President Trump imposed a 35% tariff on Canada
The Dow Jones Industrial Average (DJI) was last seen down triple digits, while both the S&P 500 Index (SPX) and Nasdaq Composite (IXIC) are also lower, despite yesterday’s record closes. Today’s dismal price action follows President Trump’s announcement of a 35% tariff on Canada, as well as reports that other countries could soon see levies of 15% to 20%. the DJI and IXIC are now at risk of snapping three-week win streaks, with the SPX on track for a weekly loss as well. Meanwhile, the Cboe Volatility Index (VIX) is eyeing its first gain in four sessions.
Continue reading for more on today’s market, including:
- Amazon.com stock could surge into year-end.
- Now is the time to buy and hold this chip stock.
- Plus, call traders target railroad stock; bull notes for ANET; and casino stock pulling back.
CSX Corp (NASDAQ:CSX) stock is among the most heavily traded stocks in the options pits today, with 44,000 calls exchanged so far — 10 times the volume typically seen at this point — compared to 634 puts. The most popular contract is the August 35 call, with new positions being bought to open. The shares were last seen up 2.6% to trade at $34.40, after the railroad giant laid off 125 managers as part of a company-wide restructuring. CSX is up 6.5% in 2025, and earlier surged to its highest level since December with support from the 20-day moving average.