Top Stock Movers: GM, Ford, CrowdStrike, and More
On March 5, 2025, U.S. equities declined at midday due to ongoing tariff concerns and a weaker private sector jobs report. The Dow Jones Industrial Average, S&P 500, and Nasdaq Composite all experienced losses.
CrowdStrike Holdings emerged as the S&P 500's worst performer, with shares plunging 8% despite reporting better-than-expected earnings. The decline was attributed to an unimpressive fiscal 2026 outlook.
Conversely, shares of General Motors, Ford Motor, and Stellantis saw gains following Commerce Secretary Howard Lutnick's announcement of a one-month exemption from new tariffs on autos coming from Canada and Mexico. This decision delayed reciprocal tariffs until April 2.
Additionally, President Trump's suggestion to allow auto loan deductions further bolstered these automakers' stocks.
Huntington Ingalls Industries' shares rose on news of President Trump's planned White House office for shipbuilding.
Brown-Forman shares increased after reporting better-than-expected results.
Meanwhile, oil futures dropped, gold futures gained, the 10-year Treasury note yield remained steady, the U.S. dollar weakened against major currencies, and major cryptocurrencies had mixed performances, with Bitcoin rising.
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