U.S. stocks started on a down note Wednesday as traders tried to make sense of the president’s latest tariff threats while eagerly awaiting the Fed minutes for clues on what’s next for interest rates…
Which likely won’t be much for the time being because the Federal Reserve has signaled it plans to stand pat.
It feels like the markets are in a bit of a holding pattern right now as everyone’s trying to figure out what Trump’s tariff threats will actually mean for the economy, and if he’ll even go through with many of them.
But here’s the thing. Stocks have been surprisingly upbeat despite all the trade drama. I mean, the S&P 500 just hit a new all-time high on Tuesday!
That makes me think stocks might be able to weather this tariff storm better than some folks expect. Trump dropped another bombshell late Tuesday, saying he’s planning to slap a 25% tariff on foreign cars, computer chips and drugs starting April 2.
It’s a bold move, but the markets don’t seem to be panicking… at least not yet.
Hess Corp. (HES) Moving Higher
Hess (HES) has been on fire lately, and for good reason…
Oil prices have been holding strong, and HES is cashing in big time. The stock has been riding a solid uptrend, fueled by strong earnings and its lucrative deal with Chevron.
Unlike some energy names that have struggled with volatility, HES has been a rockstar, pushing higher while still rewarding shareholders. And with energy demand staying high, there’s a good case that HES still has room to run.
At the same time, our Newton Indicator is in bullish mode. After moving up but staying yellow, it’s just printed a green bar. This indicates it might be ready to make another push upward like it did the last time Newton turned green.
Here’s a look at the chart…
Sherwin-Williams (SHW) Falling
On the flip side, Sherwin-Williams (SHW) has been looking bearish.
Sherwin-Williams (SHW) just can’t seem to catch a break lately. While the market keeps pushing higher, SHW has been stuck in the mud, weighed down by weaker housing demand, rising costs and shrinking margins.
It had a great run in the past, but right now, it’s struggling to find momentum. If you’ve been waiting for a rebound, it’s been frustrating to watch — proof that not all dividend stocks are smooth sailing, even in a strong market.
Additionally, after attempting to break out on a switch to green back in January, the Newton Indicator has just gone from yellow to red. It looks ready to roll over and Newton is indicating there’s more bearishness to come for SHW.
So what’s next?
All eyes are on those Fed minutes. Investors are hoping to get some insight into where interest rates might be headed, if nowhere for the time being.
It’s a lot to digest, but the resilience we’ve seen in stocks lately is pretty encouraging.
We’ll have to see if it holds up as more details on these tariffs come to light.
Graham Lindman
Graham Lindman Trading
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