Trump’s 10% levy takes effect as US rebuilds tariff wall

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Here's a summary of the DailyEdge by TradeZero:

S&P 500

  • 6,837.75, down 71.76 (1.04%)

Dow Jones

  • 48,804.06, down 821.91 (1.66%)

NASDAQ

  • 22,627.27, down 258.79 (1.13%)

Breaking News

  • Donald Trump's new 10% global tariffs went into effect on Tuesday after the Supreme Court struck down his original duties.
  • The president signed an executive order for the 10% tax and threatened to raise it to 15%.
  • The White House is working on a formal order to increase the tariff rate to 15%, but the timeline is not finalized.

EdgeUp

  • 🌐 Dow, S&P 500, Nasdaq futures rise after tariffs and AI ignite Wall Street’s latest sell-off: US stock futures ticked higher, attempting to stabilize after Monday's steep losses driven by AI disruption fears and tariff uncertainty.
  • 💊 Novo Nordisk and United Biotechnology obesity drug trial shows 19.7% weight loss: A trial for Novo Nordisk and United Biotechnology's UBT251 obesity drug showed up to 19.7% mean weight loss after 24 weeks in Chinese patients.
  • 💳 American Express stock tumbles 7% as AI scare trade hits payments, what to watch before the open: American Express shares dropped 7.2% due to investor concerns over AI disruption and trade policy affecting consumer activity and transaction counts, not company-specific news.
  • 💵 PayPal stock price jumps on takeover chatter, what investors watch before the open: PayPal Holdings, Inc. stock jumped 5.8% on Monday following reports of early takeover interest. The company is at a critical juncture with a new CEO set to take over on March 1.
  • 🧬 Vir biotechnology announces strategic collaboration with Astellas: Vir Biotechnology partnered with Astellas Pharma to develop and commercialize VIR 5500 for prostate cancer, with a deal including $1.7 billion in upfront and milestone payments.
  • 🧠 Keysight shares jump in premarket after earnings beat and strong outlook: Keysight Technologies shares rose 16.8% in premarket trading after beating Q1 earnings and revenue estimates and issuing strong Q2 guidance.
  • 🤖 IBM stock is trending after cratering 13 percent and Claude maker Anthropic is the reason why here is what happened: IBM shares fell 13.18% after Anthropic's Claude Code tool was touted for modernizing legacy COBOL systems, a key area for IBM.

Market Rotation Is Building a Stronger Foundation

  • Market leadership is shifting from mega-cap tech to small caps and economically sensitive sectors.
  • Capital is moving into financials, industrials, and cyclicals, indicating broader market participation and economic resilience.
  • Traders should focus on where money is flowing, as expanding market breadth supports sustained upside.

Top 5 Movers In Early Pre-Market

  1. VIR (Vir Biotechnology, Inc.): +65.14%
  2. MYGN (Myriad Genetics, Inc.): +21.92%
  3. KEYS (Keysight Technologies, Inc.): +16.33%
  4. THR (Thermon Group Holdings, Inc.): +16.17%
  5. SGHC (Super Group (SGHC) Limited): +15.64%

Today’s Economic Dates

  • 8:00 AM ET: Chicago Fed President Austan Goolsbee speaks
  • 9:00 AM ET: S&P Case-Shiller home price index (Dec.)
  • 9:00 AM ET: Atlanta Fed President Raphael Bostic speaks

Yesterday's Biggest Movers

  1. ACLXM (Arcellx, Inc.): +77.43% – Gilead Sciences to acquire Arcellx for $115 per share plus CVR, an implied equity value of $7.8 billion.
  2. VNDA (Vanda Pharmaceuticals Inc.): +41.49% – FDA approved BYSANTI™ (milsaperidone) tablets for bipolar I disorder and schizophrenia.
  3. ASPS (Altisource Portfolio Solutions S.A.): +26.79% – No notable news.

Today’s Notable Earnings

  • IMOS (ChipMOS TECHNOLOGIES): Q4 2025, Before Market Open. Actual: $0.460.
  • WDAY (Workday): Q4 2026, After Market Close. Estimate: $1.800.
  • GDDY (GoDaddy): Q4 2025, After Market Close. Estimate: $1.580.

Parting Thoughts

  • "The purpose of margin of safety is to render the forecast unnecessary.” – Benjamin Graham

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