April 28, 2025:
U.S. stock futures traded largely flat on Monday as investors prepared for a high-stakes week filled with key economic data releases, major corporate earnings, and potential new developments in U.S. trade policy under President Donald Trump.
The three major stock indexes — the Dow Jones, S&P 500, and Nasdaq — closed last week with gains, while the Russell 2000 small-cap index posted its best weekly performance since November. Hopes for easing U.S.-China trade tensions helped buoy investor sentiment, though mixed signals from Washington and Beijing have kept markets cautious.
U.S. stock futures Focus on Wall Street Earnings: Magnificent Seven in Spotlight
This week, over 180 S&P 500 companies are set to report their Q1 earnings, including tech giants Apple, Microsoft, Amazon, and Meta Platforms, collectively known as the “Magnificent Seven.”
So far, earnings season has been stronger than expected. According to LSEG IBES, S&P 500 earnings are now projected to rise 9.7% year-over-year, up from the earlier forecast of 8%. Of the 179 companies that have already reported, nearly 72.6% have exceeded analyst expectations.
However, many corporations, including Procter & Gamble and American Airlines, have flagged concerns about the uncertainty stemming from new tariffs, with some revising or withdrawing their profit forecasts entirely.
Key Economic Data to Watch
Investors are also bracing for critical economic data, including:
- Monthly U.S. payrolls report
- Gross Domestic Product (GDP) data
- Personal Consumption Expenditures (PCE) price index
These indicators will provide deeper insights into how new trade tariffs are affecting economic growth, inflation, and the labor market.
U.S. Stock Futures Today
As of 5:40 a.m. ET:
- Dow E-minis rose by 20 points (0.05%)
- S&P 500 E-minis slipped 3.5 points (0.06%)
- Nasdaq 100 E-minis fell by 6.75 points (0.03%)
Market Sentiment and Trump’s Trade Policy Impact
This week also marks 100 days since President Trump took office. While Trump’s early days fueled an equity rally on hopes of pro-business policies and deregulation, the momentum has since faded. The S&P 500 is now down over 4% since the November election and more than 10% off its February highs, largely due to fears over new trade policies and market disruptions.
Stock to Watch: Tesla
Among individual movers, Tesla shares continued their rally, gaining 2.3% after surging nearly 10% in the previous trading session.
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