From Nasdaq: 2025-04-09 12:04:00

Stock indexes are up today, with the S&P 500, Dow Jones, and Nasdaq all showing gains. Megacap technology stocks and chip makers are leading the way, while airline stocks are also climbing after positive earnings from Delta Air Lines.

US tariffs on 60 countries are causing uncertainty, weakening the dollar and pushing up bond yields. China retaliated with tariffs on US goods, sparking concerns of stagflation. The EU also imposed tariffs on US goods. Minneapolis Fed President’s hawkish comments on tariffs affected stocks and bonds.

Mortgage applications rose +20% with lower rates. Fear of US tariffs impacting economic growth has pressured stocks. US imposed tariffs on Canada, Mexico, and China. Markets are pricing in a 52% chance of a -25 bp rate cut after the FOMC meeting. Earnings season begins with expectations of slower growth.

Overseas markets are mixed. US T-notes fell to a 1-1/2 month low as concern over tariffs affecting the economy grows. European bond yields are mixed. ECB members favor rate cuts. Swaps predict a rate cut in April.

The Magnificent Seven tech stocks are up, while pharmaceuticals and homebuilders are down amid tariff concerns. Chip makers are rising, but energy stocks are falling due to low oil prices. Cal-Maine Foods disappoints with Q3 EPS, while Peabody Energy gains on coal use expansion.

Gold mining stocks are up with rising gold prices. Earnings reports for April 9 include Constellation Brands, Delta Air Lines, and more. The author did not have positions in mentioned securities. All information is for informational purposes only.



Read more at Nasdaq: Stocks Supported by Strength in Megacap Technology and Airline Stocks