The three major US stock indices recorded mixed results at the close of trading on Monday, April 29. After fluctuations during the session, ranging from positive to negative, the Dow Jones Industrial Average closed with gains, while the technology sector index, the Nasdaq, closed with slight losses. Markets awaited corporate and financial results, led by tech giants.
With no economic data released during the opening session, optimism remained dominant in stock markets, despite the lack of complete clarity regarding trade negotiations, especially between the world’s largest economies, Beijing and Washington. This was exacerbated by statements from US Treasury Secretary Bill Clinton, who said that China had shown a willingness to de-escalate tensions. In a related development, some reports indicate that the Trump administration will soon announce steps to mitigate the impact of tariffs on the US auto industry. This confirms a previous Wall Street Journal report, which indicated that auto manufacturers that pay 25% tariffs will not be required to pay additional tariffs, such as those related to steel and aluminum. Expectations indicate that the 25% tariff on imported auto parts will be adjusted, and it is likely that Trump will announce tariff changes before his speech today, Tuesday, in Michigan, marking the 100th day of his presidency.

This week, markets are awaiting several economic data releases from the US economy, led by the US labor market figures at the end of the week and the Federal Reserve’s preferred inflation indicator, the Consumer Spending Index. In addition, several companies and financial institutions will announce their first-quarter earnings results, led by four of the major technology companies included in the Magnificent Seven list (Amazon, Apple, Microsoft, and Meta), along with other companies such as Coca-Cola, McDonald’s, Visa, Starbucks, General Motors, Chevron, and Exxon Mobil. In terms of stock movements in the opening session, Boeing stock led the Dow Jones Industrial Average gains, rising by more than 2% after Bernstein raised its target for Boeing stock to $218 from $181, in addition to Airbus’ agreement with Spirit Aerosystems, which opened the door to a re-merger of Spirit with Boeing. Meanwhile, the Round Hill Magnificent Seven Fund, which tracks the Group of Seven leading industrial companies, fell by 1.27% following opening-session declines in Amazon shares by 1.27%, Microsoft shares by 0.30%, Nvidia shares by 3.40%, Tesla shares by 1.36%, and Alphabet shares by 1.74%.
The Dow Jones Industrial Average closed up approximately (114) points at 40,227, with gains of approximately 0.28%. It is currently trading in futures for today’s session, Tuesday, at 35,391, up approximately 23 points. The S&P 500 index recorded slight gains at the close of trading at 5,528, up about 0.06%, and is currently trading in futures at 5,555, up about two points. The Nasdaq index fell 16 points to close at 17,366, recording losses of about 0.10%. It is currently trading in futures up about 18 points.