US close: Dow reverses Monday's losses on trade war optimism
By Iain Gilbert
Date: Tuesday 22 Apr 2025
(Sharecast News) - Major indices closed sharply higher on Tuesday as traders grew optimistic that US-China trade tensions could ease soon.
At the close, the Dow Jones Industrial Average was up 2.73% at 39,210.93, while the S&P 500 advanced 2.82% to 5,303.85 and the Nasdaq Composite saw out the session 2.71% firmer at 16,300.42.
The Dow closed 1,040.52 points higher on Tuesday, reversing losses recorded in the previous session amid heightened tensions between the White House and the Federal Reserve Bank as Donald Trump branded Jerome Powell a "major loser" and economic advisor Kevin Hassett stated the administration was currently looking into his possible "termination".
Stocks closed higher on Tuesday, with the blue-chip Dow Jones snapping a four-session losing streak as news broke that Treasury Secretary Scott Bessent had said there "will be a de-escalation" in the White House's trade war with China. "No one thinks the current status quo is sustainable," he said.
However, Bessent also stated that if America was to walk out the door of negotiations and sign "something in two or three years that looked like that", he reckons that could be considered "a huge win".
On Tuesday's macro slate, the Richmond Federal Reserve's manufacturing index plummeted to -13 in April, down from March's -4 reading and far worse than analysts' estimates of -6, with the shipments index falling to -17 from -7 and new orders dropping from 5 to -17.
In the corporate space, Verizon earnings came in ahead of Wall Street estimates, as did quarterly figures from Lockheed Martin and 3M, while Halliburton fell short of Q1 earnings estimates despite reporting revenues that topped expectations.
After the close, Tesla reported quarterly earnings that missed expectations on both the top and the bottom line, with adjusted earnings per share of $0.27 on revenues of $19.34bn, short of analyst estimates of $0.34 per share and $21.11bn.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
3M Co. (MMM) $136.33 8.12%
Travelers Company Inc. (TRV) $261.31 4.70%
American Express Co. (AXP) $252.42 4.09%
Goldman Sachs Group Inc. (GS) $519.99 3.72%
Visa Inc. (V) $331.40 3.53%
Intel Corp. (INTC) $19.51 3.39%
McDonald's Corp. (MCD) $319.08 3.36%
Apple Inc. (AAPL) $199.74 3.33%
Dow Chemical Co. (DOW) $29.00 3.13%
Salesforce.Com Inc. (CRM) $243.39 3.02%
Dow Jones - Fallers
Cisco Systems Inc. (CSCO) $55.04 0.00%
Dowdupont Inc. (DWDP) $0.00 0.00%
Unitedhealth Group Inc. (UNH) $427.18 0.43%
Johnson & Johnson (JNJ) $157.75 0.53%
Verizon Communications Inc. (VZ) $43.19 0.61%
Amgen Inc. (AMGN) $278.40 0.93%
Microsoft Corp. (MSFT) $366.82 1.10%
Procter & Gamble Co. (PG) $167.88 1.29%
Merck & Co. Inc. (MRK) $78.97 1.44%
Walgreens Boots Alliance, Inc. (WBA) $10.99 1.54%
S&P 500 - Risers
Equifax Inc. (EFX) $245.08 13.84%
Pentair plc (PNR) $86.24 9.22%
PulteGroup Inc. (PHM) $100.89 8.36%
Invesco Ltd. (IVZ) $13.49 8.27%
3M Co. (MMM) $136.33 8.12%
Quest Diagnostics (DGX) $172.84 6.78%
Nektar Therapeutics (NKTR) $0.66 6.67%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $378.67 6.56%
NRG Energy Inc. (NRG) $98.80 6.13%
General Electric Co. (GE) $189.18 6.07%
S&P 500 - Fallers
Northrop Grumman Corp. (NOC) $464.08 -12.66%
RTX Corporation (RTX) $113.75 -9.81%
Halliburton Co. (HAL) $20.70 -5.57%
Kohls Corp. (KSS) $6.76 -3.70%
Zions Bancorporation (ZION) $43.13 -1.64%
Kimberly-Clark Corp. (KMB) $137.92 -1.53%
Newmont Corporation (NEM) $54.54 -1.21%
National Oilwell Varco Inc. (NOV) $12.16 -0.98%
Charter Communications Inc. (CHTR) $331.34 -0.84%
Costco Wholesale Corp. (COST) $979.23 -0.82%
Nasdaq 100 - Risers
Qvc Group Inc Series A (QVCGA) $0.15 9.75%
Ulta Salon, Cosmetics & Fragrance Inc. (ULTA) $378.67 6.56%
Microchip Technology Inc. (MCHP) $40.29 5.64%
Regeneron Pharmaceuticals Inc. (REGN) $585.49 5.31%
Biomarin Pharmaceutical Inc. (BMRN) $61.45 4.97%
Skyworks Solutions Inc. (SWKS) $57.80 4.70%
Illumina Inc. (ILMN) $74.34 4.67%
Trip.com Group Limited (TCOM) $56.87 4.50%
Netflix Inc. (NFLX) $1,040.34 4.40%
Tesla Inc (TSLA) $237.97 4.30%
Nasdaq 100 - Fallers
Charter Communications Inc. (CHTR) $331.34 -0.84%
Costco Wholesale Corp. (COST) $979.23 -0.82%
T-Mobile Us, Inc. (TMUS) $258.30 -0.71%
Check Point Software Technologies Ltd. (CHKP) $212.31 -0.69%
Paychex Inc. (PAYX) $143.29 -0.36%
Liberty Global plc Series C (LBTYK) $10.91 -0.32%
Ross Stores Inc. (ROST) $137.89 -0.20%
Cisco Systems Inc. (CSCO) $55.04 0.00%
Xilinx Inc. (XLNX) $0.00 0.00%
Dish Network Corp. (DISH) $5.77 0.00%
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