Major indices are struggling to hold onto gains following tariffs headlines.

• TRUMP: EU TARIFFS TO BE 25% ON AUTOS, OTHER THINGS
• TRUMP SAYS CANADA, MEXICO TARIFFS GO INTO EFFECT APRIL 2

Mega cap stocks are mostly higher today as investors await Nvidia (NVDA) earnings, after the close.

Seven out of eleven sectors are moving higher. Technology (XLK) is in the lead mainly due to favorable earnings from First Solar (FSLR) and Intuit (INTU), as well as Super Micro (SMCI), which filed its delayed financial reports to the SEC to prevent possible delisting on the Nasdaq. Consumer Staples (XLP) is the laggard of the day, in part due to fears of a weaker consumer.

New Homes Sales in January fell to 657,000 from 734,000 in December and below expectations of 680,000.

All eyes are on Nvidia, which reports after the close. The stock is trading like it has already reported and is acting as an influential support for mega cap stocks. The betting is that the company beats consensus, which has happened in the last six releases, and the shares surge.