Wall Street Starts Week on a Positive Note Despite Tech Stock Turmoil

Despite the turbulence in tech stocks, positive trends ultimately prevailed in two of the three major indices during today’s session (April 28, 2025). The technology sector weighed heavily on investor sentiment throughout much of the day as large companies are expected to announce their quarterly earnings this week. Meanwhile, ongoing trade negotiations uncertainty added to market volatility. Both Wall Street indices tied to technology—the purely tech-focused Nasdaq and the broader S&P 500—managed to limit initial losses (with Nasdaq briefly falling by as much as 1%), as investors await results from the ‘Magnificent Seven’ tech giants over the next few days. The broad U.S. stock index achieved modest gains, marking its fifth consecutive day of upward movement. By the close, the S&P 500 rose by 0.06%, the industrial Dow Jones gained 0.28%, while the Nasdaq recorded a slight drop of 0.1%. Corporate earnings for the previous quarter were largely strong, with 73% of companies exceeding analysts’ estimates so far—slightly below the five-year average of 77% according to FactSet data. However, Wall Street has tempered expectations for the second quarter and the year ahead due to uncertain guidance from companies regarding President Donald Trump’s tariffs. Treasury Secretary Scott Bessent offered limited clarity on potential progress toward a trade deal with China but emphasized that the burden does not fall solely on the U.S. On a positive note, Bessent mentioned advancements in other trade talks, hinting that an agreement with India could be among the first to materialize. He stated that it is up to China to de-escalate tensions given the significant trade imbalance. This week marks the end of April, which saw shares fluctuate widely following Trump’s tariff proposals and subsequent backtracking on some measures. As of now in April, the S&P 500 has declined more than 2%, sitting over 10% below its 52-week high reached at the end of February. The industrial Dow Jones is on track for nearly a 5% loss, while the Nasdaq has dropped almost 1%.