Market Whiplash: Tariffs, Earnings & a Housing Surprise
This week was a rollercoaster for the markets. From early-week sell-offs to a mid-week rally, investors had plenty to digest.
Monday, April 21st
Markets opened the week with a sharp drop. Tariff tensions rattled investors, sending the VIX up 10% and the “Magnificent Seven” tech names lower. Still, a few standouts held strong:
Discover (DFS) gained 3% on Capital One merger approval
FIS rose 4% after acquiring Global Payments’ issuer business
Global Payments (GPN) dropped 3% amid Worldpay-related concerns
Tuesday, April 22nd
The rebound began. Stocks bounced back, with GE Aerospace up 4% on a strong earnings beat. Tesla (TSLA) rallied 5% ahead of its report, while Verizon (VZ) dipped 1% despite an earnings beat due to subscriber losses. Meanwhile, the IMF cut its 2025 global growth forecast to 2.8% citing tariff pressures.
Wednesday, April 23rd
Markets surged over 3% midday after President Trump eased tariff rhetoric and reaffirmed support for Fed Chair Powell. Notable movers:
Tesla soared another 8% as Elon Musk committed more time to the company
Boeing (BA) jumped 7% after narrowing losses and selling off a business unit
AT&T ticked up 1% thanks to strong subscriber growth and buybacks
Housing data surprised: New home sales reached 724K (best since May 2023), with median prices down 7.5% to $403,600
What’s Next?
This week’s strong breadth may hint at a broader bullish shift. Keep an eye on earnings from tech giants and more economic data on deck.
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