Market Slips as Q1 Reports Arrive

U.S. stocks slipped over the shortened trading week as Q1 corporate reports started to roll in. 

The Standard & Poor’s 500 Index dropped 1.50 percent, while the Nasdaq Composite Index fell 2.62 percent. The Dow Jones Industrial Average lost 2.66 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 4.19 percent.^1,2

U.S. Stocks Slide

Stocks started the four-day week with modest gains. Trade volatility subsided as several money center banks reported Q1 numbers at or above expectations.³

Stocks trended lower midweek after Federal Reserve Chair Jerome Powell expressed concern that tariffs would likely “move us further away from our goals”—including keeping inflation in check.⁴

Stocks were mixed on the week's last trading day as traders evaluated White House news that trade deals were progressing with Japan, China, and the European Union. The S&P 500 ended the day higher, but the Dow Industrials were under pressure after a large healthcare company gave a disappointing Q1 report.⁵