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Happy Friday. This is TheStreet's Stock Market Today for Oct. 10. 2025. You can follow the latest updates on the market here in our daily live blog.

President Donald Trump has threatened to increase tariffs on Chinese imports, derailing hopes for a quick resolution to the two largest countries' trade conflict.

In a post on his Truth Social platform, Trump threatened "massive" new tariffs on China. He said he was responding to what he said was China's plan "to impose Export Controls on each and every element of production having to do with Rare Earths, and virtually anything else they can think of, even if it’s not manufactured in China."

He said: "I was to meet President Xi in two weeks, at APEC, in South Korea, but now there seems to be no reason to do so."

As a result, stocks are cratering, tossing early-day gains: At last glance, the Nasdaq (-2.2%), Russell 2000 (-1.47%) and S&P 500 (-1.44%) faced steep declines. The Dow (-0.99%), which led stocks earlier today, was still the best-situated, but down nearly 1% as well.

The preliminary University of Michigan Consumer Sentiment report for October just released at 10 a.m. ET, coming in mostly in line. The top-line figure was 55 (down from 55.1 in September.) Analysts polled by Reuters were looking for 54.2. That's only a mild consolation, though, as the showing is pretty tepid as is.

Current expectations tipped up slightly to 61 (from 60.4), analysts were looking for 60. This is an indication that Americans remained fairly confident about the here and now in the economy. However, that was not the same for future expectations.

Consumer expectations declined to 51.2 (from 51.7), offering an indication that views about the future of the economy continued to darken. The number was the only figure below analyst expectations, coming in below the 51.7 consensus.

Inflation expectations were also little-changed. Over the next year, consumers now see inflation rising 4.6% (vs. 4.7% expected in the last report.) Over the next five years, they reported expectations of 3.7%, the same as last month.

Stocks remained in the green, but lurched a little lower on the news. At last look, U.S. indexes were up between 0.18% and 0.36%, pulling back from early day trading.

The U.S. stock market is now open. The Dow (+0.59%) is finally making some strides today, leading the pcak higher. The S&P 500 (+0.38%), Nasdaq (+0.37%), and Russell 2000 (+0.31%) are also higher for the moment.

We'll be back in a few minutes with the release of the UM Consumer Sentiment data.

Good morning. Yesterday, we celebrated the tee-off of earnings season with strong results from Delta, PepsiCo, and Levi Strauss, among others.

Delta credited still-strong premium seat revenue and higher airfares. PepsiCo, more volume. And Levi Strauss had ecommerce and some pre-tariff planning on their side, plus price hikes on deck to meet the moment.

Although there was a lot to celebrate, a tepid mood among tech names had stocks sagging. Tech giant Google said that enterprises using certain Oracle software might have been targeted in a hack that might carry some consequence.

Today, we'll take a beat from earnings before we jump into the first full week of festivities. Instead, we'll turn our attention to a heavily-watched piece of economic data: consumer sentiment. Ahead of the singular big report of the day, stocks are almost flat, albeit with a little upside this morning.

Barring any surprises, there's one economic report of consequence today: the preliminary Michigan Consumer Sentiment Report for October. Out at 10:00 a.m. ET, it'll clue us in to how consumers are feeling. And although it's "soft data", investors might give it more weight than usual, especially in the absence of data from government agencies like the Bureau of Labor Statistics.

Understandably, analysts are looking for a decline from the soft data print amid a weaker hiring environment and the government shutdown, both of which are getting a lot of attention in the national conversation. Per Reuters, headline figure sagging to 54.2 (from 55.1 in Sept.), while the consensus estimate on consumer expectations and current conditions is 51 (from 51.7) and 60 (was 60.4), respectively.

Separate from the economic drops, Fed Governors Goolsbee (9:45 a.m. ET) and Musalem (1:00 p.m. ET) will also be slated to speak.

As indicated above, today will be a break for earnings hawks; there are no earnings reports today of note today.

This story was originally reported by TheStreet on Oct 10, 2025, where it first appeared in the Stock Market News & Data section. Add TheStreet as a Preferred Source by clicking here.