Live S&P 500 (NYSEARCA: SPY): UBER (NYSE: UBER), GOOGL (Nasdaq: GOOGL) Rise in Market Breather

Key Points

The stock market is trading mixed after three straight days of gains, with the SPY on track for weekly gains.
GOOGL and UBER are bright spots in an otherwise mixed trading session.
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Wall Street Is Bullish on This Mag 7 Stock

Apr 25, 2025 at 1:13 PM EDT | Gerelyn Terzo

The SPY ETF is up about 0.55% on the day and can thank the technology sector for the gains. Alphabet (Nasdaq: GOOGL) has a 1.8% weighting in the index, and the stock is up 2% today. Wall Street analysts are turning more and more bullish on shares after the company’s better-than-expected quarterly results.

Bank of America is bullish on GOOGL, raising its price target to $200 per share, reflecting 22% upside potential in the stock.

Citi also raised its price target on GOOGL to $200, also suggesting further runway for gains.

Piper Sandler forecasts GOOGL price will hit $195, reflecting upside potential of 19%.

Wells Fargo analysts raised their price target on the stock to $175 with an “equal weight” rating, suggesting there’s 7% upside potential.

Four-Day Rally Within Sight

Apr 25, 2025 at 12:18 PM EDT | Gerelyn Terzo

The SPDR S&P 500 ETF (SPY) is posting fractional gains as the broader market index sets its sights on its fourth-straight winning session. Tesla (Nasdaq: TSLA) is rallying nearly 8% on the day and as a component in the SPY is helping to lift the ETF higher. Robo taxis are all the rage, and the Trump administration is easing regulatory guardrails for these vehicles to make their way into the mainstream.

Consumer Sentiment Surprises

Apr 25, 2025 at 11:29 AM EDT | Gerelyn Terzo

Consumers are more optimistic about the state of the economy than previously thought. The University of Michigan revealed its final reading on consumer sentiment, with the index rising to 52.2 compared with an initial forecast of 50.8. Economists were expecting no change in the index, which is down from March levels and has been weakening in 2025.

Companies on the earnings calendar for next week include Domino’s Pizza (NYSE: DPZ), Noble Corp (NYSE: NE), Transocean (NYSE: RIG) and Waste Management (NYSE: WM).

With three consecutive days of gains behind them, the markets are uncertain today, trading with a lack of conviction in either direction. Most recently, the S&P 500 has turned lower, with a fractional decline, amid a nervous Wall Street that is waiting for the next tariff shoe to drop. Technology earnings are in focus, with Mag 7 stock Alphabet (Nasdaq: GOOGL) trading independently of the pack with a 2.5% gain.

Uber (Nasdaq: UBER) is rising 2.8% on reports it will slash collision insurance costs in the state of California. The stock is inching closer to its 52-week high of $87 per share.

The Google parent company did warn that a trade loophole being closed by the Trump administration would create a “slight headwinds” for its ads business, which posted impressive growth in Q1. Alphabet has a nearly 2% weighting in the SPDR S&P 500 ETF (SPY).

Bank of America economist Michael Harnett is not buying into this week’s market rally, warning that the stock market sell-off has more to go. His advice is to sell on the stock market rallies and buy other assets like gold on the dips. Deutsche Bank is also cautious, cutting its S&P 500 year-end view to 6,150, down from a previous forecast of 7,000. Meanwhile, the S&P is on track for a positive week.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Down 152.92 (-0.39%)
Nasdaq Composite: Down 4.69 (-0.04%)
S&P 500: Down 7.94 (-0.13%)

Market Movers

T-Mobile (Nasdaq: TMUS) is sinking by 9.5% after reporting post-paid mobile subscriber numbers that fell short of analyst expectations. The company plans to pass along higher costs from tariffs to consumers.

Tech peer Intel (Nasdaq: INTC) is losing ground after warning that an economic recession is likely in the cards due to the tariff impact. The company also produced revenue guidance that fell short of consensus estimates.