The Trump Trade Dominates Wednesday

Traders are moving today on energy stocks, shipbuilders, and more after Trump's national address.

Market outlook:

• Futures Up: S&P +48bps, Nasdaq +58bps, Russell +93bps

• 10-year Treasury yield at 4.24% as traders assess tariffs' potential to drive up consumer prices despite weakening economic data

• Beijing announces a stimulus package to counter tariff impact, vowing to make domestic demand the "main engine" of growth; MCHI is up 1.8% in the premarket.

• Bitcoin recovers to $90,000 after Commerce Secretary Lutnick confirms Friday announcement of strategic reserve that will give Bitcoin "unique status"

• WTI slumps to yearly lows below $68 on downward pressure from tariffs and OPEC

• Chevron (CVX) ordered to exit Venezuela within one month; Trump administration sets April 3 deadline for oil major to wind down operations.

• BlackRock (BLK) announced a $22.8B acquisition of Panama Canal ports; the deal included Cristobal and Balboa terminals, which sparked Trump's security concerns.