The markets started the day mostly lower, but ultimately closed higher. The Dow 30 closed lower by 7 points - not a bad recovery after trading 200 points lower at the start of the day. The S&P 500 added 13, while the Nasdaq 100 popped 95 thanks to a strong move in Apple.

News of Trump wanting to raise the tariff on $200 billion worth of Chinese goods from 10% to 25% sent global stock markets lower. From the Chinese markets to the European markets, they all saw losses as China said they would retaliate if the proposed tariffs were enacted.

Tariffs held back all the typical US names, like Boeing (BA  ), Caterpillar (CAT  ), and 3M (MMM  ), all of which were in the red.

Stock News:

Apple (AAPL  ) was the dominant headline today as the company officially became the first company to hit $1 trillion in value. Shares were the best performer in the Dow today, higher by 3%. Yesterday the company announced positive earnings plus forward guidance, initiating the two-day rally.

Tesla (TSLA  ) shares were higher by 16% today despite the company reporting earnings and revenue that were less than the street expected. Investors responded to the announcement that the company will hit the 6000 car mark as well as be profitable in the second half of the year.

Cigna (CI  ) was the latest health company to announce earnings. The results showed earnings and revenue that were both much better than expected, sending shares higher by 3% and closing above the 200-day moving average for the first time in over a year. The company said that higher membership numbers as well as increased premiums were the driving factors behind the beat.

In the retail space, Morgan Stanley upgraded Nike (NKE  ). Morgan Stanley explained the upgrade by stating that they are successfully transitioning from a traditional retail business to a retail tech company. Shares were higher by 2% on the day, nearing highs once again.