The S&P 500 ended its nine-day winning streak on May 5 after President Trump announced a 100% tariff on movies produced outside the U.S., adding to market uncertainty. Despite concerns about trade tensions and the upcoming Federal Reserve policy decision, Skechers surged 24.3% after a major buyout deal, while Netflix and Amazon struggled. Investors are closely watching for signs of progress in trade negotiations and potential rate cuts from the Fed.
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Daily Market Snapshot: April 28, 2025
The S&P 500 ended a choppy session nearly unchanged, with megacaps like Nvidia and Amazon dragging the index lower. Investors are closely watching earnings reports from major companies like Apple, Meta, and Amazon, which could provide crucial insights into the impact of trade tariffs on future profits. With geopolitical risks and uncertainties in U.S.-China relations, the market remains volatile as investors await key economic data, including the U.S. payrolls report on Friday.