S&P 500 INDEX (SPX) Live: Markets Shun Risk Amid Economic Hurdles
Key Points
-
The markets are lower across the board today, threatening to snap a six-day winning streak for the S&P 500.
-
Fears of an economic tsunami are weighing on market sentiment.
Live Updates
Q1 Earnings Surprises
The bulk of S&P 500 companies have now unveiled their Q1 earnings, and the consensus from FactSet data points to a largely impressive showing. Among those that have already reported, more than three-quarters (78%) of S&P 500 companies posted a positive EPS surprise, while close to two-thirds (62%) also beat their revenue projections. This positive trend, however, is tempered by a warning from JPMorgan CEO Jamie Dimon, who cautions that Wall Street’s earnings estimates on S&P 500 companies have further to decline given persistent tariff uncertainty. The SPX ETF remains lower by 0.42%.
Stock Market Outlook: BofA
According to Bank of America, investor sentiment regarding the wider stock market has seen an uptick. The Wall Street firm’s equity risk-love indicator, which showed deep panic just last month, has most recently registered a neutral position. Should the pattern persist, this positive change suggests that equities could soon move to challenge their all-time highs. The SPX ETF remains lower by 0.35%.
This article will be updated throughout the day, so check back often for more daily updates.
Markets began the day on a weaker footing today, largely giving back the slight advances seen yesterday. Yesterday’s session was notable for extending the S&P 500’s winning streak to six straight days, with both the Nasdaq Composite and Dow Jones Industrial Average also moving into positive territory. The SPX ETF is lower by 0.35% as of mid-morning trading.
Moody’s downgraded the U.S. debt rating, prompting Deutsche Bank to declare the U.S. economy is experiencing a “death by a thousand cuts.” But the outlook also suggests the U.S. economy is at the tail end of that downward spiral. Deutsche Bank’s Jim Reid wrote in a note,
“Yesterday felt like we were somewhere along the line of a ‘death by a thousand cuts’ with regards to the U.S. fiscal situation. Hard to know where in that thousand we are but probably much nearer a thousand than at zero even as yesterday saw an initial sell-off reverse as the session went on.”
Amidst the overall declines, Tesla (Nasdaq: TSLA) | TSLA Price Prediction stands out, gaining 3% and helping to cushion the drops in the Nasdaq Composite and S&P 500. Dow component Home Depot (NYSE: HD) has signaled it won’t be passing on tariff-related expenses to customers, a contrasting strategy to Walmart (NYSE: WMT), another Dow component, which had previously indicated such plans before the White House urged them otherwise.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Down 58.88 (-0.14%)
Nasdaq Composite: Down 59.95 (-0.31%)
S&P 500: Down 12.18 (-0.20%)
Market Movers
The quantum computing sector is making headlines, driven by D-Wave Quantum (Nasdaq: QBTS), which saw its shares jump by up to 20%. This surge follows the release of its latest quantum computing system, the Advantage2, now available through the cloud. The company highlights this as its most potent quantum offering to date, featuring improved energy performance and lower operational noise.
Dominion Energy (NYSE: D) is up 3.3% and inching closer to its 52-week high.
Norwegian Cruise Line (NYSE: NCLH) is losing 3.2% of its value.
Airbnb (Nasdaq: ABNB) is down 3.1% after Spanish authorities mandated the removal of numerous short-term rental listings.
Gerelyn Terzo is the author of dividend investing handbook "Dividend Investing Strategies: How to Have Your Cake & Eat It Too." A veteran financial journalist, she covers agri-finance for outlets like Global AgInvesting and the broader stock market and personal finance for 24/7 Wall Street. She began at CNBC and later helped launch Fox Business in New York. Gerelyn currently resides in Woodland Park, Colorado and dabbles in nature photography as a hobby.
© Chaay_Tee / iStock via Getty Images
Top Gaining Stocks
Top Losing Stocks