Key Points
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The stock market continues to make gains because investors see trade policy becoming less aggressive.
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The rally today is cooler than the rally yesterday, but stocks have made big moves regardless.
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It is earnings season after all, so there’s plenty of action in the markets.
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The stock market has been extending gains due to a cooldown in tariffs being applied. The administration now seems to be more focused on containing the fallout, as some carmakers have been made exempt from tariffs, and Trump is also considering relieving Chinese auto parts suppliers from tariffs.
Still, President Trump said his administration may disclose new tariff amounts for some trading partners, including China, within the next “two or three weeks.”
No notable tariffs have been slapped yet, and that is contributing to speculation that the worst of the trade war may be behind us. The broader market is ticking up, and tech stocks are leading the rally.
Here’s a market update as of 11:00 A.M (ET) today.
- The S&P 500 is up 68.69 points, or 1.28%.
- The Nasdaq Composite is up 297 points, or 1.77%.
- The Dow Jones Industrial Average is up 262.86 points, or 0.66%.
Tech Stocks Making Big Moves
- ServiceNow (NYSE: NOW) made a big move to the upside, which is up over 14% as of writing. The company posted solid Q1 results and this was followed by TD Cowen putting a $1,100 price target on NOW stock. EPS rose 18% to $4.04, and revenue rose 18.5% to $3.09 billion. This is compared to analyst estimates of EPS at $3.83 and revenue of $3.08 billion.
- Texas Instruments (NASDAQ: TXN) gained 6.2% after solid Q1 results. It reported Q1 revenue of $4.07 billion and EPS of $1.28. Analysts expected $3.91 billion in revenue and EPS of $1.07.
- Fiserv (NYSE: FI) was the biggest loser among big companies and fell 15%. Its Q1 2025 report showed adjusted revenue below Wall Street expectations.
- IBM (NYSE: IBM) was also a loser today and declined 6%. This is despite the company reporting figures that were above Wall Street’s expectations. Adjusted EPS came in at $1.6, and sales were at $14.54 billion. Analysts expected $1.42 adjusted EPS and revenue at $14.39 billion. The stock fell due to a top executive saying the operating environment was uncertain due to DOGE cuts.
Notable Gainers Today
- Ardagh Metal Packaging S.A. (NYSE: AMBP) is up 29.4% after reporting strong Q1 2025 results and declaring quarterly dividends. Revenue came in at $1.27 billion vs. the $1.17 billion estimate, whereas EPS outperformed by a cent.
- Pony AI (NASDAQ: PONY) extended gains and is up 27.4% due to its unveiling of a seventh-generation robotaxi fleet that cuts costs by 70%.
- IMPINJ (NASDAQ: PI) is up 16% after surpassing Q1 earnings estimates. EPS of $0.21 exceeded the $0.09 estimate. Revenue of $74.3 million also surpassed the forecast of $71.83 million.
- Hasbro (NASDAQ: HAS) is up 15.4%. It posted better-than-expected Q1 results. Adjusted Q1 EPS came in at $1.04 and beat the FactSet estimate of $0.67.
- Lufax Holding (NYSE: LU) is up 15.3%. The company gave updates on its efforts to resume trading on the Hong Kong Stock Exchange.
Notable Losers Today
- TAL Education Group (NYSE: TAL) is down 17% after earnings and margins missed expectations. EPS of $0.01 missed estimates by $0.08.
- Churchill Downs (NASDAQ: CHDN) is down 16%. It missed earnings and revenue estimates. EPS of $1.07 missed estimates of $1.08.
- Goosehead Insurance (NASDAQ: GSHD) is down 14%. It disappointed in Q1 earnings.
- Nokia Oyj (NYSE: NOK) is down 10.8% after citing tariff-related losses in Q1.
- Alaska Air Group (NYSE: ALK) is down 9.4% after reporting lower-than-expected profits in its second-quarter report.
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