Market Recap – Wednesday, April 30, 2025
Markets Mixed as Economic Worries Persist: Focus on Trade, Earnings, and Growth Prospects
U.S. stocks ended the day mixed. The Dow and Russell 2000 were up, but the S&P 500 and Nasdaq saw small declines. After a slow start, the market picked up in the final minutes of trading, with the S&P 500 hitting its seventh straight day of gains. The market showed some ups and downs, but some sectors performed better than others.
Sector Performance
Industries like food, beverages, pharmaceuticals, and telecom had strong performances, with companies like Mondelez (MDLZ) and PPG Industries (PPG) leading the way. However, major tech companies, like Tesla (TSLA), were down. Other struggling sectors included energy, cars, and regional banks, which are still feeling the effects of trade issues and concerns about the economy.
Economic Data
Today’s economic data brought some worrying signs. The first look at the economy for Q1 showed it shrank by 0.3%. This is the first time the economy has contracted since 2022. However, personal spending was still up by 1.8%, though it was slower than the previous quarter. Also, private companies added fewer jobs than expected, with only 62,000 new jobs in April, well below the 134,000 forecast.
Trade and Earnings News
There was some positive news for the car industry, as the White House said it would reduce tariffs on auto parts. But, trade problems between the U.S. and China are still a major concern.
Companies are continuing to report earnings, with some doing well and others missing expectations. For example, Seagate Technology (STX) and Qorvo (QRVO) had strong results, but Snap (SNAP) and Super Micro Computer (SMCI) saw their stocks fall.
Notable Gainers
Wingstop (WING): +14.5%
Qorvo (QRVO): +14.4%
Seagate Technology (STX): +11.6%
XPO Inc. (XPO): +8.9%
Trane Technologies (TT): +8.5%
Notable Decliners
Bausch + Lomb (BLCO): -15.7%
Snap (SNAP): -12.4%
Super Micro Computer (SMCI): -11.5%
Werner Enterprises (WERN): -10.9%
Tenable Holdings (TENB): -9.2%
Here’s Our Take
Even though the market had some gains today, worries about trade problems and a slowing economy are still present. With recent data showing the economy shrank and job growth slowing, it's important to stay cautious. Keep an eye on the upcoming reports for more clues about the economy and adjust your investments as needed.
We will be watching more earnings reports and economic data as the week goes on, especially the April jobs report on Friday. Investors are looking for signs of stability in the economy and how the market will react to these updates.