How Big Tech Drove Wall Street’s Thrilling Week of Ups and Downs

Market Moves: A Week of Highs and Lows

Big Tech stocks played a crucial role in lifting Wall Street at the end of a week filled with mixed emotions. The S&P 500 climbed by 0.7%, continuing a strong three-day rally. It now sits just 10.1% below its record high from earlier this year. The Nasdaq composite soared by 1.3%, largely driven by significant gains from tech giants like Nvidia.

However, the day wasn’t all rosy. More stocks fell than rose within the S&P 500, and the Dow Jones Industrial Average barely moved, gaining only 20 points.

Alphabet, the parent company of Google, saw its stock rise 1.7% after it reported a surprising 50% profit jump for early 2025. This exceeded analysts’ expectations and highlights Alphabet’s dominance in the market. Nvidia, another tech powerhouse, surged by 4.3%, boosting the S&P 500 further.

In contrast, Intel faced a tough day. Despite reporting better-than-expected results, its stock plummeted 6.7% due to concerns over the “elevated uncertainty” in the industry. Analysts were left worried as Intel provided a disappointing forecast for future revenues.

Overall, nearly 60% of S&P 500 stocks ended the day in the red, including Eastman Chemical, which dropped 6.2% after its profit forecast failed to impress. CEO Mark Costa expressed concerns about increasing macroeconomic uncertainty and how tariffs could uncertainly affect future demand.

Skechers also withdrew its financial forecasts, citing similar concerns related to global trade policies, even after announcing a record revenue of $2.41 billion. This led to a 5.3% decrease in its stock.

Many companies are reporting that Trump’s tariffs create significant challenges in predicting future performance. Stocks rebounded mid-week after hopes emerged that Trump might soften his trade stance, which was previously worrisome for investors. A rollback of some tariffs could potentially prevent a recession.

Yet, the unpredictability of these tariffs is causing businesses to rethink spending and investment plans. According to Brian Jacobsen, chief economist at Annex Wealth Management, “Small businesses especially feel the pinch. They lack the resources to adapt as quickly as larger firms.”

In overall market performance, the S&P 500 rose by 40.44 points, closing at 5,525.21. The Dow increased by 20.10 points to 40,113.50, while the Nasdaq jumped by 216.90 to 17,382.94.

International markets showed modest gains, with European indexes advancing after mixed results in Asia. In the bond market, Treasury yields fell slightly, with the yield on the 10-year Treasury dropping to 4.25%, down from 4.32%.

Recent data points to a declining sentiment among U.S. consumers. According to a University of Michigan survey, consumer expectations plummeted 32% since January, marking the biggest three-month drop since the recession of the 1990s.

The U.S. dollar has remained stable against other currencies, slowly recovering from losses that previously unsettled investors.

For more insights into stock market trends, check out trusted financial news platforms like Reuters.

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Financial markets, NVIDIA Corp., Intel Corp., Donald Trump, Economic policy, General news, FinancialBusiness, Business, Brian Jacobsen, Eastman Chemical Co., Alphabet, Inc., Mark Costa, World news, Federal Reserve System, World News