Stocks Stabilize Amid Falling Oil Prices and Tariff Uncertainty

The stock market is stabilizing after yesterday's sharp sell-off, with support coming from falling oil prices. The S&P 500 Index and Dow Jones Industrial Average are both up slightly, while the Nasdaq 100 Index is down a small amount.

Oil prices fell back today as tankers continued to move through the Red Sea despite Houthi threats. WTI crude oil prices are down over -2% today, reversing part of Thursday's +6.17% rally.

The new round of tariffs announced by President Trump is also causing caution in the market. The tariffs range from 10% to 12.5% on 60 nations and are based on trade authority under Section 301 of the Trade Act of 1974 tied to forced labor in supply chains.

Despite the caution, strong Q2 earnings are expected to be a bullish factor for stocks. Forecasts compiled by Bloomberg Intelligence suggest Q2 earnings may increase by +23%, close to Q1's blowout earnings of +30%.