TLDR 

MARKET RECAP → Stocks staged a recovery rally on Wednesday following back-to-back down days incited by fears of a tariff-fueled trade war. The “Trump Put” — or the belief that Trump will ensure that markets are supported — appears firmly in play.

TRUMP GRANTS AUTOMAKERS ONE-MONTH TARIFF EXEMPTION → 🚗 President Trump granted U.S. automakers a one-month exemption from the new 25% tariffs on imports from Canada and Mexico, leading to a 7%+ surge in shares of Ford (F), General Motors (GM), and Stellantis (STLA). ​

PRIVATE JOB GROWTH SLOWS SHARPLY IN FEBRUARY → Employers added just 77K jobs, the weakest since July, as hiring stalled in key sectors. With tariffs looming and uncertainty rising, businesses hit pause. 📉

KENVUE ENDS PROXY FIGHT, ADDS STARBOARD DIRECTORS → Kenvue settled its proxy battle with Starboard by adding three new directors, including Jeff Smith, as the J&J (JNJ) spinoff aimed to boost strategy and investor confidence. 🤝

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Notable Earnings This Week

TODAY’S TOP NEWS

Trump Grants Automakers One-Month Tariff Exemption

Temporary Relief for Auto Industry: 🚗 President Trump has granted U.S. automakers a one-month exemption from the newly imposed 25% tariffs on imports from Canada and Mexico, following discussions with executives from Ford (F), General Motors (GM), and Stellantis (STLA).

Market Reaction: 📈 Following the announcement, shares of Ford, GM, and Stellantis rose by 7% or more, reflecting investor optimism regarding the temporary relief. ​

Future Implications: ⏳ The exemption is set to expire on April 2, after which the tariffs may be reinstated if no further agreements are reached. ​

TODAY’S TOP NEWS

Private Job Growth Slows Sharply in February

Lookin’ Light: 📉 Private employers added just 77,000 jobs in February, missing expectations of 148,000 and marking the weakest growth since July. The slowdown raised concerns over economic uncertainty, policy shifts, and the impact of Trump’s tariffs.

Who Did It:⚠️ Trade, transportation, and utilities shed 33,000 jobs, while education and health services lost 28,000. Meanwhile, AI-related industries faced hiring slowdowns, adding to broader market jitters.

On the Bright Side: 💼 Leisure and hospitality added 41,000 jobs, while business services, finance, and construction all posted gains. The ADP report set a cautious tone ahead of Friday’s official jobs data, which is expected to show 170,000 new payrolls.

TODAY’S TOP NEWS

Kenvue Ends Proxy Fight, Adds Starboard Directors

Settlement: 🤝 Kenvue settled its proxy battle with activist investor Starboard Value by adding three new board members, including Starboard’s Jeff Smith, e-commerce expert Sarah Hofstetter, and former Bayer exec Erica Mann.

Shake-Up: 📉 Starboard had built a significant stake in Kenvue and criticized its management and stock performance. The board shake-up aimed to bring expertise in brand strategy, consumer health, and investor relations.

Spinoff: 🏥 Kenvue, a Johnson & Johnson (JNJ) spinoff, owns major consumer brands like Aveeno, Band-Aid, and Tylenol. Despite its independence, J&J still held a stake in the company after its historic 2023 separation.

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