Market Watch: S&P 500 Holds Steady as Tech Stocks Lead Rally on May 15, 2025

Based on the information gathered, I’ll now write the requested article about today’s stock market.

Major Indexes Show Mixed Performance Amid Ongoing Trade Developments

The stock market showed mixed performance on Thursday, May 15, 2025, as investors continued to assess the impact of recent U.S.-China trade developments and digest key earnings reports. The S&P 500 is holding relatively steady after turning positive for the year earlier this week, marking a significant recovery from March lows. The tech-heavy Nasdaq Composite continues its winning streak, while the Dow Jones Industrial Average shows modest pressure.

As of midday trading, the S&P 500 is up slightly by 0.04% at 5,888.79, the Nasdaq Composite has gained 0.57% to 19,117.54, while the Dow Jones Industrial Average has dipped 0.24% to 42,040.21. This mixed performance comes after a strong rally earlier in the week following the announcement that the U.S. and China had agreed to slash tariffs that had been imposed on one another.

Tech Stocks Continue to Lead Market Momentum

Technology stocks remain the primary driver of market strength, with semiconductor and AI-related companies showing particularly robust performance. Nvidia (NVDA) has extended its recent rally, rising over 3% in today’s trading session, firmly establishing its market capitalization above the $3 trillion mark. The chipmaker has benefited from thawing trade tensions and new chip deals with Saudi Arabia.

Other notable tech performers include:

– Super Micro Computer (SMCI), which has surged approximately 17.5% today, building on yesterday’s 16% gain after Raymond James initiated coverage with an “Outperform” rating.
– Advanced Micro Devices (AMD), up nearly 5% following reports of a $10 billion deal with Humain, an AI startup backed by Saudi Arabia’s sovereign wealth fund.
– Tesla (TSLA), which has gained over 4% as the company explores alternative compensation packages for CEO Elon Musk.

Key Earnings Reports Driving Market Activity

Today marks a significant day for earnings reports, with several major companies releasing their quarterly results. Walmart (WMT) and Alibaba Group (BABA) are among the most anticipated reports, with both companies scheduled to release earnings before market open.

Other notable companies reporting earnings today include:

– Applied Materials (AMAT), expected to report after market close
– Deere & Co (DE), reporting before market open
– Siemens AG (SIEGY), which released Q2 2025 earnings this morning
– Deutsche Telekom AG (DTEGY), reporting Q1 2025 results

Investors are closely watching these reports for insights into consumer spending patterns, global trade impacts, and forward guidance amid the evolving economic landscape.

Upcoming Economic Data and Market Events

Market participants are awaiting the release of April’s Producer Price Index (PPI) data, which will provide additional insights into inflation trends. The latest Consumer Price Index (CPI) report showed inflation pressures eased over the month despite President Trump’s tariffs taking effect, with the annual rate of inflation hitting a four-year low in April.

New data on April retail sales, also expected today, will offer a glimpse into whether the U.S. economy can sustain shocks from the president’s fast-changing trade policies. These economic indicators will be crucial for investors trying to gauge the Federal Reserve’s path for interest rates, with markets currently pricing in the first 0.25% rate cut in September.

Market Sentiment and Outlook

The overall market sentiment remains cautiously optimistic, bolstered by the recent U.S.-China trade developments and encouraging inflation data. The S&P 500’s return to positive territory for 2025 represents a remarkable turnaround just over a month after it had plunged to yearly lows amid President Trump’s tariff moves.

However, challenges remain on the horizon. The yield on the 10-year Treasury note, which affects borrowing costs on various personal and business loans, has risen to around 4.5%, its highest level in more than two months. Additionally, companies continue to assess the potential impact of tariffs, with some like Sony (SONY) cautioning about significant headwinds from these trade measures.

As the trading day progresses, investors will be closely monitoring earnings reports, economic data releases, and any further developments in international trade relations that could influence market direction in the coming days and weeks.