White House Considers New Tariff Plan Ahead of Key Announcement

The White House is considering a proposal to impose a 20% tariff on most imports, according to a report by The Washington Post. While this plan is under discussion, advisers emphasize that multiple options remain, including a country-specific “reciprocal” approach. The final decision has yet to be made.

President Donald Trump is scheduled to announce his reciprocal tariff plan at 3 p.m. on Wednesday during an event in the White House Rose Garden, though the specifics of the levies remain unclear. This announcement comes ahead of an April 2 address in which Trump is expected to outline broader global trade policies. Unlike previous tariffs targeting specific industries or nations, the new proposal is expected to be more comprehensive and long-term. The administration argues that these measures aim to create fairer trade conditions and generate additional federal revenue. However, uncertainty over shifting trade policies has already contributed to volatility in financial markets.

Airline Stocks Drop as Jefferies Issues Downgrades Amid Demand Concerns

Jefferies analyst Sheila Kahyaoglu downgraded several major airline stocks due to concerns over softening summer demand amid increasing macroeconomic uncertainty. American Airlines and Delta Air Lines were both downgraded from “Buy” to “Hold,” while Southwest Airlines and Air Canada were lowered from “Hold” to “Underperform.” Kahyaoglu cited weak corporate and consumer sentiment as factors likely to pressure summer demand, leading to anticipated cuts in full-year 2025 earnings guidance for these carriers.

These developments reflect broader industry challenges, including reduced corporate spending and consumer hesitation amid economic uncertainties. Delta Air Lines, for instance, had previously halved its first-quarter profit estimates, attributing the reduction to weakened corporate spending and consumer reluctance due to economic concerns

Newsmax Soars: A Stunning 700% IPO Surge on Wall Street

Newsmax (NMAX), the conservative cable news network, has experienced an extraordinary surge in its stock price following its initial public offering (IPO) on the New York Stock Exchange (NYSE). After opening at $14 per share—up from the IPO price of $10—the stock closed its first trading day at $83.51, marking a remarkable 735% increase. This momentum continued into the premarket session, with shares rising over 27% to reach $106, elevating the company’s market valuation to approximately $12.8 billion. ​Barron’sReuters

Founded in 1998 by CEO Christopher Ruddy, Newsmax began as a digital media brand and expanded into cable news broadcasting in 2014. The network has grown to become the fourth-most-watched news channel in the U.S., reaching over 40 million Americans monthly through its television broadcasts and multi-platform content.

Johnson & Johnson Stock Falls After Settlement Rejected

Johnson & Johnson recently experienced a drop in its stock price following a decision by a U.S. bankruptcy judge to reject the company’s $10 billion settlement proposal. The proposal was intended to resolve thousands of lawsuits filed by women who claim that the company’s baby powder and other talc-based products caused ovarian cancer. The judge ruled that the settlement plan lacked sufficient support from the women allegedly harmed by these products, which has added to the ongoing legal and financial challenges the company faces.

The ruling marks a significant setback for Johnson & Johnson, as the proposed settlement was seen as a potential way to resolve the complex litigation that has been a major liability for the company. The lawsuits against Johnson & Johnson have raised serious concerns about the safety of its talc-based products, and the legal battle is expected to continue, with the company now facing heightened pressure to address the claims of those affected.

PVH Corp. (PVH) Surges After EPS Beat and Bullish Guidance

PVH gapped up and is trying to reverse higher—up over 18% in early trading. This is a big bounce for the beaten-down stock, which had been cut in half over the past year. Today’s earnings and bullish full-year guidance have traders reassessing the outlook. EPS of $3.27 ($3.19) beat by 5.5% Revenue of $2.37B fell 4.75% YoY but topped expectations Q1 guidance below: $2.10–$2.25 vs. $2.33 estimate Full-year EPS guidance raised 4.4% to $12.40–$12.75 vs. $11.88

What’s Coming Up at Tackle Trading?

The Trader’s Lounge will be held at 1:00 PM EST today as we hold another Macro Monday edition of the lounge. Come start your trading week off right!

The Coaches Show will begin at 8:30 PM EST tonight. Come join Coach Frank and Greg and the great energy they have as they educate our community!

S&P 500 (SPY)

Markets are fighting hard to put in a bottom with genuine support battles like we see here on the SPY. Matt highlighted the importance of this level in the newsletter this weekend and the battle is underway!