Track Markets Live NowThe stock market is showing strong momentum on Thursday, April 24, 2025, continuing a rally that began earlier this week after President Trump signaled a potential easing of trade tensions with China. Major indexes are building on their recent gains as investors react positively to shifting policy signals and prepare for key earnings reports.
Major Market Indexes Continue Upward Trend
As of midday trading, the Dow Jones Industrial Average has climbed approximately 800 points (2.0%), extending its recovery after gaining over 1,000 points on Tuesday. The S&P 500 is up 2.2%, while the tech-heavy Nasdaq Composite has surged 3.3%, reflecting particularly strong performance in technology stocks.
The market’s recent volatility stems from concerns about President Trump’s proposed tariffs, particularly the 145% duties on Chinese imports announced earlier this month. However, sentiment improved dramatically after Trump stated that current tariff rates are “too high” and “will come down substantially,” suggesting a more conciliatory approach to trade negotiations with China.
Tech Stocks Lead the Rally
The “Magnificent Seven” tech companies have added approximately $455 billion to their combined market capitalization over the past two days, recovering a significant portion of the $1.8 trillion lost since Trump’s initial tariff announcement on April 2.
Tesla (TSLA) is leading the charge with a 5% gain after CEO Elon Musk announced he would reduce his time working for the Trump administration. Nvidia (NVDA), Meta (META), and Amazon (AMZN) have each jumped around 4%, while Apple (AAPL), Google (GOOGL), and Microsoft (MSFT) are up in the 2% range.
These gains reflect investor relief that potential trade war escalation might be avoided, which is particularly significant for tech companies with substantial supply chain exposure to China. For instance, approximately 90% of Apple iPhones are manufactured in China, which accounts for 17% of the company’s revenue.
Key Earnings Reports to Watch
Investors are closely monitoring several important earnings releases scheduled for today, April 24. Most notably, Alphabet (GOOGL) will report its first-quarter results after market close, with analysts watching for continued growth in its advertising business and cloud computing segment.
ARMOUR Residential REIT (ARR) will also host its first-quarter earnings webcast today, following the release of its results after yesterday’s market close.
Upcoming Market Events
Looking ahead, several significant market events are on the horizon. Nvidia (NVDA), a key player in the AI chip market, is scheduled to report earnings on May 28, while other tech giants including Salesforce (CRM) and Lululemon (LULU) will report in early June.
Economic data releases in the coming days will also be crucial for market direction, as investors assess the potential impact of trade policies on inflation and economic growth.
Market Outlook
Despite the recent rally, the major indexes remain below their all-time highs reached in February 2025. The S&P 500 is still down 8.23% year-to-date, reflecting the significant volatility experienced since the beginning of the year.
Analysts remain cautiously optimistic about market prospects, with many suggesting that the easing of trade tensions could support continued gains. However, uncertainty persists regarding the Federal Reserve’s monetary policy and the potential long-term impact of any trade agreements with China.
As Treasury Secretary Scott Bessent noted, the US-China trade war is “unsustainable,” though he denied that the US would unilaterally slash tariffs on Chinese imports.
Investors should remain vigilant as market conditions evolve, particularly as more companies report earnings and provide guidance for the remainder of 2025.