U.S. Markets Mixed as Investors Brace for Big Earnings, Economic Data – April 28, 2025
Index Performance
- Dow Jones Industrial Average: +0.3% → 40,227.6 (5-day winning streak)
- S&P 500: +0.1% → 5,528.8 (5-day winning streak)
- Nasdaq Composite: -0.1% → 17,366.1
Sector Overview
- Top Gaining Sectors:
- Utilities: +0.7%
- Real Estate: Modest gains
- Biggest Losing Sector:
- Technology: -0.3%
Top Gainers – S&P 500
AbbVie (ABBV): +3.4%
- Q1 earnings and sales beat expectations.
- Strong performance from Skyrizi (skin treatment) and Rinvoq (rheumatoid arthritis).
- Raised full-year profit guidance.
- Warned of potential tariff risks.
Top Losers – S&P 500
Erie Indemnity (ERIE): -4.0%
- Largest drop in the S&P 500.
- Revenue beat forecasts, but EPS missed.
- Rising costs in IT, staffing, and service impacted margins.
Nvidia (NVDA): -2.1%
- Biggest decliner on the Dow.
- Pressure from reports that Huawei is testing a new AI chip aimed at replacing some Nvidia products.
Colgate-Palmolive (CL): -3.1%
- Q1 sales and profit beat forecasts.
- Cut full-year outlook due to tariffs and global economic uncertainty.
Earnings Season Outlook
- Major reports expected this week from:
- Apple, Microsoft, Meta, Amazon
- McDonald’s, Visa, Coca-Cola, Pfizer
- S&P 500 companies have so far beaten expectations, with Q1 earnings up ~18% YoY.
- Analysts initially projected only 6.8% YoY earnings growth (Bloomberg).
Commodities & Bonds
- 10-Year Treasury Yield: ↓ 6 bps → 4.25%
- 2-Year Treasury Yield: ↓ 7.5 bps → 3.69%
- WTI Crude Oil: ↓ 1.8% → $61.88/barrel
- Gold: ↑ 1.9% → $3,361.10/oz
- Silver: ↑ 0.2% → $33.09/oz
Global Trade Update
- No active U.S.–China trade talks, according to China’s Monday statement.
- U.S. maintains a firm stance, citing China’s need to de-escalate tensions.
- President Trump earlier announced new tariffs, with a 90-day pause for non-retaliating countries.