Stock market | April 11 highlights: Wall Street opens in red as tariff uncertainty remains

The S&P 500 was down 0.1% in morning trading after veering between earlier gains and losses. The Dow Jones Industrial Average was down 80 points, or 0.2%, as of 10:35 a.m. Eastern time, and the Nasdaq composite was 0.1% lower.

Canada's main stock index advanced on Friday, led by gains in materials stocks, following strong earnings from US big banks, including JPMorgan, while investors treaded carefully amidst heightened U.S.-China trade tensions.

Toronto Stock Exchange's S&P/TSX Composite Index rose by 0.7% to 23,167.43 points, maintaining its momentum towards a weekly gain, provided the uptick sustains.

U.S. stocks are shaky Friday as Wall Street’s monstrous week heads toward its close, while the rising price of gold, falling value of the U.S. dollar and moves in other financial markets indicate more fear as President Donald Trump’s trade war with China escalates even further.

The S&P 500 was down 0.4% in early trading. It’s coming off a sharp slide that erased a big chunk of its historic gains from the middle of the week, which came after Trump paused tariffs on many countries outside of China. The Dow Jones Industrial Average was down 232 points, or 0.6%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 0.1% lower.

Wall Street's main indexes were set to open higher on Friday following earnings from big banks including JPMorgan, while markets also assessed the latest escalation in the trade war with China, increasing its tariffs on U.S. imports to 125%, Reuters reported.

JPMorgan Chase gained 1% before the bell after beating first-quarter profit estimates. Wells Fargo slipped about 1% despite beating quarterly earnings estimates.

Morgan Stanley edged 0.6% lower even as it beat quarterly profit estimates.

JPMorgan’s net income rose 9% to $14.6 billion in the first quarter and the New York bank beat Wall Street’s profit and revenue targets, but it's chief executive warned of global economic uncertainties ahead due to President Donald Trump’s ongoing trade war and other geopolitical tensions.

CEO Jamie Dimon said a strong performance by the bank’s markets division helped lift it to another strong quarter, but added trade tensions to his list of potential negatives facing the bank and broader economy.

JPMorgan’s earnings per share rose to $5.07 per share from $4.44 a year ago. The result beat Wall Street profit projections of $4.63 a share, according to the data firm FactSet. Total managed revenue hit $46 billion, up from the $41.9 billion a year ago. Wall Street was expecting revenue of $44 billion.

US monthly producer prices unexpectedly fell in March amid a sharp decline in the cost of energy products, but tariffs on imports are expected to drive inflation higher in the coming months.

The producer price index for final demand dropped 0.4% last month after an upwardly revised 0.1% gain in February, the Labor Department's Bureau of Labor Statistics said on Friday.

US President Donald Trump is casting his latest tariff plan as a strategic win. Markets and business leaders only see more chaos ahead.

US Stock plunged on Thursday, as anxiety spiked among investors again worried an extended period of trade hostility could devastate the global economy, Bloomberg reported. That washed away a half-day of euphoria on Wall Street on Wednesday after Trump paused higher tariffs on dozens of nations.

Stock market LIVE updates: FPIs remained net sellers in March 2025, with outflows of $402 million, Bajaj Broking said.

• $3,446 million worth of FPI selling occurred in the first half of the month, $3,044 million worth of FPI buying happened in the second half
• Only four sectors saw meaningful FPI buying during March 2025.

Stock market LIVE updates: In the Sensex, the following two stocks closed in the red.

1) Asian Paints was down by 0.76%, reaching ₹2,391.50.

2) Tata Consultancy Services was down by 0.43%, hitting ₹3,232.30.

Stock market LIVE updates: In the Sensex, the following stocks rose the most on close.

1) Tata Steel was up by 4.91%, reaching ₹133.45.

2) Power Grid Corporation of India was up by 3.72%, reaching ₹304.20.

3) NTPC was up by 3.25%, hitting ₹360.10.

4) Kotak Mahindra Bank was up by 2.85%, hitting ₹2,111.50.

5) Reliance Industries was up by 2.84%, hitting ₹1,219.30.

Stock market LIVE updates: Three of the Nifty 50 stocks were in the red today. They are as follows.

1) Asian Paints was down by 0.53%, reaching ₹2,393.

2) Apollo Hospitals Enterprise was down by 0.62%, reaching ₹6,798.

3) Tata Consultancy Services was down by 0.26%, reaching ₹3,238.

Stock market LIVE updates: In the Nifty 50, the following stocks rose the most.

