麻豆传媒

NEW YORK (AP) 鈥� U.S. stocks swung higher ahead of President Donald Trump鈥檚 announcement of tariffs he has promised as part of his 鈥淟iberation Day.鈥� The S&P 500 rose 0.7% Wednesday after eliminating an early loss of 1.1%. It鈥檚 had a pattern this week of opening with sharp drops only to finish the day higher. The Dow Jones Industrial Average climbed 0.6%, and the Nasdaq composite gained 0.9%. Tesla swung from a sharp loss in the morning to a gain to help pull the market higher. Treasury yields also veered from lower to higher following a better-than-expected report on the job market.

THIS IS A BREAKING NEWS UPDATE. AP鈥檚 earlier story follows below.

NEW YORK (AP) 鈥� U.S. stocks are swinging sharply Wednesday in the final hours before unveils the he promised as part of his 鈥� ,鈥� which could drastically remake the global economy and trade.

The S&P 500 was virtually unchanged in late trading, but only after careening between an earlier loss of 1.1% and a later gain of 1.1%. It鈥檚 had a of opening with sharp drops only to .

The Dow Jones Industrial Average was up 31 points, or 0.1%, with an hour remaining in trading, and the Nasdaq composite was 0.3% higher. Both also veered from sharply lower in the morning to sharply higher in the afternoon and then doubled back.

Elon Musk's Tesla helped knock the market around after initially falling more than 6% following a report that in the first three months of the year than it did in last year鈥檚 first quarter.

Tesla, one of Wall Street鈥檚 most influential stocks because of its immense size, has faced about CEO Elon Musk鈥檚 leading the U.S. . But its stocks swung to a gain of 4.9% later in the day following a report from Politico that Trump has told others that Musk will step back from his government role in coming weeks.

Financial markets around the world have broadly been shaky lately because of uncertainty about what Trump will announce Wednesday. He has said he wants tariffs to make the global system more fair and to bring manufacturing jobs back to the United States from other countries. But tariffs also threaten to grind down and other economies, while worsening when it may be stuck above the Federal Reserve鈥檚 2% target.

One of the hopes that鈥檚 helped push upward on the U.S. stock market recently is the possibility that at least the worst of the uncertainty around tariffs may have already passed.

鈥淲e do not know how long the previously enacted tariffs and any future tariffs will remain in force, but we believe peak tariff uncertainty may soon be behind us,鈥� according to Kurt Reiman, head of fixed income Americas, and other strategists at UBS Global Wealth Management. 鈥淢uch of the work the administration set out to achieve will have been put in place, and there are numerous potential offramps available.鈥�

The tariffs Trump will unveil later in the day will follow other announcements of 25% tariffs on ; levies against and expanded tariffs on . Trump has also put tariffs against and plans separate import taxes on pharmaceutical drugs, lumber, copper and computer chips.

But even if Trump's tariffs ultimately end up being less harsh than feared, a worry hitting the market is that the herky-jerky rollout of his trade strategy may itself create enough nervousness to spur U.S. and businesses to , which would damage the economy.

Surveys have shown deepening pessimism, but economists are waiting to see if that translates into actual damage for the economy. A report on Wednesday suggested the U.S. job market may still be running stronger than expected.

The report from ADP Research said employers, excluding the government, accelerated their hiring last month by more than economists estimated. It could be an encouraging signal for the more comprehensive jobs report coming Friday from the U.S. government. Economists expect that to show overall hiring slowed in March from February.

The job market has been one of the linchpins keeping the U.S. economy out of a recession.

Treasury yields swung in the bond market, echoing the indecision seen in the stock market.

The yield on the 10-year Treasury fell as low as 4.11% in the morning from 4.17% late Tuesday and from roughly 4.80% early this year. But it later recovered to 4.19%. Higher yields can indicate higher expectations for the economy or for inflation.

On Wall Street, Newsmax fell 73.4% in its third day of trading to give back some of the meteoric gains from its debut at the start of the week It surged 735% Monday and then another 179% on Tuesday.

Several airlines, meanwhile, flew higher to recover some of the sharp losses taken recently on worries that tariff-weary customers will fly less. United Airlines climbed 3.6%.

In stock markets abroad, indexes were mixed across Europe after finishing mixed in Asia.

___

AP Business Writers Yuri Kageyama and Matt Ott contributed.

Stan Choe, The Associated Press