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Home > Stock Market Updates > Opening Bell - 23 / 04 / 25
Podcast: Stock Market Updates
Episode:

Opening Bell - 23 / 04 / 25
Category: Business
Duration: 00:02:24
Publish Date: 2025-04-23 03:44:38
Description:

Opening Bell - Morning Commentary


U.S. stocks and the dollar rebound as Trump steps back


With gains led by the financials and consumer discretionary sectors, U.S. equity markets have advanced, signalling a shift towards risk-on sentiment among investors.


Wall Street indices posted substantial gains, rebounding significantly following Trump's commentary and Bessent's reported remarks. The S&P 500 closed up 2.5% at 5287 points, the NASDAQ Composite advanced 2.7% to 16300 points, and the Dow Jones Industrial Average climbed 2.7% to 39186 points.


Reversing Monday's sharp decline, indices climbed to session highs after a report surfaced quoting remarks attributed to U.S. Treasury Secretary Scott Bessent, who reportedly deemed the tariff standoff with China unsustainable and anticipated de-escalation, which significantly boosted hopes for U.S. trade negotiations.


Trump further stated his preference for a trade agreement with China that would avoid tariffs of nearly 145%, though he asserted his intent to dictate terms should Beijing decline negotiations.


The U.S. dollar strengthened broadly following Trump's retraction of threats concerning Federal Reserve Chair Jerome Powell's position, remarks that had previously undermined investor confidence in U.S. assets.


Stock markets in Asia experienced a notable relief rally on Wednesday, buoyed by comments from President Donald Trump indicating he had no plans to dismiss the Federal Reserve Chair and hinting at potentially lower tariffs on Chinese goods.


Tesla will report first-quarter earnings after the US market closes today, and Alphabet will follow on Thursday.


16% of the S&P 500 companies reporting quarterly results, performance has been strong, as 76% have beaten analyst estimates, with an average upside surprise of 6.2%


European Central Bank President Christine Lagarde commented that disinflation in the region is nearing completion. Investors reacted by buying back into beaten-down stocks. Japan's Nikkei jumped 2.3% in early trade, while South Korea's main index rose 1.2%.


Markets in India are likely to open on a strong note on Wednesday. The Nifty has risen more than 2400 points from the recent swing low of 21743, and after today’s opening flourish, it will encounter strong resistance near 24545, which happens to be a 61.8% retracement of the entire fall seen from 26277(All-Time High) to 21743(7th April 2025 Low). Support for the Nifty is seen near its previous swing high of 23870.
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