1) Hindalco Industries was up by 6.70%, reaching ₹601.80.

2) JSW Steel was up by 4.99%, hitting ₹992.70.

3) Tata Steel was up by 4.95%, reaching ₹133.47.

4) Coal India was up by 4.60%, reaching ₹391.85.

5) Jio Financial Services was up by 4.29%, hitting ₹230.40.

Stock market LIVE updates: These Nifty sectoral indices gained the most today.

1) Nifty metal rose by 4.09%, reaching 8,168.30.

2) Nifty Consumer Durables was up by 3.19%, reaching 36,085.30.

3) Nifty Pharma was up by 2.43%, reaching 20,461.90.

4) Nifty Oil & Gas was up by 2.20%, reaching 10,262.55.

5) Nifty Auto was up by 2.03%, reaching 20,548.65.

Stock market LIVE updates: The Sensex closed 1,310.11 points or 1.77% up, reaching 75,157.26. Meanwhile, the Nifty closed 429.40 points or 1.92% up, reaching 22,828.55.

Stock market LIVE updates: President Xi Jinping told Spain's prime minister on Friday that China and the European Union must join together in “defending globalisation” and opposing "unilateral acts of bullying", in a clear swipe at U.S. President Donald Trump's tariff policies, adding that there could be "no winners" in any trade war.

Stock market LIVE updates: With less than half an hour for the market to close, the Sensex was indicated to close 1,322.78 points or 1.76% up, reaching 75,169.93. Meanwhile, the Nifty is indicated to close 434.23 points or 1.94% up, reaching 22,833.40.

Stock market LIVE updates: Three of the Nifty 50 stocks were in the red today. They are as follows.

1) Tata Consultancy Services was down by 0.67%, reaching ₹3,225.00.

2) Asian Paints was down by 0.62%, reaching ₹2,396.25.

3) Apollo Hospitals Enterprise was down by 0.54%, reaching ₹6,797.50.

Meanwhile, HDFC Life Insurance Company was trading flat at ₹684.80.

Stock market LIVE updates: Three out of the 30 Sensex stocks were in the red today. They are as follows.

1) Tata Consultancy Services was down by 0.71%, reaching ₹3,223.

2) Asian Paints was down by 0.59%, hitting ₹2,395.60.

3) Infosys was down by 0.31%, reaching ₹1,399.85.

Stock market LIVE updates: The Sensex was up by 1,167.27 points or 1.58%, reaching 75,014.42. Meanwhile, the Nifty was up by 393.70 points or 1.76%, reaching 22,792.85.

Stock market LIVE updates: Oil prices rose lightly with the benchmark Brent Crude going up by 0.09% or $0.06, reaching $63.39 a barrel for June 2025 contracts, while WTI Crude was up by 0.08% or $0.05, reaching $60.12 a barrel for March 2025 contracts, according to Bloomberg data.

However, the ongoing tariff war between the US and China could potentially cause prices to drop next week over weakening demand.

Stock market LIVE updates: China on Friday, raised tariffs on imports from the US even higher to 125 per cent in retaliation to the Trump administration's 145 per cent levies on Chinese goods. It also filed a lawsuit with the World Trade Organization (WTO), news agency PTI reported.

Stock market LIVE updates: The dollar slid to its lowest in 10 years against the Swiss franc and a six-month low against the yen as investors sought other safe haven assets, Reuters reported. Meanwhile, the euro surged 1.7% to $1.13855, a level last seen in February 2022 and gold, seen as a safe asset during times of crisis, hit another record high.

Stock market LIVE updates: In the Sensex, the following stocks rose the most.

1) Tata Steel was up by 5.11%, reaching ₹133.70.

2) NTPC was up by 3.48%, hitting ₹360.90.

3) Power Grid Corporation of India was up by 3.31%, reaching ₹303.

4) Bajaj Finserv was up by 3.20%, reaching ₹1,957.

5) Kotak Mahindra Bank was up by 3.02%, hitting ₹2,115.05.

Stock market LIVE updates: These three Nifty sectoral indices gained the most on open today.

1) Nifty metal rose by 4.63%, reaching 8,210.80.

2) Nifty Consumer Durables was up by 3.03%, reaching 36,029.60.

3) Nifty Pharma was up by 2.55%, reaching 20,486.20.

4) Nifty Oil & Gas was up by 2.32%, reaching 10,274.15.

5) Nifty Auto was up by 2.15%, reaching 20,573.20.