Wall Street Indexes Flatline as Investors Review Earnings Dominate

Barry Adams
28 May, 2025
New York City

Wall Street indexes hovered near the flatline as investors reviewed the fresh batch of earnings, but traders remained cautious amid constantly changing trade policy. 

The S&P 500 index edged down 0.01%, the tech-heavy Nasdaq Composite inched up 0.02%, and investors reacted to earnings from leading retailers. 

Abercrombie & Fitch, Dick's Sporting Goods, and Macy's reported results that met or exceeded investor expectations. 

Market volatility has remained high amid the constantly changing Trump administration's trade policy, compounded by the expectations of a sharp escalation in federal government debt.  

Investors are struggling to look beyond tariff uncertainty, but the rising yields on the U.S. Treasury bonds have dampened market mood. 

Moreover, the U.S. Treasury auction of bonds is also drawing additional scrutiny amid wavering confidence in the Trump administration.  

 

U.S. Stock Movers 

Okta Inc. plunged 10.6% to $112.25, and the identity company reported better-than-expected results in the first quarter. 

However, the company retained its annual outlook, citing macroeconomic uncertainty, disappointing some investors. 

Vail Resorts Inc. soared 10.9% to $168.04 after the ski resort operator announced that the company's former chief executive, Robert Katz, has returned to the role.

Katz replaces the current chief executive, Kirsten Lynch, who has resigned from the office and from the board. 

Box Inc. jumped 10% to $34.75 after the cloud storage company's fiscal first quarter results surpassed market expectations. 

In addition, the company's second quarter and full-year outlooks were ahead of analysts' expectations. 

Macy's Inc. rose 4.6% to $12.58, and the department store operator reported better-than-expected first-quarter earnings. 

But the retailer lowered its annual earnings outlook, citing macroeconomic and tariff uncertainties. 

Dick's Sporting Goods jumped 5% to $183.0, and the sporting goods retailer retained its annual revenue and earnings per share outlook, even including tariff effects. 

The guidance “reflects our strong start to the year and confidence in our strategies and operational strength while still acknowledging the dynamic macroeconomic environment,” said Lauren Hobart, chief executive. 

Abercrombie & Fitch soared 26% to $98.68 after the specialty retailer reported better-than-expected first-quarter revenue of $1.10 billion and earnings per share of $1.59. 

The company also trimmed its annual guidance, citing tariff and macroeconomic uncertainties.