Stocks Edge Higher Despite Trade, Economic Jitters

Stocks are modestly higher Tuesday afternoon, as Wall Street shakes off a sluggish open amid a new wave of economic data. February job openings fell to 7.57 million -- slightly below expectations -- and the ISM manufacturing index dipped to 49 in March, signaling contraction. Investors are eyeing President Donald Trump’s tariff plan, which takes effect tomorrow. Plus, The Washington Post reported the Trump administration is now considering a sweeping 20% tariff on most U.S. imports.

Midday Market Stats April 012025


Johnson & Johnson (NYSE: JNJstock is seeing unusual options activity today, with 22,000 calls and 23,000 puts exchanged -- double times the average intraday volume. New positions are being opened at the leading weekly 4/4 155-strike put. This comes after a judge rejected the healthcare company’s $10 billion settlement offer over talc-related cancer claims. JNJ was last seen lower 4.6% at $158.20, gapping below its 40-day moving average for the first time since January, though it still holds a 9.1% year-to-date gain.

Progress Software Corp (Nasdaq: PRGS) stock is one of the IXIC's best performers today, last seen up 9.8% at $56.55, after the company announced better-than-expected fiscal first-quarter results. Progress shared profits of $1.31 per share, beating estimates by 27 cents, while revenue of $238 million also topped forecasts. Still, PRGS is down 13.1% so far in 2025.

Axsome Therapeutics Inc (Nasdaq: AXSM) is one of the worst performers on the IXIC today, last seen down 5.3% at $110.51. Today's drop comes after its PARADIGM Phase 3 trial of solriamfetol in major depressive disorder failed to meet its primary goal. AXSM still sports a 43.3% year-over-year lead, with its 80-day moving average stepping up to potentially contain its three-day slide.

AXSM Chart April 012025


More By This Author:

S&P 500, Nasdaq Snap Quarterly Win Streaks
Nasdaq Continues Selloff, Eyes Worst Month Since 2022
Dow Affirms Weekly Loss With 715-Point Drop

How did you like this article? Let us know so we can better customize your reading experience.

Comments

Leave a comment to automatically be entered into our contest to win a free Echo Show.
Or Sign in with