Tue Apr 29 03:10:00 UTC 2025: **US Stocks Mixed as Earnings Season and Economic Data Loom**
NEW YORK (Yahoo Finance) — Wall Street closed mixed on Monday, with the Dow Jones Industrial Average eking out a small gain (0.3%) extending its winning streak to five days, while the S&P 500 ended nearly flat, and the Nasdaq Composite dipping slightly. The market’s performance reflects a period of uncertainty as investors digest a week packed with significant economic data releases and heavyweight corporate earnings reports.
The gains come after a strong rebound last week, fueled by President Trump’s easing of pressure on the Federal Reserve and hints of potential tariff relief on Chinese imports. However, Treasury Secretary Scott Bessent reiterated that de-escalation hinges on China’s actions, while acknowledging recent exemptions on some US goods as a positive sign.
This week’s key focus is on earnings from major companies like Apple, Amazon, Meta, Microsoft, Coca-Cola, Eli Lilly, and Chevron, alongside crucial economic indicators. Investors are closely watching Wednesday’s release of the Personal Consumption Expenditures (PCE) index – the Fed’s preferred inflation gauge – and the initial reading of first-quarter GDP. The April jobs report, which is also expected this week, will provide further insights into the health of the labor market.
Adding to the uncertainty, data from the Port of Los Angeles indicates a significant drop (36%) in incoming shipments compared to the previous year, raising concerns about a potential cooling of the US economy and subsequent price increases. This coincides with comments from RSM chief economist Joe Brusuelas who points to port activity as an early warning sign of economic slowdown.
Meanwhile, oil prices fell over 2% due to economic uncertainty and concerns about increased supply from OPEC. Gold prices, however, edged higher, recovering from a recent decline. The market reacted negatively to news of Huawei developing its own advanced AI chip, causing Nvidia’s stock to drop, and Tesla shares also saw a decline after a strong week.
The Dallas Fed’s manufacturing survey also revealed its lowest activity level since May 2020, highlighting the negative impact of tariff uncertainty on various sectors. Business leaders cited delays, cancellations, and potential job losses due to tariffs.
Despite the mixed signals, many analysts remain bullish on gold in the long term, anticipating continued upward trajectory due to global economic pressures. The overall mood reflects cautious optimism, with investors awaiting further clarity on trade negotiations and the economic implications of ongoing tariffs. Domino’s Pizza’s disappointing earnings, featuring a decline in same-store sales, further contributed to the market’s cautious tone.
First Piper 