Good evening. The S&P 500 ended the week down -1.5%. Here are the top stocks to watch this week, and what’s moving the markets.

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Top Stocks & Setups To Watch This Week

• $RBLX
Break below 59.14 🎯 55.98 & 52.65
• $SHOP
Break below 92.91 🎯 89.10 & 85.55
• $META
Break above 602.58 🎯 626.31 & 650.56
• $TSLA
Break above 276.10 🎯 291.85 & 310.37
• $NVDA
Break below 108.76 🎯 103.69 & 97.40
• $MSFT
Break below 376.91 🎯 369.01 & 361.07

KV’s S&P 500 Levels

Weekly Market Recap

Auto Tariff Impact

The U.S. administration imposed a 25% tariff on imported autos, intensifying trade tensions ahead of a broader reciprocal tariff plan expected on April 2. The new tariff targets fully assembled vehicles and will expand to auto parts, affecting both domestic and international markets. While this could boost U.S. production over time, near-term impacts include higher consumer prices, sector disruptions, and market volatility.

More Tariffs Incoming

Beyond auto tariffs, the administration plans to announce a framework for reciprocal tariffs, adjusting levies country-by-country based on existing trade barriers. This approach may exempt countries with low tariffs on U.S. goods but still poses risks of retaliatory actions from major partners. The uncertainty is elevating market volatility, though upcoming announcements could offer some clarity even if full resolution takes months.

Fundamentals Remain Resilient

Despite these headwinds, fundamentals remain intact. Corporate profits are still growing, unemployment is low, and the Fed continues to signal two potential rate cuts for 2025. Moreover, prospects for pro-growth policies, including deregulation and tax cuts, could help offset trade-related pressures. Credit conditions also remain healthy, supporting the case for ongoing economic expansion despite rising market anxiety over tariffs.

Coming Up…

Important economic releases this week include the ISM Manufacturing PMI and the nonfarm payrolls report. No important earnings releases are expected to be reported this week.

Key Headlines We’ve Been Reading

This is what’s caught our eye over the past 7 days.

• Jack Ma-backed Ant touts AI breakthrough using Chinese chips.
• Trump’s threat of ‘Secondary Tariffs’ invents new trade tool.
• Bankrupt 23andMe’s DNA data gets sale nod as concerns linger.
• Trump faces global backlash over chip curbs that could reshape tech dominance.
• Macron says a proposed European force for Ukraine could 'respond' if attacked by Russia.

Trading Quote Of The Week

That was it for this week!

Stay safe,
KV 👋

Week #13 | March 30, 2025

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