U.S. companies report varied financial impacts of President Trump's tariffs, with over 100 large firms updating investors recently. Some sectors like automotive and consumer goods face significant challenges due to increased tax burdens. In contrast, tech and financial firms, which are less dependent on imports, have reported strong earnings. Investors are favorably reacting to positive performance indicators, leading to record highs for the S&P 500 and Nasdaq indices despite some sector losses influencing the Dow Jones Industrial Average. CEOs appear fatigued by ongoing discussions regarding tariff impacts and policies.
"There's a large divergence in experiences among firms, some of whom are very exposed to import prices and some of whom really aren't," says Laura Veldkamp, a professor of finance and economics at Columbia Business School.
Investors seem to be focusing on the good news: The benchmark S&P 500 and the tech-heavy Nasdaq hit a series of record highs this week.
Some big companies, especially carmakers and other consumer-facing businesses, are reporting real financial pain from the tariffs that Trump has imposed so far.
But for many of the tech and financial companies that are less reliant on imports, it has been a pretty great few months.
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