U.S. Markets Mixed as Investors Brace for Big Earnings, Economic Data – April 28, 2025

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.