Overview of Wall Street Performance
On Thursday, the three major indices on Wall Street are poised for gains as investors assess a series of mixed quarterly earnings and monitor the ongoing trade war between the United States and China.
- Dow Jones Industrial Average: Up 0.66% to 39,866.15 points
- S&P 500: Up 1.32% to 5,446.94 points
- Nasdaq Composite: Up 1.81% to 17,010.91 units
Influential Factors Driving Market Movement
The White House reported that the U.S. government is open to reducing broad tariffs for China, and President Donald Trump stepped back from his attacks on Federal Reserve Chair Jerome Powell, boosting the indices.
However, optimism waned when Treasury Secretary Steven Mnuchin stated that there would be no unilateral measure to reduce tariffs, while Beijing dismissed progress in negotiations and responded that Washington must eliminate all tariffs.
The lack of clarity makes it difficult for investors to evaluate the impact of shifting stances. “Tariffs continue to have a powerful effect on confidence, and the government is wavering between reversing course and continuing,” said Matt Gertken of BCA Research.
Economic Data and Company Performance
In economic data, new applications for unemployment benefits in the U.S. increased last week as expected by analysts. Another report showed that orders for durable goods rose more than anticipated in March.
Among the companies, shares of Tesla (+2.29%) are rising despite the company’s Tuesday report showing annual drops in sales, operating profit, and margins. The boost comes from Elon Musk’s announcement of reducing his government work responsibilities.
- Tech Giants:
- Nvidia (+2.93%): The AI-focused tech star
- Microsoft (+2.43%)
- Amazon.com (+2.13%)
- Alphabet (+1.57%)
- Meta Platforms (+1.49%)
- Apple (+0.69%)
Key Questions and Answers
- Q: What are the major indices’ performance on Wall Street?
A: The Dow Jones Industrial Average is up 0.66% to 39,866.15 points, the S&P 500 is up 1.32% to 5,446.94 points, and the Nasdaq Composite is up 1.81% to 17,010.91 units.
- Q: What factors are influencing the market movement?
A: Investors are assessing mixed quarterly earnings and monitoring the U.S.-China trade war, with recent signals from the White House and President Trump contributing to market gains. However, uncertainty remains due to conflicting statements from Treasury Secretary Steven Mnuchin and Beijing.
- Q: How are recent economic data reports affecting the market?
A: New unemployment benefit applications in the U.S. increased as expected, while orders for durable goods rose more than anticipated in March.
- Q: Which companies are experiencing notable stock performance?
A: Despite annual drops in sales, operating profit, and margins, Tesla shares are up 2.29%. Tech giants like Nvidia (+2.93%), Microsoft (+2.43%), Amazon.com (+2.13%), Alphabet (+1.57%), Meta Platforms (+1.49%), and Apple (+0.69%) are also seeing positive performance.
