Economic Disruption Rooted In Trump Tariffs Begin to Show Up In Corporate Outlook

  • Barry Adams
  • U.S.A. New York City
  • Apr 29, 2025
  • The S&P 500 index and the Nasdaq Composite struggled to gain traction after advancing in five consecutive sessions. General Motors joined the list of several other companies in withdrawing its annual outlook amid unprecedented economic uncertainties ignited by the Trump administration.

    Stock market indexes in New York struggled to advance after rising for five consecutive sessions. 

    The S&P 500 index decreased 0.3%, and the Nasdaq Composite declined 0.4% as investors awaited earnings from leading tech companies this week. 

    About 200 companies are scheduled to release quarterly results this week, including Apple Inc., Amazon, Microsoft, and Meta Platforms. 

    Stocks of leading tech companies could face headwinds despite reporting results that may surpass market expectations amid uncertainties induced by the Trump administration's trade policy. 

    The key trade partners of the U.S., including Canada, Mexico, Japan, and the European Union, are likely to target tech companies in retaliation for the Trump administration's high import taxes. 

    On the economic front, investors are awaiting the release of the JOLT report on Tuesday and nonfarm payrolls on Friday, and they could provide early clues about how the labor market is adjusting to the sharp increase in import taxes.  

     

    U.S. Stock Movers 

    F5 Networks added 0.7% to $263.35, and the cloud-based application security company reported better-than-expected revenue and earnings in the fiscal second quarter. 

    General Motors decreased 2% to $46.23, and the vehicle maker reported better-than-expected earnings and revenues in the first quarter. 

    The automotive company is reviewing its annual earnings outlook because of the uncertainties linked to the constantly changing trade policy of the Trump administration, and the company is suspending its stock buyback.

    Leggett & Platt soared 14.5% to $8.35, and the diversified manufacturer of engineered components reaffirmed its annual outlook. 

    The company stressed that the Trump administration's tariff could benefit but cautioned that weakening consumer confidence and the resurgent inflation could hurt demand. 

    Woodward, Inc. jumped 3.2% to $187.41, and the aerospace parts maker reported strong results for the fiscal second quarter. 

Annual Returns

Company Ticker 2025 2024 2023
F5 Networks Inc FFIV 3% 41% 16%
General Motors Company GM -2% 46% -7%
Leggett & Platt Incorporated LEG -2% -63% -22%
Woodward Inc WWD 2% 24% 42%