Today’s Complete Market CoverageMarket Performance: Indexes Continue Upward Momentum
As of midday Thursday, April 24, 2025, major U.S. stock indexes are extending their winning streak for a third consecutive session. The S&P 500 has added 1.2%, while the tech-heavy Nasdaq Composite gained 1.7%. The Dow Jones Industrial Average is showing more modest gains, trading 0.5% higher, weighed down by IBM’s 6% drop.
This rally comes as investors continue to monitor developments on the global trade front, particularly regarding U.S.-China relations. The S&P 500 has rallied over 4% in the last two days, boosted largely by tariff-talk optimism, despite having slipped 4% since April 2 when new tariff policies were announced.
Tech Sector Leads the Charge
Technology stocks are driving today’s market gains, with shares of Nvidia, Meta, Amazon, Tesla, and Microsoft each trading approximately 2% higher. This sector has recently faced challenges due to the White House’s increasingly confrontational trade stance, particularly against China.
The tech rally comes despite China’s statement that no trade talks are currently taking place with the U.S. The Chinese Ministry of Commerce spokesperson He Yadong called for the cancellation of “unilateral” tariffs and dismissed claims regarding progress on bilateral talks.
Key Earnings Reports Today
Several major companies are reporting earnings today, which could significantly impact market sentiment:
Before Market Open: Bristol-Myers Squibb (BMY), Merck & Company (MRK), Nokia (NOK), PepsiCo (PEP), Procter & Gamble (PG), and American Airlines (AAL) have already released their quarterly results.
After Market Close: Highly anticipated reports from tech giants Alphabet (GOOGL/GOOG) and Intel (INTC), along with Gilead Sciences (GILD), will be released. Investors are particularly focused on Alphabet’s earnings for any warning signs of how tariffs could impact the business in the near future.
Notably, Intel’s report will be the company’s first under the leadership of its new CEO, Lip-Bu Tan, adding another layer of interest for investors.
Corporate News Impacting Markets
Comcast (CMCSA) reported strong first-quarter results this morning, with Adjusted EBITDA increasing 1.9% to $9.5 billion and Adjusted EPS increasing 4.5% to $1.09. The company generated $5.4 billion in free cash flow and returned $3.2 billion to shareholders through dividends and share repurchases.
IBM shares dropped 5% after the company revealed that 15 government contracts were impacted by cost cuts from the Trump administration.
PepsiCo cut its annual profit forecast amid trade war turmoil, while American Airlines pulled its 2025 outlook due to tariff uncertainty.
Trade Tensions and Economic Outlook
The market’s recent volatility stems largely from escalating trade tensions. The U.S. effective tariff rate has surged past levels reached more than 100 years ago, while tariff rates on U.S. goods have also increased.
According to the International Monetary Fund’s latest World Economic Outlook, global growth is projected to reach 2.8% this year and 3% next year, representing a cumulative downgrade of about 0.8 percentage points relative to their January 2025 update. This downgrade primarily reflects the impact of increasing trade tensions and uncertainty.
Looking Ahead: Market Events to Watch
Investors should keep an eye on upcoming economic data releases and policy decisions that could impact market performance. The Federal Reserve’s interest rate decisions remain a focal point, with expectations for additional rate cuts throughout the year.
Additionally, the grand opening of Universal’s Epic Universe theme park on May 22, 2025, is being closely watched as a potential economic indicator for the tourism and entertainment sectors.
As trade tensions continue to evolve and earnings season progresses, market volatility is likely to persist, with investors carefully monitoring both corporate performance and policy developments for direction.