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Home > Stock Market Updates > Opening Bell - 30 / 04 / 25
Podcast: Stock Market Updates
Episode:

Opening Bell - 30 / 04 / 25
Category: Business
Duration: 00:02:16
Publish Date: 2025-04-30 03:29:42
Description:

Opening Bell - Morning Commentary


Corporate Results and Global Politics to Steer Markets


U.S. equity markets closed higher on Tuesday, with the S&P 500 extending its winning streak to six consecutive days. Stocks finished in positive territory after fluctuating between modest gains and losses during choppy trading as investors evaluated recent corporate earnings, economic data, and trade policy developments.


Most S&P 500 sectors ended higher, with cyclical sectors like materials and financials advancing. The S&P 500 has rallied approximately 12% from its April 8 low, now roughly 9% below its February 19 all-time high.


Equity markets climbed on news that the U.S. will exempt automakers from additional steel and aluminium tariffs, preventing these costs from compounding existing auto tariffs. Reports indicate that imported auto parts for U.S. manufacturers will face lower tariffs than initially announced, while USMCA-compliant parts from Canada and Mexico will remain tariff-free.


The market rally since April 8 has been fuelled by de-escalation in U.S. trade tension, including possible reduced China tariffs and potential near-term agreements with major trading partners.


JOLTS job openings for March were lower than expected, falling to 7.2 million compared with the 7.5 million in the prior month.


The U.S. GDP in Q1 2025 is expected to show a significant slowdown from the previous quarter, with a potential negative growth rate, a considerable deceleration from the prior quarter's 2.4% gain, as a surge in imports earlier this year and more cautious consumer spending trends potentially weigh on growth in the first quarter.


The primary drag on the Q1 forecast is the record-high goods trade deficit, which is somewhat offset by inventory additions by businesses trying to bypass the tariffs. Due to weather disruptions, private spending will likely be slower than in Q4CY24.


In Canada, Prime Minister Mark Carney’s Liberal Party emerged as the winner in the federal election, but fell short of a majority. With 172 seats out of 343, the Liberals will need support from smaller parties to form a government. The backdrop of trade war tensions and annexation threats from U.S. President Donald Trump heavily influenced the election campaign.


An official survey showed on Wednesday that China's manufacturing activity contracted in April, reversing two months of recovery and keeping alive calls for further stimulus.


Four of the so-called Magnificent Seven - Microsoft Corp., Apple Inc., Meta Platforms Inc. and Amazon.com Inc. - are also due to report earnings this week.


Nifty is in a continuation of an uptrend, as it is placed above all key moving averages. The index's next resistance is 24545, which happens to be a 61.8% retracement of the entire fall from 26277 to 21743. On the downside, the 24150 level will likely act as immediate support for the Nifty.
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