TPTP 04/29/25

Market Minute ⏱️ 4/29/25: Stocks Spin Wheels Amid Auto Deals

Mike Larson | Editor-in-Chief

Stocks are spinning their wheels in the early going after a mixed trading session on Monday. Crude oil is lower along with gold and long-term Treasuries, while the dollar is modestly higher.

The auto industry is in flux, threatened at first by massive Trump Administration tariffs...and now potentially getting breaks from many of them. The Wall Street Journal reported that a 25% levy on completed, foreign-made cars won’t be added on top of levies on steel and aluminum. Auto manufacturers will also get a break on foreign auto part tariffs in the form of partial rebates of the amounts paid in 2025 and 2026.

GM, UPS, AMZN (YTD % Change)

Still, the potential relief is coming a little late for companies like General Motors Co. (GM). The auto giant just yanked its earnings guidance and postponed $4 billion in planned share buybacks. The company originally forecast $11 to $12 in earnings per share this year, but said it needed to determine the exact impact of tariff and trade policy shifts on profit.

As for the shipping behemoth United Parcel Service Inc. (UPS), it managed to beat first-quarter estimates, with revenue of $21.5 billion (versus a $21.05 billion estimate) and EPS of $1.49 ($1.38). But that was about it for the good news.

Higher tariffs are cutting off the flow of cheap goods from China-based sellers like Temu and Shein. Plus, volume from Amazon.com Inc. (AMZN) is expected to decline – a big deal given that AMZN accounts for about 12% of the firm’s revenue. UPS said it was slashing 20,000 jobs to cut costs and cope with weaker shipping demand. It also plans to close down more than 70 owned or leased facilities.

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