Stocks are adding to yesterday’s gains in the early going, while gold is holding at a record high. Crude oil is flattish along with Treasuries, while the dollar is modestly higher.

The clock is ticking down to President Trump’s self-set Feb. 1 deadline for hitting countries like Canada and Mexico with tariffs. Markets briefly tanked late yesterday after Trump said he’d soon proceed with 25% levies on imports from the two countries, but bounced as it was reported aides were scrambling to head off (or qualify) the move.

The tariffs would affect some $900 billion in imports, and economists expect them to raise prices on all kinds of products used by American businesses and consumers. Canada and Mexico are said to have counter-tariffs prepped, too. Meanwhile, China may be next in the line of fire. Trump is reportedly considering an additional 10% tariff on imports from that nation as soon as April.

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One of the biggest of the “Big Tech” names reported earnings last night. Apple Inc. (AAPL) reported higher-than-expected earnings and sales in its fiscal first quarter. But iPhone revenue came in light at $69.1 billion (forecast: $71 billion), as did sales in China at $18.5 billion (forecast: $21.5 billion).

Finally, investigators are trying to determine what caused the tragic crash between an American Airlines Group Inc. (AAL) regional jet and a US Army Black Hawk helicopter in Washington earlier this week. Sixty-seven people died on the two aircraft after they crashed while the American plane was close to landing at Reagan Washington National Airport.