Happy Wednesday afternoon to everyone on The Street. Here's a snapshot of where markets ended the trading session, plus tomorrow's trade idea delivered to you today.

• 🟩 | US stocks popped today, with the S&P 500 notching its sharpest gain since 2008, after President Trump lowered his tariffs on most countries to 10% for 90 days, which the White House insisted was the plan all along.

• 📈 | One Notable Gainer: Blue-chip stocks across the board surged on the announcement. NVIDIA $NVDA ( ▲ 1.35% ) paced the Dow with a double-digit gain.

• 📉 | One Notable Decliner: Nearly every company on a major index closed in the green today, but Dollar General $DG ( ▼ 2.08% ) was a rare exception.

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MARKET MOVERS

Airlines, Banks, Chipmakers

Trump’s tariff pause sent stocks across sectors soaring today. Here are some of the notable gainers:

• Airlines — $DAL ( ▲ 1.32% ) / $LUV ( ▲ 0.98% ) / $UAL ( ▲ 1.99% )  

• Banks — $GS ( ▲ 0.78% ) / $JPM ( ▼ 0.68% ) / $WFC ( ▲ 2.28% )  

• Chipmakers — $ARM ( ▼ 1.2% ) / $MCHP ( ▼ 0.39% ) / $ON ( ▲ 0.65% )  

• Retailers — $TGT ( ▼ 2.72% ) / $W ( ▼ 1.99% ) / $WMT ( ▼ 0.8% )

• Retail favs — $MSTR ( ▼ 0.23% ) / $PLTR ( ▲ 6.24% ) / $TSLA ( ▲ 0.7% )  

• Tech giants — $AAPL ( ▼ 0.19% ) / $AMZN ( ▼ 1.39% ) / $MSFT ( ▼ 0.54% )  

OVERHEARD ON THE STREET

CNN: China announced retaliatory tariffs of 84% on US goods, escalating the trade war with the US.

NPR: The EU approved new retaliatory tariffs on specific US products starting next week, hours before the pause.

CNBC: Bitcoin $BTC.X ( ▼ 1.49% ) surged on the Trump tariff pause, contributing to a broad relief rally in the crypto markets.

AP: Microsoft is "slowing or pausing" some data center projects, including a $1B plan in Ohio.

Fortune: Delta’s earnings showed weakening demand for travel bookings, and its CEO criticized Trump's tariffs as the "wrong approach”.

TOMORROW’S TRADE IDEA, TODAY

Mizuho Bought the Dip

Uncertainty Seems Certain

The tariff rollercoaster took another wild turn today. It’s starting to look like the only certainty on Wall Street is uncertainty.

Mizuho $MFG ( ▲ 2.11% ) believes the volatility will continue. But it’s also urging investors to take the opportunity to buy into high-quality stocks at reduced prices.

To that end, the firm recently provided investors with a list of stocks it has rated Outperform, given their insulation from tariffs, proximity to support levels, or near-term catalysts. Here are some of the highlights.

First Solar

First Solar $FSLR ( ▼ 3.38% ) , the biggest solar panel manufacturer in the US, made the list.

The stock has dropped more than 40% over the last six months, well underperforming the broader market, largely on pessimism regarding the Trump administration’s stance on clean energy.

But Mizuho analysts believe tariffs could lead to “better negotiating power in 2027” for FSLR, which is reflected in their price target of $252, representing an upside of more than 90%.

Morgan Stanley $MS ( ▲ 1.22% ) analyst Andrew Percoco recently echoed this sentiment, pointing out that the company is increasing domestic manufacturing, and 93% of its revenue is already US-based.

Chewy & Alibaba

Analyst David Bellinger is bullish on pet retailer Chewy $CHWY ( ▲ 2.22% ) , citing its “under-penetrated” mobile app and efforts to focus on vet-specific offerings — which many pet owners may consider non-discretionary, regardless of economic conditions. He added that the company is flush with cash and plans to buy back $400 million in stock. 

Alibaba $BABA ( ▼ 1.48% ) also made the cut. Despite its nearly 20% drop over the past week, it has risen nearly 25% YTD. Analyst James Lee believes the stock can be a hedge against uncertain Chinese economics and that its food delivery, online video, and payments arms aren’t priced into the stock currently.

We’ve just seen the first rip following a tariff-related dip. With recessionary concerns mounting and no small amount of uncertainty remaining, we may not have seen the last. To hear Mizuho tell it, investors should stay in the game — provided they know when to hold ‘em and when to fold ‘em.

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ON OUR RADAR

ET: China issued a travel warning for citizens planning to visit the US, citing strained economic relations and concerns over domestic security.

CNN: US egg-producing giant Cal-Maine Foods $CALM ( ▼ 2.23% ) acknowledged a DOJ investigation into its egg price increases.

Bloomberg: Billionaires including the Persson family behind H&M $HNNMY ( ▲ 0.37% )  boosted their personal stakes ahead of today’s stock surge.

AP: The Treasury Department imposed new sanctions on five entities and one individual linked to Iran’s nuclear program ahead of upcoming talks.

CNBC: April 15 is the final day to claim the $1,400 pandemic stimulus check. Here’s how to check if you’re eligible.

TUESDAY’S POLL RESULTS

Are you bullish or bearish on Dollar Tree (DLTR) over the next 12 months?

🟩🟩🟩🟩🟩🟩 🐂 Bullish

🟨🟨🟨⬜⬜⬜ 🐻 Bearish

And, in response, you said:

• 🐂 Bullish — “Without the ‘anchor’ weighing it down, it should be fine.”

• 🐻 Bearish — “Don't buy cheap stuff at a high price.”

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