Stock Market Freezes After Latest Trump Tariff News

Market action is mixed on Wednesday morning as investors wait for more tariff news. Commerce Secretary Lutnick has indicated there might be something new from Canada and Mexico, but the situation is very murky and is likely to be uncertain even if the deal is changed.

Economic data is also mixed with ADP Employment, which came in at 77,000 versus 130,000. ISM Services was better than anticipated, but the prices paid were higher than expectations. Interest rates are slightly high on the news.

Market breadth is two-to-one positive, but major indices and the Magnificent Seven are flat. There isn’t much movement as market players are waiting to see what happens next on the tariff issues.

I’m managing positions and trying to find some new buys. My cash levels are up as I’ve made some sales but have not been able to find anything that I want to really load. My biggest recent purchase is AST Space Mobile (ASTS), which is doing quite well, but I am taking a small amount of partial profits into strength. I will build this position up as the chart pattern evolves.

In an environment like this, I tend to have a much shorter time frame. I’m not looking to make big, new, longer-term investments because volatility is too high. I’ll take smaller initial buys, but I don’t want to press until there is better price action.

Too many traders want to stay active all the time and then end up forcing trades in the wrong market conditions. You have to be willing to sit and wait for good setups, and now is one of those times for me. Some traders may find this to be a good market for shorting, but my preference is for day trading rather than position shorts.

I’m optimistic about the opportunities that will eventually develop, but I’m doing very little right now.

At the time of publication, DePorre was long ASTS.