US Equities Markets End Lower Wednesday as Auto Tariffs Loom

MT Newswires Live
03/27

US benchmark equity indexes ended lower Wednesday with President Donald Trump set to announce new tariffs on auto imports.

* The Trump administration may also impose tariffs on copper imports in the coming weeks, well ahead of a deadline for a decision, Bloomberg reported.

* US durable goods orders unexpectedly increased last month as gains in defense aircraft and motor vehicles drove the transportation equipment component higher, government data showed.

* "The underlying trend (in durable goods orders) has turned up recently, improving prospects for the struggling factory sector," BMO Capital Markets said.

* May West Texas Intermediate crude oil closed up $0.69 to settle at $69.69 a barrel, while May Brent crude, the global benchmark, was last seen up $0.78 to $73.80 after a report showed U.S. inventories fell more than expected last week. Concerns over supply, strained by U.S. sanctions on Iran and Venezuela, also supported prices.

* Cintas (CTAS) shares jumped 5.8% as the uniform supplier raised its full-year earnings outlook after fiscal Q3 results topped Wall Street's views.

* Nvidia (NVDA) is moving closer to a deal to buy Lepton AI, a startup that rents out servers powered by Nvidia's artificial intelligence chips, The Information reported. Nvidia shares fell 5.7%.

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