Complete Market OverviewBased on the information gathered, I’ll now create a comprehensive market recap article for April 24, 2025.
Major Indexes Continue Upward Momentum on April 24
The U.S. stock market extended its winning streak to a third consecutive session on Thursday, April 24, 2025, as investors remained optimistic about potential progress in U.S.-China trade relations despite conflicting signals. The tech-heavy Nasdaq Composite led the charge, climbing 1.7% to close at 16,996.60, while the S&P 500 added 1.2% to finish at 5,441.76. The Dow Jones Industrial Average lagged behind but still managed a gain of 0.55%, rising 217.42 points to 39,823.99.
The market rally came despite China’s Ministry of Commerce spokesperson He Yadong stating that there were no trade talks currently taking place with the U.S. and calling for the cancellation of “unilateral” tariffs. This contradicted earlier statements from Treasury Secretary Scott Bessent, who had suggested the U.S. has an “opportunity for a big deal” on trade.
Tech Giants Power Market Higher
The “Magnificent Seven” tech stocks continued their recovery, adding more than $840 billion to their cumulative market capitalizations since Monday’s close. Nvidia (NVDA) led the group with a 2.6% gain, while Tesla (TSLA), Microsoft (MSFT), and Google (GOOG) each rose nearly 2%. Meta (META) and Amazon (AMZN) climbed more than 1%, while Apple (AAPL) posted a modest gain of less than 1%.
The tech sector has been particularly volatile in recent weeks as investors assess the potential impact of President Trump’s aggressive trade policies, especially the 145% tariff on Chinese imports. Despite the recent rally, all of the Magnificent Seven stocks remain down year-to-date.
“I don’t trust the move,” said Ross Mayfield, investment analyst at Baird. “China overnight was pretty explicit that there were no negotiations ongoing. Perhaps the market is still feeling some confidence that at least the administration is talking about wanting a deal, as opposed to digging in and raising tariffs to insane rates.”
Notable Stock Movers
Several companies made significant moves following earnings reports:
– ServiceNow (NOW) surged 15% after delivering stronger-than-anticipated first-quarter results. CFO Gina Mastantuono expressed confidence in the company’s “ability to navigate these rapidly evolving times.”
– Hasbro (HAS) jumped 16.15% to lead the S&P 500 gainers.
– Texas Instruments (TXN) rose 6% after reporting first-quarter earnings of $1.28 per share on revenue of $4.07 billion, handily beating analysts’ expectations.
– IBM weighed on the Dow with a 7.24% decline.
– Procter & Gamble (PG) fell 5.17% and PepsiCo (PEP) dropped 3.56%, with PepsiCo cutting its annual profit forecast amid trade war turmoil.
Upcoming Market Events
Investors are closely watching a packed earnings calendar, with several major companies set to report results in the coming days. Google parent Alphabet (GOOGL) is scheduled to announce earnings after the closing bell today, while Microsoft, Meta, Apple, and Amazon will report next week.
Tomorrow (April 25) will see key earnings reports from:
– Procter & Gamble (PG), with analysts expecting earnings per share of $1.54, representing a 1.32% increase compared to the same quarter last year.
– Merck (MRK), projected to report earnings per share of $2.16, a 4.35% increase year-over-year.
– PepsiCo (PEP), with consensus estimates of $1.50 per share, a 6.83% decrease from the same period last year.
Market Outlook and Economic Indicators
Despite the three-day rally, the broader market remains significantly lower since April 2, when President Trump announced his new tariff policy. Since then, the S&P 500 has declined 4%, the Dow has fallen 5.7%, and the Nasdaq has lost 3.6%.
Economic data released today included initial jobless claims for the week ending April 19, durable goods orders for March, and existing home sales figures. Investors are analyzing these reports for clues about the economy’s resilience amid trade tensions and to gauge the Federal Reserve’s likely policy path.
What’s Next for Markets
As the week draws to a close, market participants remain cautious about the sustainability of the current rally. The conflicting messages regarding U.S.-China trade negotiations continue to create uncertainty, while the ongoing earnings season provides a more concrete assessment of corporate America’s health.
With major tech earnings on the horizon and continued speculation about potential changes to tariff policies, volatility is likely to persist in the coming weeks. Investors should stay alert to statements from administration officials and monitor corporate guidance for insights into how companies are adapting to the evolving trade landscape.
The market’s recent resilience suggests investors are hopeful for a resolution to trade tensions, but as one analyst noted, the “Sell America” trade may only be on pause rather than permanently reversed.