Wall Street ends higher on tech boost, easing tariff tensions

Wall Street ends higher on tech boost, easing tariff tensions

By Stephen Culp

Thu April 24, 2025 4:20 PM

For the third day, optimism over the hoped-for easing of trade relations with China boosted the market into once-again substantial 3-digit gains with the tech sector helping considerably since tech and particularly AI depends so much on China.  As today’s expert put it, “Part of the reason you’re seeing the chips lead is because they’ve been kind of in the bulls-eye in the trade dispute with China.” But, not to be too optimistic, “There’s still a ton of questions around tariffs right now that we really don’t have answers to. So a lot of us are just kind of throwing darts in the dark.”  

Q1 is revealing the extent to which tariffs are impacting business and consumer sentiment as a number of prominent companies have cut or withdrawn forecasts due to the uncertainties. 157 companies have now reported with 74% beating estimates. S&P Q1 earnings growth now stands at 8.9% which has grown from 8.1% just in the last three days, but still down from 12.2% in January. Jobless claims fell and durable goods rose indicating continued economic resilience. Volume came in at 14.95 billion, still well below the 4-week average of 19.15 billion. 

DJ: 39,606.57  +419.59      NAS: 16,708.05  +407.63      S&P: 5,375.86  +88.10         4/23

DJ: 40,093.40  +486.83      NAS: 17,166.04  +457.99      S&P: 5,484.77  +108.91       4/24

Thu 4-24-25 4:20 pm Wall Street ends higher on tech boost, easing tariff tensions | Reuters