U.S. stocks traded mixed to higher on Tuesday as markets digested a massive rally to start the week, sparked by news of potential tariff exemptions from the Trump administration.
Since Inauguration Day, the market has been especially sensitive to signs of economic weakness.
Consumer confidence, which plunged in March to its lowest level in four years, showed Americans’ outlook on the economy is becoming increasingly sour.
In other economic news, new home sales rebounded 1.8% in February after a 6.9% decline the month before.
Still, housing demand remains muted due to elevated interest rates and high prices — barriers that continue to keep many first-time buyers on the sidelines.
The silver lining? Interest rates are expected to ease in the second half of the year. According to CME Group’s FedWatch Tool, investors are pricing in rate cuts in both June and September.
Markets are also watching closely for more clarity from the Trump administration on possible tariff exemptions ahead of “Liberation Day” on April 2.
That’s when President Trump is expected to roll out a new wave of so-called reciprocal tariffs. So far, all signs suggest the tariffs may be narrower than initially feared.
With that backdrop, here are some stocks to watch today
Tesla (TSLA)
Despite Elon Musk’s close ties to the Trump administration, Tesla hasn’t received much goodwill since Inauguration Day. The stock is down a jaw-dropping 31% this year — even after notching a five-day winning streak.
While Tesla maintains a dominant position in the U.S. EV market, its presence in Europe is faltering amid intensifying Chinese competition.
Tesla’s European sales plunged 44% in February, while Chinese brands saw an 82% surge, according to JATO data.
Chinese EVs are also crushing it at home with sleek, affordable designs. For example, an entry-level BYD starts at under $10,000 in China, compared to $32,000 for a Tesla Model 3.
Cassava Sciences (SAVA)
While some stocks are down 30% this year, Cassava Sciences dropped that much in a single day on Tuesday, triggering a pre-market trading halt.
The biotech company disappointed investors after its Alzheimer’s drug trial came up short. Cassava said the third phase of its Refocus-ALZ study failed to hit any of its key targets.
Now trading below $2.00, SAVA is back in penny stock territory—a sharp fall for a stock that hit $42.20 in the past year. From peak to trough, it’s down a stunning 95%.
AbbVie (ABBV)
AbbVie has fallen for six straight sessions as investors took profits following a powerful two-month rally.
ABBV stock recently hit an all-time high after AbbVie inked a licensing deal that moves it into the booming weight loss market.
ABBV is down more than 6% during this recent pullback but remains up 14% year-to-date.
There’s reason to believe the downtrend could reverse soon. AbbVie’s fundamentals remain strong, with $56.33 billion in revenue last year and management expecting sales to top that in 2025.
CrowdStrike (CRWD)
Cybersecurity firm CrowdStrike was one of the Nasdaq’s top gainers Tuesday, rising 3.3% after BTIG upgraded the stock from Neutral to Buy.
CrowdStrike also announced a new Service Partner Program aimed at managed service and security providers.
CRWD is still trading below its February all-time high of $455.59, but the stock has delivered a solid 13% gain so far this year.
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