Why Is the Stock Market Up Today, 2/24/26?

2026-02-24 16:15:20

Both the S&P 500 (SPX) and the Nasdaq 100 (NDX) are trading higher on Tuesday as investors react to a lower-than-expected tariff rate and a consumer confidence update from The Conference Board (TCB).

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President Trump’s new global 10% tariffs went into effect at 12:01 a.m. Eastern Time today. That came as a surprise to some, as he had threatened to impose a 15% tariff over the weekend. At the same time, an administration official emphasized that the White House is actively working on raising the rate to 15%.

Consumer Confidence and Tech Sector Drive Stocks Higher

Elsewhere, U.S. consumer confidence edged higher alongside a jump in future expectations for the labor market and business conditions. February’s Consumer Confidence Index (CCI) was 91.2, topping the consensus estimate of 87.1. January’s CCI was revised up to 89 from 84.5, the lowest reading since May 2014.

Tech stocks are also driving the market’s gains. After a significant selloff on Monday, the industry has staged a partial recovery, with names like Advanced Micro Devices AMD +6.83% ▲ , IBM IBM +4.60% ▲ , and Salesforce CRM +3.99% ▲ leading to the upside.

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