05:11 PM EDT, 03/31/2025 (MT Newswires) -- US equity indexes regained lost ground to finish mostly higher on Monday, ahead of more tariffs that will likely be announced by the Trump administration this week.

The Dow Jones Industrial Average rose 1% to 42,001.8, while the S&P 500 added 0.6% to 5,611.9. The latter fell as much as 1.65% earlier in the day. The Nasdaq Composite was down 0.1% to 17,299.3 at market close. Barring consumer discretionary, all sectors logged gains, led by consumer staples.

President Donald Trump is expected to announce reciprocal tariffs this week. Trump told reporters on Sunday that the expected tariffs will target "all countries," CNBC reported.

"While the announcement can reduce tariff-related uncertainty from the US, we anticipate retaliation from affected trade partners, and a possible trade war," DA Davidson said in a note.

Last week, Trump announced a 25% duty on all imported cars and light trucks.

Goldman Sachs raised its 12-month probability of a US recession to 35% from 20% due to factors including slower economic growth and declining consumer confidence.

The investment firm now expects annualized fourth-quarter gross domestic product to grow by 1%, down from a prior 0.5% view. The brokerage raised its full-year core personal consumption expenditure inflation outlook by half a percentage point to 3.5%.

US Treasury yields traded lower, with the 10-year rate down 4.4 basis points to 4.21% and the two-year rate down 2.1 basis points at 3.89%.

The US manufacturing sector's contraction unexpectedly deepened this month as uncertainty reached its highest level since fall 2022, according to the Federal Reserve Bank of Dallas.

Moderna ( MRNA ) declined 8.9%, the worst performer on the S&P 500. The top vaccine official at the US Food and Drug Administration resigned late Friday, blaming the current US Secretary of Health and Human Services for seeking "subservient confirmation of his misinformation and lies." Novavax ( NVAX ) was down 8.4%, while BioNTech's (BNTX) American depositary receipts fell 4.1%. Pfizer ( PFE ) was up 0.5%.

Rocket Companies ( RKT ) agreed to acquire home loan service provider Mr. Cooper Group ( COOP ) in a $9.4 billion all-stock deal that is expected to boost Rocket's mortgages business. Rocket's shares declined 7.4%, while Mr. Cooper ( COOP ) surged nearly 15%.

Tesla (TSLA) declined 1.7%. The electric-vehicle manufacturer's first-quarter delivery numbers, scheduled to be out later this week, will likely lag Wall Street's estimates, RBC Capital Markets said in a note emailed Friday.

West Texas Intermediate crude oil rose 3% to $71.44 a barrel.

Gold increased 1.4% to $3,157.2 per troy ounce, while silver fell 0.2% to $34.75 per ounce.

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