March 24 Market Summary

As of today, March 24, 2025, at 12:54 PM PDT, here’s a summary of the stock market based on the latest available information:

U.S. stock futures are showing positive momentum heading into the market open. This follows reports that President Donald Trump may scale back tariff plans, adopting a more targeted approach rather than broad hikes, which has boosted investor sentiment. S&P 500 futures are up over 1%, Nasdaq futures have gained 1.4%, and Dow Jones Industrial Average futures are higher by 0.9%. This comes after the S&P 500 snapped a four-week losing streak last Friday, suggesting a potential rebound from recent volatility driven by tariff concerns and economic uncertainty.

Last week, the market saw mixed performance. On Friday, March 21, the S&P 500 and Nasdaq rose, breaking their weekly losing streaks, with big tech stocks like Tesla (up 5.3%) leading gains. However, the major indexes had been under pressure earlier in March, with the S&P 500 entering correction territory (a 10% drop from its peak) on March 13 due to tariff fears and economic slowdown worries. Despite Friday’s rally, the indexes were still down for much of the month, with the Nasdaq down 10.4% year-to-date and the S&P 500 down 6.1% as of March 13.

Key factors influencing the market today include:

- **Tariff Optimism**: Trump’s comments about potentially easing tariffs on certain countries have lifted equities, particularly tech and consumer cyclical sectors.

- **Economic Data**: Investors are awaiting the March S&P Global Composite PMI report, due after the market open, which could provide insights into economic expansion (a reading above 50 indicates growth).

- **Crypto Surge**: Bitcoin is up 2% at nearly $88,000, reflecting a risk-on sentiment.

Specific stock movements to watch:

- **Super Micro Computer (SMCI)**: After a 7.8% surge on Friday due to positive analyst notes on AI demand, it’s steady in premarket trading.

- **23andMe (ME)**: Shares are plunging premarket after the company filed for bankruptcy and its CEO resigned.

The market appears to be in a cautiously optimistic mood today, driven by tariff relief hopes, though broader uncertainties around inflation, Fed policy, and economic growth linger. For real-time updates as the trading day progresses, financial news outlets like Bloomberg or Investopedia would provide the latest index values and sector performances post-open.