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Live S&P 500 (NYSEARCA: SPY): Markets Hunt Direction in Tech-Heavy Earnings Week
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Key Points
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The markets are showing a lack of conviction in either direction as they process the latest tariff progress and upcoming technology earnings.
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Wall Street analysts are bullish on META ahead of its midweek earnings print.
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Market Movers
The markets continue to show reservations about trade deal progress, as all three of the major stock market averages remain under pressure, including a 0.76% drop in the S&P 500 after a winning week. Here are some of today’s market movers:
Domino’s Pizza (Nasdaq: DPZ) is down 1% today after weaker-than-expected Q1 revenue.
Nvidia (Nasdaq: NVDA) is falling almost 4%, dragging the tech sector lower with it.
Boeing (NYSE: BA) is gaining 2% on a bullish report out of analyst firm Bernstein.
Plug Power (Nasdaq: PLUG) is soaring 26.9% on the day after announcing it has secured a $525 million credit facility.
Market Gains Fade, Fear Rises
The broader markets have turned lower in the absence of further details on any trade talks. With tech earnings in the forecast, the markets are also playing it safe rather than factoring in better-than-expected results. Goldman Sachs believes that the companies that favor returning shareholder value in the form of cash dividends or stock buybacks will prove to be the winners over those investing in growth in this cycle. The Wall Street firm previously estimates that S&P 500 corporate spending will increase 5% in 2025 compared with previous estimates calling for 11% growth.
The VIX volatility index, which has earned a reputation as the stock market’s fear gauge, is up 5.3% today, suggesting investors are expecting a bumpy ride in the coming weeks.
Mixed Markets
The markets are mixed in what is shaping up to be a major week for stocks. Washington, D.C. has hinted toward progress on trade deals but appears to be holding out for China to make the next move. Big Tech earnings from the likes of Apple (Nasdaq: AAPL), Amazon (Nasdaq: AMZN) and Meta (Nasdaq: META) are due out in the coming days. If Google parent Alphabet’s (Nasdaq: GOOGL) results are any indication, they could unleash gains and give the Mag 7 stocks their groove back in 2025. The April jobs report is due out on Friday, which will give the Federal Reserve another indication of the health of the economy before they convene in May. President Trump recently revealed that Fed Chair Jerome Powell’s job was safe.
The markets have wavered from early gains in what is shaping up to be an indecisive day of trading. Signs suggest that the tariff wars are easing, with Treasury Secretary Scott Bessent forecasting new trade agreements as soon as this week while also placing the burden on China to de-escalate tensions between Beijing and Washington, D.C. Meanwhile, Magnificent Seven names will be taking the earnings spotlight this week, adding doses of both excitement and caution in these uncertain times. If it’s any indication, last week, Google parent company Alphabet (Nasdaq: GOOGL) reported better-than-expected Q1 results.
Stocks have distanced themselves from from a “Liberation Day” low reached earlier this month where the S&P 500 shaved off approximately 20% from its recent high. The S&P 500 has tacked on 7.1% over the past five-day period. Big Tech stocks on deck for earnings this week include Microsoft (Nasdaq: MSFT), Amazon (Nasdaq: AMZN), Meta Platforms (Nasdaq: META) and Apple (Nasdaq: AAPL). Morgan Stanley Chief Equity Strategist Michael Wilson told Bloomberg the weak U.S. dollar will serve as a positive catalyst for corporate America’s earnings and will buoy the U.S. stock market ahead of international equities.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 203.08 (+0.51%)
Nasdaq Composite: Down 15.81 (-0.09%)
S&P 500: Up 9.70 (+0.18%)
Market Movers
Intel (Nasdaq: INTC), which is a component in both the S&P 500 and Nasdaq Composite, is adding 4% today as a standout performer today.
Cruise stocks are rising, with Carnival (NYSE: CCL) and Norwegian Cruise Lines (NYSE: NCLH) each up over 3%.
Bernstein is bullish on Dow stock Boeing (NYSE: BA), upgrading shares to an “outperform” rating from “market perform” as the company’s restructuring efforts pay off.
Bank of America has reiterated its “buy” rating on Meta in anticipation of the company’s quarterly results on Wednesday. Analysts are confident Mark Zuckerberg’s company will reach its revenue targets.
IBM (NYSE: IBM) is up 1.1% and has designated $150 billion to advance U.S. tech innovation.
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