Market Recap: Wall Street Advances as Earnings Season Heats Up on April 29, 2025

Major Indexes Continue Upward Momentum Amid Earnings Deluge

The U.S. stock market extended its winning streak on Tuesday, April 29, 2025, as investors digested a wave of corporate earnings and monitored developments in trade negotiations. The S&P 500 rose modestly, marking its sixth consecutive day of gains – the longest winning streak since November 2024.

By the closing bell, the Dow Jones Industrial Average climbed 0.3% to finish at approximately 40,350, while the S&P 500 added 0.2% to reach 5,535. The tech-heavy Nasdaq Composite edged up 0.15% to close near 17,380.

Why Was the Market Up Today?

Today’s market gains were primarily driven by positive developments on the trade front. The Trump administration signaled it would reduce the impact of automotive tariffs by alleviating some duties imposed on foreign parts in domestically manufactured cars. This news provided relief to automakers, with Ford rising 1.1%, Tesla gaining 0.8%, and General Motors up 0.9% ahead of its quarterly results.

“The market’s resilience reflects growing optimism that trade tensions might be easing,” said a market strategist. “Any pullbacks have turned to be buyable, and it appears the bulls are back in control of market direction.”

Earnings Season in Full Swing

Tuesday marked a busy day for corporate earnings, with several major companies reporting results. Among the notable reporters were Coca-Cola (KO), Pfizer (PFE), General Motors (GM), and Altria Group (MO).

After the closing bell, investors awaited results from Starbucks (SBUX), Visa (V), and Snap (SNAP), with options markets implying significant post-earnings moves for these stocks. Snap had the highest implied volatility, with options suggesting a potential move of approximately 19.5% in either direction following its report.

So far this earnings season, about 73% of S&P 500 companies that have reported have exceeded Wall Street expectations, slightly below the 5-year average of 77%.

Upcoming Market Catalysts

Investors are bracing for a data-heavy week alongside continued earnings reports. Key economic indicators on the horizon include consumer confidence and job openings data due later today, followed by first-quarter GDP figures on Wednesday and the crucial nonfarm payrolls report later in the week.

The market is particularly focused on upcoming earnings from technology giants. Four of the “Magnificent Seven” megacap stocks are scheduled to report this week: Microsoft (MSFT) and Meta Platforms (META) on Wednesday, followed by Apple (AAPL) and Amazon (AMZN) on Thursday. These reports could significantly influence market direction in the coming days.

Trade Tensions and Economic Outlook

Despite today’s gains, all three major indexes remain down for the year, with the S&P 500 on track to fall about 1.5% for April. The Dow and S&P 500 have tumbled more than 4% and 1% respectively this month, while the Nasdaq Composite has managed a modest gain of 0.4%.

Market participants continue to monitor U.S.-China trade negotiations closely. While recent developments have provided some relief, uncertainty remains a key factor influencing investor sentiment. Many companies have warned that new tariffs could impact their outlook, even as first-quarter earnings for S&P 500 companies are expected to rise 10.9% from a year ago – higher than early-April estimates of 7.8% growth.

Looking Ahead

As April draws to a close, market participants will be watching for additional clarity on trade policies and analyzing the impact of monetary policy on economic growth. With key economic data and high-profile earnings reports still to come this week, volatility may persist as investors position themselves for the start of May trading.

The market’s ability to maintain its recent upward momentum will likely depend on the strength of upcoming earnings reports, particularly from technology leaders, and any developments in the ongoing trade discussions between the United States and China.