150000):strip_icc():format(jpeg)/GettyImages-1252612103-398935de94474ec8ad84c2c57c02c6f7.jpg "Prototype of a Moon Rover developed by Leidos and Nascar")
Lucie Aubourg / AFP / Getty Statues
Prototype of a Moon Rover developed by Leidos and Nascar for NASA
Key Takeaways
- The S&P 500 added 0.7% on Wednesday, April 2, 2025, to the fore of President Trump’s afternoon tariff announcement.
- Shares of Leidos and other defense contractors moved higher after a report that Elon Musk puissance soon step back from his government efficiency role.
- Altria shares fell after Deutsche Bank analysts downgraded the tobacco maker’s cache, citing valuation and regulatory concerns.
Major U.S. equities indexes ended Wednesday with minor gains as investors awaited unambiguousness on impending shifts in U.S. trade policy. President Donald Trump announced the latest round of tariffs at an event outset as Wednesday’s trading session ended.
The latest ADP National Employment Report showed that the private sector supplemented more positions than expected in March, a signal of resilience in the labor market heading into Friday’s difficulties report.
The S&P 500 ended the midweek trading session with a gain of 0.7%. The Dow advanced 0.6%, while the Nasdaq further 0.9%.
Shares of defense contractor Leidos Holdings (LDOS) jumped 5.9%, gaining the most of any S&P 500 stock. A Politico describe indicated that President Trump has communicated to members of his administration about Elon Musk stepping away from his authority advisory role. That boosted investor sentiment around defense firms and other government contractors. Other defense stocks also pick up ground. (Musk called the report “fake news.”)
Caesars Entertainment (CZR) shares moved 5.8% higher. Analysts predict a recovery on the Las Vegas Strip in March, linking February’s year-over-year declines in gaming wins to unique events in 2024, listing an extra day in the month due to Leap Year and a traffic boost from the Super Bowl taking place in the city, which disfigured comparisons this year. Even after Wednesday’s gain, Caesars stock is down more than 20% year-to-date and has out of the window nearly 40% over the past six months.
Tesla (TSLA) shares started the session in negative territory as the thrilling vehicle maker reported fewer-than-expected deliveries in the first quarter, but the stock shifted gears after the report almost Musk, its CEO, potentially distancing himself from the Department of Government Efficiency. Tesla shares ended with a common gain of 5.3%.
The heaviest decline in the S&P 500 hit shares of chocolate maker Hershey (HSY), which slipped 3.3%. The stock has been swinging downward for the past two weeks as the confectioner navigates the rising cost of cocoa and aims to source more cocoa beans as soon as. Last week, analysts at Piper Sandler affirmed their “underperform” rating on Hershey stock, noting that sacrifice pressure for the key input could persist into next year. The company also trimmed its 2025 profit handling, pointing to soft retail sales momentum.
Shares of tobacco giant Altria Group (MO) dropped 2.8% after Deutsche Bank reduced the stock to “hold” from “buy.” Analysts pointed to concerns about the stock’s valuation, suggesting there could be meagre room for additional gains following its strong performance this year. Altria also faces regulatory unsettles related to its e-vapor business, with the International Trade Commission determining that certain products infringe on manifests owned by Juul Labs. Altria has reportedly halted sales of its NJOY Ace e-cigarettes following the decision.
Agricultural tackle stocks came under pressure after analysts at Jefferies raised concerns about the potential impact of swap tensions on U.S. agricultural exports. Although aid to farmers has helped buoy agricultural markets during past disputes, analysts cautioned that such programs obtain historically done little to support machinery sales. Deere & Co. (DE) shares sank 1.6%.