Apr-22-2025

 

Markets & Economy

• Stock Futures: Rebounding after yesterday’s dip.

  • NASDAQ 100 up ~1.2%

  • S&P 500, Dow, Russell 2000 all up ~1.1–1.2%

• 10-Year Treasury Yield: Down slightly after a recent rebound.

• U.S. Dollar: Slightly up after hitting a 3-year low.

• Bitcoin: Rising, trading more like gold or a dollar rival lately.

• IMF Cuts Growth Forecast:

  • U.S.: From 2.7% to 1.8%

  • Global: From 3.5% to 2.8%

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Macroeconomic & Trade News

• Richmond Fed Manufacturing Index: Expected at -5 (vs. -4 in March).

• India–US Talks: Positive tone on trade; India still has high tariffs.

• US Tariffs: Imposing up to 3403% on Southeast Asian solar cells (suspected China involvement).

• Drug Pricing: Potential U.S. policy to tie drug prices to global rates.

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Earnings Highlights

• Verizon: Beat EPS & revenue, but lost more subscribers than expected. Stock down.

• GE, Lockheed, RTX (Raytheon): Beat and reaffirmed; RTX down despite this.

• Northrop: Missed EPS, took B-21 bomber charge; cut outlook; stock tumbling.

• Hexcel: Missed and cut 2025 guidance.

• Boeing: Up on $10.55B sale of digital aviation business to Thoma Bravo.

• 3M: Beat, but warned tariffs may hurt future profits.

• Medpace, Kimberly Clark, Zion Bancorp: Mixed results, mostly down.

• Regeneron: Investing $3B to expand U.S. manufacturing.

• Apple: AI adoption better than expected (Morgan Stanley).

• Nvidia: Deutsche Bank cuts target to $125 from $135.