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STOCKS SHRUG OFF TARIFF CONCERNS TO END HIGHER

Stocks rose on Tuesday as the market largely shrugged off president-elect Donald Trump's pledge to enact big tariffs on the United States' three largest trading partners - Canada, Mexico and China.

The statement renewed fears that tariffs could stoke inflation and led automaker shares lower.

But overall the market saw the threat being seen as a negotiating tactic to have the countries clamp down on drugs and migrants crossing the border, and not necessarily likely to be implemented as stated.

Stocks also briefly slipped after minutes from the Federal Reserve meeting earlier this month showed that Fed officials appeared divided over how much farther they may need to cut interest rates.

They agreed as a group, however, that this was a moment to avoid giving much concrete guidance about how U.S. monetary policy is likely to evolve in the weeks ahead.

"The Fed shares the market's concern that while the progress toward neutral might be ongoing, the destination is unknown. We'll add that neutral is most likely a moving-target, complicating the recalibration of policy rates all the more,” Ian Lyngen, head of U.S. rates strategy at BMO Capital Markets said in a note.

The Nasdaq Composite .IXIC led major indexes higher, with a 0.6% gain. Utilities .SPLRCU were the best performing S&P 500 sub sector, while materials .SPLRCM were the worst performer.

Here is Tuesday's closing market snapshot:

(Karen Brettell)

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FOR TUESDAY'S OTHER LIVE MARKETS POSTS:

TIGHTER US IMMIGRATION POLICIES TO WEIGH ON IMMIGRANT BLUE-COLLAR WORKERS -GOLDMAN - CLICK HERE

DOGE FACES DILEMMA AS IT SEEKS LARGE SPENDING CUTS - CLICK HERE

TUESDAY DATA: CONSUMER MOOD BRIGHTENS, NEW HOME SALES TUMBLE - CLICK HERE

S&P 500, NASDAQ HOLD GAINS AS MARKETS MULL TRUMP'S TARIFFS - CLICK HERE

AN IMPLIED FLOOR AT 4% FOR US 10-YEAR YIELDS? - CLICK HERE

GERMAN ELECTION A "POSITIVE CATALYST" FOR UTILITIES - CLICK HERE

UBS BULLISH ON BIG TECH+ FOR 2025 - CLICK HERE

WALL STREET LONG POSITIONS "VULNERABLE" TO SENTIMENT SHIFT - CLICK HERE

WHY US TREASURY YIELDS MAY DROP DESPITE TRUMP - CLICK HERE

TRADE JITTERS HIT EUROPE, AUTOS DOWN - CLICK HERE

EUROPE BEFORE THE BELL: TRUMP TARIFF JITTERS WEIGH - CLICK HERE

TRUMP'S TARIFF POST SENDS MARKETS SCRAMBLING - CLICK HERE