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Live S&P 500 (NYSEARCA: SPY): Markets Stay Mostly Positive Before Fed Does This

By Gerelyn Terzo Updated May 7, 2:24PM EDT · Published May 7, 11:11AM EDT

Key Points

After coming out of the gate higher, stocks have turned mixed. The U.S. and China could be making progress on trade talks.
The markets are awaiting comments and tone from the Federal Reserve as well as any potential move on interest rates.
Read: If you follow markets closely, Kalshi lets you profit directly from being right about what comes next.

Live Updates

Fed Leaves Rates Unchanged Amid Economic Uncertainty

May 7, 2025 at 2:25 PM EDT | Gerelyn Terzo

The Dow has recovered, reversing a 200-point loss after the Federal Reserve left interest rates unchanged. But the economy is not out of the woods, as a perfect storm of tariffs, inflation and possible stagflation remain. While the Dow has recovered, the S&P 500 and Nasdaq Composite remain under pressure as the markets await comments from Fed Chairman Jerome Powell. Here’s a look at where things stand:

Dow Jones Industrial Average: Up 102.24 (+0.24%)
Nasdaq Composite: Down 126.19 (-0.71%)
S&P 500: Down 11.91 (-0.23%)

Tariff-Proof Stocks

May 7, 2025 at 12:18 PM EDT | Gerelyn Terzo

Wolfe Research has reportedly identified a cohort of companies that are seemingly equipped to weather the tariff storm based on encouraging earnings results. The firm’s chief investment strategist Chris Senyek likes the following stocks:

Meta Platforms (Nasdaq: META | META Price Prediction)

Netflix (Nasdaq: NFLX), whose shares are hitting new highs today.

Citigroup (NYSE: C)

JPMorgan Chase (NYSE: JPM)

The markets remain in wait-and-see mode until the FOMC emerges from their meeting this afternoon.

S&P 500 Earnings Upside

May 7, 2025 at 11:12 AM EDT | Gerelyn Terzo

With roughly 75% of S&P 500 companies having reported earnings results, the trend is clearly positive. The majority (76%) of Q1 profits have surprised to the upside, while over 60% of them have beaten revenue estimates, according to Factset. First-quarter earnings growth is nearing 13%, placing the index on track for its second straight quarter of double-digit percentage earnings growth.

This article will be updated throughout the day, so check back often for more daily updates.

After coming out of the gate higher across the board, the markets have turned mixed as uncertainty sets in once again on trade deal progress and interest rates. The Federal Reserve is set to wrap up its two-day meeting on monetary policy today, making a determination on interest rates. If Bank of America economists are correct, there won’t be any interest rate cuts until mid-summer, which may already be built into the markets. The Dow Jones Industrial Average and S&P 500 have trimmed earlier gains while the Nasdaq Composite has turned lower.

Nevertheless, signs suggest buying demand for equities is back based on fund flow data. David Marlin of Marlin Capital stated that “U.S. equities benefitted from $61B+ of mechanical/systematic flows last week,” adding that the trend is poised to continue.

U.S. Treasury Secretary Scott Bessent is out front again, making comments on the state of the world’s financial system.

Dow stock Walt Disney (NYSE: DIS) is boosting market sentiment, tacking on over 10% after reporting earnings and revealing a blueprint for a theme park in Abu Dhabi. Streaming stocks Netflix (Nasdaq: NFLX) and Spotify (NYSE: SPOT) are trading at fresh all-time highs.

Magnificent Seven stocks are a mixed showing. Tesla (Nasdaq: TSLA) revealed EV sales slowed in China. There is excitement around its robotaxi service set to launch in Texas next month.

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

Dow Jones Industrial Average: Up 128 (+0.31)
Nasdaq Composite: Down 24.04 (-0.12%)
S&P 500: Up 5.98 (+0.11%)

Market Movers

Medical research equipment stock Charles River Labs (NYSE: CRL) is today’s winner, soaring by 21% after reporting strong Q1 results. The company reported a better-than-expected profit of $25.5 million on revenue of $984.2 million, also beating consensus estimates.

Uber (NYSE: UBER) stock is a loser, declining 1.5% today on signs of revenue weakness, including a precipitous 18% drop in Q1 trips compared with year-ago levels. The company is looking ahead to the opportunity in autonomous driving technology.

Novo Nordisk (NYSE: NVO) is tacking on 3% on expectations for weight loss drug Wegovy demand. The company lowered its 2025 outlook but the markets do not appear to be worried.

EV maker Rivian Auto (Nasdaq: RIVN) is up 2% after reporting its Q1 results despite expectations that tariff impacts will cut into demand.

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About the Author Gerelyn Terzo →

Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.