CNBC Business News Update Market Midday: Stocks Higher, Amazon Will Not Show Tariffs Separately At Checkout After White House Blowback, Automakers Hope For Tariff Relief 4/29/25
Apr 29, 2025
Wall Street is seeing gains, particularly with Honeywell shares on the rise. Amazon has decided not to show tariffs separately at checkout, a move responding to pressure from the White House. The automotive industry is hoping for relief from tariffs, amidst economic uncertainties. Meanwhile, Coca-Cola's quarterly results highlight broader market trends, and UPS is making job cuts due to economic challenges linked to Amazon. This discussion touches on consumer confidence and the implications for everyday finances.
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Wall Street Market Gains
- Wall Street showed strong gains with major indices moving up, reflecting positive market sentiment.
- Honeywell led gains, while Nvidia showed minimal increase, indicating varied sector performance.
Amazon Rejects Tariff Cost Disclosure
- Amazon decided not to separate tariff costs on checkout screens despite White House pressure.
- The company maintained an apolitical stance, clarifying tariff display was only considered for Amazon Hall, not the main site.
Consumer Confidence Falls, Tax Focus Rises
- Consumer confidence dropped to its lowest in nearly five years amid economic uncertainties.
- Washington lawmakers are focusing on tax cuts to ease affordability issues rather than tariffs.