In This Article:
Stocks fell Monday as Wall Street braced for a heavy week of earnings and watched for signs of progress in trade talks. The S&P 500 slipped 0.8%, while the Nasdaq Composite dropped 1.3%. The Dow Jones Industrial Average lost 136 points, or 0.3%.
Big Tech names weighed on the market. Amazon (AMZN, Financials) lost around 2%, Microsoft (MSFT, Financials) fell more than 1%, and Meta Platforms (META, Financials) and Apple (AAPL, Financials) each dropped nearly 1%. Nvidia (NVDA, Financials) and Tesla (TSLA, Financials) both fell more than 3%.
Earnings have been solid so far, with 73% of companies beating estimates, slightly below the five-year average, according to FactSet. Still, analysts are trimming forecasts for the second quarter and full year as companies issue cautious guidance amid President Donald Trump's tariff policies.
Treasury Secretary Scott Bessent told CNBC that China needs to move first to ease tensions, but noted progress with other trade partners, naming India as a likely early deal.
Markets have been volatile this month. The S&P 500 is down about 2% in April, more than 10% off its February high. The Dow has fallen more than 4%, and the Nasdaq is off nearly 1%.
Investors are awaiting key economic data this week, including GDP growth, inflation figures, and Friday's jobs report.
This article first appeared on GuruFocus.