The stock market climbed on Thursday after President Donald Trump urged the Federal Reserve to implement policy rate cuts amid easing inflation despite renewed tariff threats on trading partners.
Overall, S&P 500 increased 0.4% to 6,045, while NASDAQ rose 0.2% to 19,662.
Chart of the Day
Here is the one-year chart of Apple (AAPL) as of May 12, 2025, when the stock was at $211.
Apple stock has been weak as tariffs look to take a bite out of profits.
In last quarter’s earnings call, Apple revealed tariffs could add up to $900 million in costs for the June quarter, despite limited impact in March. Management stated the limited tariffs in March was primarily because the company was able to proactively optimize its supply chain and manage inventory levels effectively, minimizing exposure to changing trade conditions.
For the upcoming June quarter, the company acknowledged it cannot provide a precise estimate of the financial impact from tariffs, as there is still significant uncertainty about whether additional tariffs will be introduced or current policies will shift before the quarter ends. However, management stated assuming the current global tariff rates, policies, and applications do not change for the balance of the quarter and now new tariffs added, Apple estimates the impact to add $900 million to its costs. The company emphasized that this estimate is specific to the June quarter and should not be used to forecast future quarters as there are certain unique factors that benefit the quarter.
AAPL is on the radar for our Conservative Growth Portfolio.
