S&P 500 INDEX (SPX) Live: Stocks Stuck in Doldrums Until Economy Does This
Key Points
- The markets remain under pressure as they hold out for trade deal details while Federal Reserve meets to determine the fate of interest rates.
- Ford revealed the impact of tariffs on its 2025 profits, and it isn’t pretty.
- Finding the best credit card just got a lot easier. We’ve assembled a list of cards with unlimited cash back, $200 statement credits, $0 fees, and more. See the list for yourself.(sponsored)
Live Updates
Get The Best Live Earnings Coverage Like This Every Quarter
Get earnings reminders, our top analysis on , market updates, and brand-new stock recommendations delivered directly to your inbox.
Trade Deal Doubts
President Trump met with Canada’s PM Mark Carney at the White House, shifting the narrative on trade deals. He emphasized that the U.S. is under no obligation to sign agreements. Instead, he suggested that the ball is in the court of U.S. trade partners to sign them. U.S. Treasury Secretary Scott Bessent has been hinting toward progress on the trade deal front for weeks. The markets remain lower across the board, including a 300-point drop in the Dow Jones Industrial Average.
Wall Street Upgrades and Downgrades
Goldman Sachs has reiterated its “neutral” rating on EV stock Tesla (Nasdaq: TSLA) while remaining bullish on its autonomous driving offering, pointing to China as Tesla’s biggest market opportunity.
BMO analysts have begun coverage of e-commerce platform Shopify (Nasdaq: SHOP) with a bullish “outperform” rating.
JPMorgan has turned sour on Sweetgreen (NYSE: SG), lowering its rating from “overweight” to “neutral” due to softening demand and executional issues.
The markets remain lower across the board, with all three of the major stock market averages down less than 1%.
Economists Expect Rates to Hold Steady
Wells Fargo economists have published a forecast on what to expect from this week’s FOMC meeting. They pointed to “soft” data that is sending a warning signal on the economy while hard data from the tariff impacts is inconclusive. Therefore, the economists expect the Fed to hold interest rates steady, writing, “We expect the FOMC will leave its target range for the federal funds rate unchanged at 4.25%-4.50% at this week’s meeting.”
This article will be updated throughout the day, so check back often for more daily updates.
The markets are stuck in the doldrums this week as they await the Federal Reserve’s decision on interest rates and greater clarity on international trade deals. The SPX index is off 1.1% amid a broader market decline in which the Nasdaq Composite is falling 1% and the Dow Jones Industrial Average is spiraling by over 300 points. The markets are likely to continue on this one step forward, two steps back pace until the economy signals that it is in the clear from tariffs and the Fed starts lowering interest rates.
Hedge fund tycoon Paul Tudor Jones warned that the stock market had not yet reached a bottom and will continue to sell-off even if the White House lowers tariffs on China imports to 50%, according to CNBC.
Ford (NYSE: F) reported its Q1 results, revealing the impact of the tariffs on the hard-hit auto sector. Ford is bracing for a $1.5 billion tariff hit in 2025, in response to which the company is holding off on performance guidance for the year.
Here’s a look at where things stand as of morning trading:
Dow Jones Industrial Average: Down 256.94 (-0.62%)
Nasdaq Composite: Down 181.85 (-1.02%)
S&P 500: Down 43.83 (-0.78%)
Market Movers
Palantir Technologies (Nasdaq: PLTR) as erased $40 billion in market capitalization today amid a 14.4% precipitous drop in the stock price. The company reported Q1 results that surpassed Wall Street estimates but showed weakness in international sales. CEO Alex Karp has changed his mind about selling shares amid what has been a white-hot stock price. On the AI front, OpenAI has canceled plans to transition to a for-profit entity. Elon Musk’s xAI has partnered with Palantir and investment firm TWG to bring AI more prominently into the financial services realm.
Toy company Mattel (NYSE: MAT) has reportedly warned that toy manufacturing isn’t likely to rush to the USA but price increases will reach the consumer. The stock is up fractionally today.
Lemonade (NYSE: LMND), an AI-driven life insurance provider, is up 4.2% today after beating quarterly revenue estimates despite operating at a loss.
Constellation Energy (Nasdaq: CEG) is rising 6.6% on the day, bucking the downward trend on the heels of its Q1 results.
© Fahroni / Shutterstock.com
Top Gaining Stocks
Top Losing Stocks