From Nasdaq

April 23, 2025 1:13:00 pm:

Stock indexes surged today, with the S&P 500, Dow Jones, and Nasdaq all posting gains. Optimism about US-China trade relations and Trump’s comments on tariffs fueled the rally. US new home sales and manufacturing PMI reports also boosted stocks. Bitcoin rose to a 7-week high amid dollar weakness and trade tensions. Fed Chair Powell’s job security reassured investors.

Major US stocks like Tesla, Amazon, and Meta Platforms saw significant gains. Chip stocks soared on hopes of easing US-China trade tensions. Cryptocurrency-linked stocks also rose, reflecting Bitcoin’s price surge. Companies like Amphenol Corp and Boeing reported strong Q1 results, driving their stock prices up. Intel, Phillip Morris, and Boston Scientific also posted positive earnings news.

Overseas markets showed mixed results, with Euro Stoxx 50 and Nikkei Stock 225 up, but China’s Shanghai Composite down. Interest rates saw fluctuations, with T-notes initially rising but falling back later. European bond yields increased, while the Eurozone’s manufacturing PMI rose unexpectedly. ECB member Nagel warned of risks from US tariffs, and expectations for a rate cut at the ECB’s June meeting are high.

Earnings season is in full swing, with companies like Chipotle, IBM, and Texas Instruments reporting. The markets are closely watching corporate earnings and any changes in US trade policies. The upcoming Fed Beige Book release and economic reports will provide more insight into market trends. Overall, the markets remain volatile but hopeful amidst global trade tensions and economic uncertainties.

Read more at Nasdaq: Stocks Rally as China Trade Tensions Ease and Trump Softens Stance on Powell