LIVE MARKETS-Round and round the S&P 500 goes, where tariffs stop nobody knows

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ROUND AND ROUND THE S&P 500 GOES, WHERE TARIFFS STOP NOBODY KNOWS

U.S. stock indexes struggled for direction in topsy-turvy trade on Tuesday as investors await their fortune in the form of details on fresh U.S. tariffs set to be announced on Wednesday.

Indeed, after sliding about 1% into its mid-morning trough, the S&P 500 index .SPX then rallied about 1.7% off that low into an early afternoon high. After deflating more than 1% off that intraday high, the benchmark index then saw some late strength. After all of this fooling around, the S&P 500 finally closed with a modest gain of about 0.4% for the day.

White House aides have drafted plans for 20% tariffs on most goods imported to the United States, the Washington Post reported on Tuesday. Trump is due to unveil his tariff plan at 4 p.m. ET at an event in the Rose Garden on Wednesday.

Most S&P 500 sectors ended higher with consumer discretionary .SPLRCD, up around 1.1%, posting the biggest rise. Healthcare .SPXHC, with about a 1.8% loss, was the weakest group.

The Mag 7 MAGS.K outperformed, finishing up 1.8%, while bank indexes .SPXBK, .KRX both lost ~0.7%, putting them among weaker groups under the surface.

Meanwhile, March ADP national employment is due out at 08:15 a.m. ET on Wednesday. The expectation is for 115k job additions vs 77k last month.

Here is a snapshot of where markets stood just shortly after 4 p.m. ET on Tuesday:

(Terence Gabriel)

FOR TUESDAY'S EARLIER LIVE MARKETS POSTS:

IPHONE SELL-THROUGH RATE DIPS IN FEB AS DEMAND REMAINS WEAK, UBS SAYS - CLICK HERE

AFTER FORECAST CUTS, GOLDMAN’S KOSTIN ON WHERE TO INVEST - CLICK HERE

EMERGING MARKET CURRENCIES BRACE FOR TARIFF SHOCK - CLICK HERE

BOFA’S SELL SIDE INDICATOR FALLS, BUT MORE BULLISH THAN BEARISH - CLICK HERE

PRANK-FREE DATA: JOB OPENINGS SLOW, FACTORIES CONTRACT, CONSTRUCTION REBOUNDS - CLICK HERE

FROM TESLA TO TOURISM: HOW GLOBAL BOYCOTTS, TRAVEL DROP COULD HURT US GDP GROWTH - CLICK HERE

VOLTAGE RISE: GERMANY'S FISCAL BOOST TO CRANK UP ITS POWER SECTOR - CLICK HERE

U.S. STOCKS MIXED EARLY TUESDAY, BRACE FOR TRUMP TARIFFS- CLICK HERE

AT THE QUARTER POLE, LOW VOLATILITY SETS THE PACE - CLICK HERE

UK TO AVOID RECIPROCAL TARIFFS BUT GROWTH TO FALL ANYWAY - GOLDMAN - CLICK HERE

LIBERATION DAY QUESTIONS: WHO AND WHAT? HOW HIGH? HOW LONG? - CLICK HERE

STOXX REBOUNDS FROM NEAR 2-MONTH LOWS - CLICK HERE

BEFORE THE BELL: EUROPE EYES TENTATIVE BOUNCE AS Q2 STARTS - CLICK HERE

A DEEP BREATH BEFORE 'LIBERATION DAY' - CLICK HERE