Markets appear to be settling a day after a broad rally was fueled by hopes that the Trump administration may take a more targeted approach to tariffs, according to the Associated Press. Futures for the S&P 500, the Nasdaq and the Dow Jones Industrial Average all rose less than 0.1% before Tuesday’s opening bell.
KB Homes slid 8.6% after it fell significantly short of Wall Street’s first quarter sales and profit forecasts. Already mired in a slump, homebuilders are now faced with potentially rising costs due to tariffs, which they will have to pass on to buyers. KB’s results and grim forecast dragged a host of other homebuilders’ shares down with it, including Toll Brothers, LGI and Lennar.
Tesla shares ticked up 1.3% despite more grim sales figures from Europe.
Wall Street has several economic updates this week. The Conference Board will release its consumer confidence survey for March on Tuesday. On Friday, the U.S. government will release the personal consumption expenditures price index for February, a measure of inflation closely watched by the Federal Reserve.
