Stocks drifted early Tuesday as investors look for more details on where tariffs stand for autos and tech products after President Trump signaled some wiggle room on Monday. Stocks rallied to start the shortened holiday week notching the first back-to-back gains for the Dow since late March and for the S&P 500 and Nasdaq,

Trump has described the tariffs as "reciprocal," saying the steep toll will correct a grievance he's held for "35 years:" that the U.S. is being "ripped off" by trade imbalances. The president has claimed the tariffs will prompt countries to try to negotiate a deal with the U.

Meanwhile, Trump says he will provide an update today about his administration's approach to duties on semiconductors Nine days ago, a baseline tariff of 10% on almost all foreign imports to the US kicked in,