US stocks closed mixed on Tuesday as investors cautiously counted down to President Trump's highly anticipated "Liberation Day" rollout of sweeping new reciprocal tariffs .
The S&P 500 ( ^GSPC ) rose about 0.4%, extending the gains the benchmark index secured on Monday , while the Dow Jones Industrial Average ( ^DJI ) fell just below the flatline. The tech-heavy Nasdaq Composite ( ^IXIC ) rebounded to close up around 0.9%.
Markets are still in the dark as to what Trump will announce when he unveils his plans for like-for-like tariffs on Wednesday afternoon. The president's multiple U-turns in tariff hints have kept investors turning in circles, with stocks jumping or sinking as prospects for more limited duties ebbed and rose.
The big question is whether the US will impose a blanket reciprocal tariff on all trading partners, or will tailor the rate levied to specific countries. What is pretty certain is the effective US tariff rate is likely to reach its highest level since at least the 1940s, analysts say — putting pressure on a US economy already grappling with slowing growth and stubborn inflation.
Read more: The latest on Trump's tariffs
On the economic front, job openings hovered near a four-year low in February as the labor market showed continued signs of slow cooling. The data comes as investors closely watch for any signs that economic growth may be slowing further.
Meanwhile, separate data out Tuesday showed activity in the manufacturing sector slipped into contraction last month while costs continued to surge as suppliers weigh the impact of President Trump's tariff policy.
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