S&P 500 and Nasdaq Extend Weekly Gains Amid Self-Inflicted Trade Policy Uncertainties

Barry Adams
25 Apr, 2025
New York City

Benchmark indexes in New York traded down after rallying for three consecutive session amid constantly shifting U.S. trade policy. 

The S&P 500 index decreased 0.2% and the Nasdaq Composite declined 0.3%, but both benchmark indexes are up 3.8% and 5.4% in the week as of close of Thursday. 

This week, and as in the last three weeks, market sentiment has reflected constantly changing U.S. trade policy and self-inflicted pain on the economy, and benchmark indexes are still down more than 14% from the highs in mid-February. 

The Trump administration's incoherent and chaotic stance on tariffs has rattled stock, bond and oil markets and pushed gold prices to record highs. 

Moreover, certainty of the Trump administration's uncertainty has dragged global economic growth outlook and significantly raised recession risks in the U.S. 

The Trump administration is using high levels  of import tax on U.S. consumers to generate an annual revenue of as much as $600 billion, none of which will be used to revive manufacturing activities and improve production capabilities. 

Next week, investors are looking ahead to earnings releases from leading tech companies including Apple Inc, Amazon.com Inc. Meta Platforms, and Microsoft. 

In the week ahead, investors are anticipating the release of the so-called JOLT report and non-farm payrolls. 

 

Commodities, Currencies, Indexes, Yields

The S&P 500 index decreased 0.3% to 5,469.63, the Nasdaq Composite edged down 0.2% to 17,130.36, and the Russell 2000 index was down 0.6% to 1,945.13.

The yield on 2-year Treasury notes edged lower to 3.80%, 10-year Treasury notes decreased to 4.29%, and 30-year Treasury bonds declined to 4.73%.

WTI crude oil decreased $0.34 to $62.45 a barrel, and natural gas prices edged lower by $0.04 to $2.89 a thermal unit.

Gold decreased by $83.02 to 3,266.02 an ounce, and silver edged down by $0.78 to $32.84.

The dollar index, which weighs the US currency against a basket of foreign currencies, increased by 0.39 to 99.75, and it traded at the lowest level since April 2022.

 

U.S. Stock Movers 

Intel Corp. declined 7.4% to $19.91 after the company's current quarter disappointed some investors. The advanced chip maker is planning to cut its operational capital expenses. 

Alphabet Inc Class C soared 4% to $167.93 after the parent company of Google search engine reported better-than-expected quarterly results. 

VeriSign Inc. declined 2.2% to $247.0 despite the internet infrastructure company reporting sharp increase in earnings and revenue in its latest quarter. The company also initiated quarterly dividend. 

Gilead Sciences decreased 3.3% to $102.64, and the biopharmaceutical company focused on antiviral drugs reported weaker-than-expected revenue in the first quarter.