The first-quarter earnings season is set to begin, following a tumultuous week for the stock market. Companies are expected to provide insights into their performance amidst significant market volatility. Stocks experienced their worst two-day losses since 2020 after President Trump announced new tariffs. The S&P 500 fell by 10.5%, the Nasdaq Composite Index dropped by 11.4%, and the Dow Jones Industrial Average declined by 7.9%. More than $6 trillion in investor wealth was erased. Key stocks like Apple saw substantial declines, losing its status as a $3-trillion company. Analysts suggest that a rebound may be possible due to low relative strength indexes (RSIs), but a sustained recovery will depend on economic and political cooperation. Earnings reports from Delta Air Lines and major financial institutions such as JPMorgan Chase, Wells Fargo, Morgan Stanley, BlackRock, and Bank of New York Mellon will provide critical insights into the current economic situation. Investors are eager to understand the impact of tariffs, market volatility, and customer stress on these companies. Questions about potential recession risks and strategies for navigating the rest of the year will be central to discussions.
— new from TheStreet