The so-called TACO trade will be tested as markets wait to see if Trump will actually follow through with his 50% steel duty or if he will put it on hold soon.

The Dow is trading near the highs, of what has so far been the quietest day since late-2023. With a high of 42,829.89 and low of 42,710.09, the intraday range has been just 119.80 points, or 0.28%, based on the current price.