Bloomberg News Now: Markets Rise, Auto Tariffs Eased, Ukraine War Stalemate

Market Performance and Economic Indicators

• 📈 Stocks closed higher on Wall Street, with the Dow, Nasdaq, and S&P all posting gains, despite weak consumer confidence and labor data.
• 📊 The ten-year Treasury yield stood at 4.17%, and the two-year Treasury yield was at 3.65%.

Auto Tariffs and Trade Policy

• 🚗 President Trump signed an executive order to ease the impact of 25% auto tariffs, offering automakers a phased offset over two years.
• 💡 This move aims to encourage production movement to the United States while providing relief from tariff stacking, particularly on steel and aluminum.
• 🗣️ Trump stated the order was to avoid penalizing carmakers unable to secure parts, emphasizing it's a small part of the car's value.

Ukraine War Negotiations

• 🇺🇦 Russian President Vladimir Putin insists on controlling four regions of Ukraine as part of any ceasefire, dealing a blow to peace efforts.
• 📉 Despite U.S. pressure and talks led by Trump's envoy, Putin maintained his maximalist territorial position.

Corporate Responses to Tariffs and Economic Conditions

• 📦 Amazon will not display the cost of Trump's tariffs on products, following White House criticism that such a move would be political and hostile.
• 📉 General Motors and JetBlue pulled their full-year guidance due to trade uncertainty and a travel demand slowdown, respectively.
• ✂️ UPS announced job cuts, closing dozens of buildings as it loses Amazon deliveries.

Congressional and Political Developments

• 🏛️ House committees are drafting bills to combine with extension of Trump's tax cuts, with Speaker Mike Johnson aiming for completion by Memorial Day.
• 🎤 Trump is holding a rally to mark his first 100 days in office, while Democrats plan to evaluate his progress.