📰 Market Recap — Rally Attempt Holds Steady
The stock market showed resilience on Tuesday, despite a mixed performance across major indexes. The Nasdaq pulled back slightly after facing resistance at its 21-day exponential moving average on Monday. Still, the overall tone remained constructive, with several growth leaders outperforming.
Among the top gainers were Netflix (NFLX) — set to report earnings Thursday after the close — and other tech and service names, including Palantir and ServiceTitan.
🌐 Global & Political Headlines
Tensions rose on the international stage as China instructed domestic airlines to halt new orders for Boeing aircraft and seek regulatory approval for existing deliveries. This move adds further pressure to the ongoing trade dialogue between Washington and Beijing, directly impacting Boeing (BA), which slipped over 1.5%.
Meanwhile, President Trump announced he is personally reviewing a range of trade proposals and may greenlight several agreements soon, according to White House sources. Markets reacted calmly, with volatility continuing to decline — the VIX now sits below 30, suggesting reduced near-term uncertainty.
💸 Financial Sector Strength
Earnings from major U.S. banks have impressed, buoyed by robust trading revenue driven by market volatility:
Bank of America (BAC) jumped nearly 4% after delivering better-than-expected Q1 results, thanks to strength in its markets and wealth management divisions.
Citigroup (C) climbed over 2.5% after posting strong earnings fueled by elevated trading activity.
Goldman Sachs (GS) rose over 1%, although the firm cut its S&P 500 year-end target to 5,200, citing the likelihood of persistent trade headwinds.
🔍 Stock Spotlights
Boeing (BA –1.58%): Shares declined following China’s move to restrict aircraft orders, a direct hit to the aerospace giant’s export business.
Hewlett Packard Enterprise (HPE +5.29%): Shares surged after Elliott Management disclosed a $1.5B stake and announced plans to work with management on boosting shareholder returns.
Johnson & Johnson (JNJ –0.63%): The company exceeded Q1 earnings forecasts and raised its full-year revenue outlook but flagged a potential $400 million hit from tariffs.
Dow Inc (DOW –3.81%): Dow sank following a rare double downgrade from Bank of America, citing worsening macroeconomic conditions and cost pressures from tariffs and feedstock inflation.
🔄 Corporate & Macro Notes
JPMorgan Chase (JPM –0.63%): CEO Jamie Dimon called for deeper trade engagement with China, proposing Treasury Secretary Scott Bessent lead negotiations.
Amazon (AMZN –1.38%): The e-commerce leader reached out to marketplace sellers for feedback on how tariffs are impacting sourcing, pricing, and logistics.
LVMH: The luxury titan reported a sales slowdown driven by softening demand in China and the U.S., even before the latest tariff developments.
🧠 Final Take
While markets appear to be stabilizing and volatility fades, trade developments remain a key driver. Investors will be watching earnings from Netflix on Thursday and ongoing signals from the White House as catalysts heading into the back half of April.
