Real-Time Stock Market UpdatesBased on the information gathered, I’ll now write a comprehensive stock market recap article for May 28, 2025.
Major Indexes Retreat Slightly After Tuesday’s Rally
U.S. stock markets pulled back slightly on Wednesday, May 28, 2025, as investors adopted a cautious stance ahead of two significant market catalysts: Nvidia’s highly anticipated earnings report and the release of minutes from the Federal Reserve’s May meeting.
The Dow Jones Industrial Average fell 0.2% while the S&P 500 also declined 0.2%. The Nasdaq Composite showed similar restraint, slipping 0.1%. This modest retreat follows Tuesday’s strong performance when all three major indexes surged, with the Dow gaining over 740 points (1.78%), the S&P 500 climbing 2.05%, and the Nasdaq jumping 2.47%.
Tuesday’s rally was fueled by President Donald Trump’s weekend announcement delaying the implementation of previously threatened 50% tariffs on European Union imports until July 9, allowing time for negotiations between the White House and EU officials.
Markets Focus on Nvidia’s Earnings Report
All eyes are on Nvidia (NVDA), which is scheduled to release its quarterly earnings after today’s market close. The AI chipmaker is expected to report a 66.2% surge in first-quarter revenue, according to data compiled by LSEG. Despite consistently beating analyst expectations in recent quarters, Nvidia shares have fallen following each of its last three earnings reports.
“There’s kind of wait and see for Nvidia earnings tonight, which have become one of the big macro market movers both because of the leverage to the AI trade and the AI theme and also because of the linkages to global trade,” said Ross Mayfield, investment strategist at Baird.
Nvidia shares were up 0.3% in today’s trading at around $136, with options markets bracing for potential industry-wide volatility following the report.
Fed Minutes and Monetary Policy Outlook
Investors are also awaiting the minutes from the Federal Reserve’s May 6-7 meeting, scheduled for release at 2 p.m. ET. The Fed maintained its policy interest rate at 4.25% to 4.50% during that meeting, and the minutes may provide insight into how firmly policymakers are holding onto their current wait-and-see approach amid economic uncertainties.
Richmond Fed President Tom Barkin recently described the current economic environment as “driving through fog,” highlighting the challenges in navigating competing narratives about inflation and employment amid shifting global trade rules.
New York Fed President John Williams emphasized that central banks must “respond relatively strongly” when inflation begins to deviate from their target, given the high uncertainty around the economic impact of U.S. tariffs and trade policy.
Notable Stock Movements
Several individual stocks made significant moves on Wednesday:
– Stellantis (STLA) named Antonio Filosa as its new CEO, as the world’s fourth-biggest automaker seeks to turn around its performance, boost its flagging share price, and recover lost U.S. market share. Filosa, previously the company’s North American chief operating officer, will take over on June 23.
– Macy’s (M) rose 1.5% after reporting better-than-expected quarterly results, though the retailer cut its annual profit forecast as tariffs loom over consumer demand.
– Capri Holdings (CPRI), parent of luxury brands such as Michael Kors and Jimmy Choo, fell 4.6% after reporting a wider-than-expected quarterly loss.
– Abercrombie & Fitch (ANF) shares soared nearly 20% following its earnings report.
– Tesla (TSLA) gained 0.9% in early trading, building on Tuesday’s momentum when the stock hit its highest level since early February.
– Fannie Mae and Freddie Mac OTC shares climbed as President Trump prepares to take the firms public, with the U.S. government retaining guarantees.
Market Outlook and Upcoming Events
Despite recent volatility, U.S. equities are on track for robust monthly gains, with the S&P 500 and Nasdaq set for their best monthly showing since November 2023. This performance has been driven by easing concerns around global trade, upbeat earnings, and tame inflation data.
The S&P 500 is now about 4% off its record closing high reached on February 19, having fallen as much as 18.9% below that level following President Trump’s tariff announcements earlier this year.
Bitcoin was trading at around $107,300 on Wednesday, down from its all-time high of $112,000 reached last week—its first record since just before Trump’s inauguration in January.
Yields on long-dated U.S. government bonds were slightly higher, with the benchmark 10-year Treasury note yield up marginally at 4.44%. Global bond markets have been in the spotlight lately over concerns about fiscal sustainability in major economies including the United States and Japan.
As markets navigate through this period of uncertainty, investors will be closely monitoring developments in trade negotiations, central bank communications, and corporate earnings reports in the coming weeks to gauge the direction of the economy and potential policy shifts.