Last week, the S&P 500 (^gspc) Nasdaq composites fell about 1.5% (^ixic) and the Dow Jones Industrial Average (^dji) Each flowed about 2.6% over the four days of the transaction.
A week ago, President Trump’s policies focused on, but many S&P 500 companies are expected to report quarterly results.
Alphabet Results (googl, Goog), Tesla (TSLA),chipotle pepper(CMG), Boeing (ba), and Verizon (VZ) is set to lead the week where quarterly reports from over 120 S&P 500 companies are expected to be released.
A quiet week is expected in terms of economic data, with updates on activities in the manufacturing and services sector, as well as consumer sentiment headlines the calendar.
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Nearby: April 17th, 4:55:21pm EDT
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Trump’s policies remain at the forefront of the market narrative.
on wednesdaywhen investors began to see Trump’s costs, the market was sharply sold Customs It will have for the large companies and the challenges these policies may present for the broader US economic outlook.
The sale was kicked off by Nvidia (NVDA), which one It was revealed late Tuesday night New restrictions from the US government on chip exports to China would lead to a $5.5 billion bill.
The bottom-facing actions only escalated when Federal Reserve Chairman Jerome Powell said in a speech by the central bank. They’ll wait for “more clarity” Before considering interest rate adjustments.
“This is this continuous level of uncertainty in the market,” Sylvia Jablonski, CEO and Chief Investment Officer of Defiance ETFS, told Yahoo Finance.
In recent times, Strategists are not sure the path ahead will become clearer. Stuart Kaiser, head of City’s US equity trading strategy, told Yahoo Finance that market direction will be important for the coming weeks until the months of the summer.
“We need to see some good news, especially on the tariff front with our major trading partners,” Kaiser said.
“If you get it, I think the market will say it’s a playbook about how it will evolve over the next three months,” he added. “I think if you don’t get it, the market really needs to increase the chances of a recession with the view that these tariffs will be implemented higher than they wanted and longer.”
President Trump was in the White House in Washington, DC on March 11, 2025, with Media and Tesla cars next to Tesla CEO Elon Musk in the background. Reuters/Kevin Lamarck/File Photo ・Reuters/Reuters
Only 12% of S&P 500 companies have reported first quarter revenue so far, but early sampling is weaker than average.
According to Factset data, 71% of S&P 500 companies report earnings per share above Wall Street estimates, which averaged below 77% over five years. And those companies are below forecast than usual.
In the early stages of the revenue season, companies outperform analyst expectations by 6.1%, lower than the beat average of 8.8% for five years.
With over 20% of the S&P 500 reported a week ago, investors can get a much better sense of how these trends hold, improve, or even worse.
“In the end, the importance of Q1 reporting periods is included in the information we provide about what is priced on a single share as C-Suites begins to provide tariff context.”
The alphabet and Tesla are “The Magnificent Seven” High-tech stocks that highly valued the market in 2023 and 2024.
That transaction has deteriorated so far this year. Alphabet’s stocks fell nearly 20% until it began in 2025, while Tesla is over 40%.
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Nearby: April 17th at 4:02pm EDT
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Although market action has been choppy these days, the S&P 500 has increased by around 6% since the recent year, the lowest on April 8th.
Still, many Wall Street strategists are not sure the next short-term movement in the market will be higher.
In a note to clients Thursday, Truist co-chief investment officer Keith Lerner wrote that he is downgrading his views on U.S. stocks from neutral to “unattractive.” Essentially, it’s a recommendation that investors are considering underweight allocations to US stocks compared to typical allocations.
Lerner noted that weakening the outlook for economic growth is one important part of the Murkier forecast for stocks. “Looking at the combination of historical, fundamental and technical analysis suggests that the weight of the evidence is guaranteed to be slightly defensive,” Lerner said.
The consensus forecast for US gross domestic product (GDP) has been declining throughout 2025.
But now, as President Trump’s tariffs have heightened fears of a recession, strategists are wondering whether expectations for consensus growth have fallen sufficiently.
“I don’t know if the stock market is handling a significant amount of potential recession,” Callie Cox, a strategist at Ritholtz Wealth Management Chief Markets, told Yahoo Finance.
Economic data: Richmond Fed Manufacturing Index, April (previously -4)
Revenue: Tesla (TSLA), Capital 1 (COF), enphase energy (Enf), ge aerospace (ge), Halliburton (Hal), Lockheed Martin (LMT), sap (Sap), steel dynamics (stld), Verizon (VZ))
Economic data: S&P Global US Manufacturing PMI, April reserve (before 50.2); S&P Global US Services PMI, April reserve (before 54.4); S&P Global US Composite PMI, April reserve (before 53.5); Monthly sales of new home sales in March (1% is expected, previously 1.8%). Fed releases Beige Book
Revenue: chipotle pepper(CMG), Alaska Airlines Group (alk), AT&T (t), Boeing (ba), ge vernova (GEV), IBM (IBM), Las Vegas Sands (LVS), Newmont (do not have), nextera energy (knee), O’Reilly Automotive (Orly), Philip Morris International (PM), serviceNow (now), Texas instruments (txn), vertiva (VRT))
Economic data: First unemployment claim, the week ending April 19th (previously 215,000). Chicago Fed National Activity Index, March (previously 0.18); Durable Product Orders, March Reserve (1.5%, previously 1%); Durable Product Orders from Transport, March Reserve (0.3%, previously 0.7%); Capital Goods Order, Non-Defense Excluding Air, March Reserve (+0.2%, previously -0.2%); Existing Home Sales, Monthly March (-3.1%, previously -3.1%, previously 4.2%). Kansas City FED Manufacturing Activities (previously -2)
