TLDR
- Major tech companies (Apple, Microsoft, Meta, Amazon) will report quarterly earnings this week alongside other major corporations
- President Trump’s 100th day in office falls on Wednesday, April 30th
- Key economic indicators including April jobs report, PCE inflation data, and Q1 GDP will be released
- Trade policy and tariffs remain key market concerns, especially affecting tech companies with China exposure
- Markets showed positive movement last week with S&P 500 up 2.7% as trade tensions eased
The upcoming week promises to be packed with market-moving events as major tech companies report earnings, President Trump marks his 100th day in office, and key economic indicators are released. Investors will be watching closely as these factors could determine market direction heading into May.
Several of the world’s largest companies are set to report quarterly results in what will be one of the busiest earnings weeks of the season. Four of the “Magnificent Seven” tech giants – Microsoft, Meta Platforms, Apple, and Amazon – will deliver their financial reports, potentially moving markets in either direction.
Apple, the world’s most valuable public company by market capitalization, reports on Thursday amid fresh concerns about Trump’s tariff policies. About 90% of Apple’s products are manufactured in China, making the company particularly vulnerable to trade tensions. However, Apple’s stock rose last week after being included among tech companies that would be exempt from some tariffs.
Trade Tensions and Corporate Impact
Amazon, also reporting Thursday, faces scrutiny after being downgraded by Raymond James analysts over its China trade exposure. Microsoft’s Wednesday report will be closely watched after its Intelligent Cloud segment underperformed in the previous quarter. Meta Platforms, reporting the same day, continues to deal with an FTC antitrust court case.
Beyond tech, the earnings calendar is crowded with reports from companies across various sectors. Energy giants ExxonMobil, Chevron, and Shell will report on Friday, with Exxon already warning that lower oil prices could hurt its results. Consumer-focused companies Coca-Cola, McDonald’s, and Starbucks will provide insight into consumer health.
Financial sector reports include Visa, Mastercard, HSBC Holdings, UBS, and PayPal. Cryptocurrency investors will focus on MicroStrategy’s Thursday report, following wider-than-expected losses last quarter from the bitcoin-buying company.
Economic Indicators in Focus
The week brings several key economic reports that could influence Federal Reserve policy decisions. Friday’s April jobs report will be closely watched after March showed a surprising jump in job creation despite a slight rise in unemployment. The Personal Consumption Expenditures (PCE) report for March, the Fed’s preferred inflation measure, comes after February’s reading met expectations but remained above the central bank’s 2% target.
Wednesday marks President Trump’s 100th day in office, coinciding with the release of first-quarter GDP data. The previous quarter’s GDP growth fell short of expectations. Trump has increased pressure on Fed Chair Jerome Powell regarding interest rate policy, though he confirmed he has no plans to fire Powell.
Market Sentiment Improving
U.S. markets rallied last week, with the S&P 500 rising 2.7%, the Nasdaq Composite advancing 3.0%, and the Dow Jones Industrial Average adding 2.2%. This positive movement came as trade tensions eased and concerns about Fed independence cooled.
Treasury yields have stabilized within the expected 4.0%-4.5% range. The S&P 500 has climbed 10% from its April low but remains about 10% below its February peak, suggesting continued volatility without final trade agreements.
Consumer confidence data on Tuesday and the advanced trade balance report will provide further insights into early impacts of tariff policies. Housing market health will be assessed through the home price index and pending sales reports.
With over 60% of S&P 500 companies reporting by week’s end, this stretch will be pivotal for determining corporate sentiment and market direction heading into May.
Technical Analysis
Analyst Trader Edge noted that the S&P 500 rallied more than 8% last week, reaching a critical resistance level. Looking ahead, he outlined two potential paths. On the bullish side, if the index can break above the key $550 level and turn it into support, we could see a move toward $275. On the flip side, a rejection at current levels might lead to a pullback toward the $529 support zone. With a packed week of earnings reports and economic data on deck, it should be an interesting week – buckle up!
$SPY rallied over 8% last week, testing a key resistance level on Friday
Two possible scenarios for next week…
🟢 Flip $550 into support and push up towards $275
🔴 Reject from $550 and test support at $529$SPX $ES pic.twitter.com/PaLIL9fhSP— Trader Edge (@Pro_Trader_Edge) April 27, 2025
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