By Johann M Cherian and Sukriti Gupta
(Reuters) – Wall Street’s main indexes rose on Tuesday, with the blue-chip Dow at a more than one-month high, as investors assessed President Donald Trump’s executive orders after taking office and awaited his first move on trade policy.
Trump did not lay out any concrete plans on the universal tariffs and additional surcharges on close trade partners as previously promised, but said he was thinking about imposing duties on Canadian and Mexican goods as early as Feb. 1.
While investors remain cautious about Trump’s tariff policies, which could spark a global trade war and fresh inflation pressures, brokerage Goldman Sachs lowered its forecast for a universal tariff this year to 25% from about 40% seen in December.
“Trump is all about getting deals, and that is what he is seeking to do with his tariffs,” said Dan Boardman-Weston, CEO at BRI Wealth Management.
“So assuming that any government sits down with him and tries to work on a compromise, the tariffs will not be as severe as people were may be expecting.”
At 11: 46 a.m. ET the rose 396.33 points, or 0.91%, to 43,884.16, the S&P 500 gained 28.95 points, or 0.48%, to 6,025.61 and the gained 17.53 points, or 0.09%, to 19,647.73.
Nine of the 11 S&P 500 sectors rose, with industrials leading with a 1.8% increase. The equally-weighted added 1% and hit a one-month high.
The domestic