Overview

• The S&P 500 closed up 0.06%, marking its fifth consecutive daily gain, while the Nasdaq Composite fell 0.1%, weighed down by losses in megacap tech stocks.
• Four of the 'Magnificent Seven' tech firms—Apple, Amazon, Microsoft, and Meta—are set to release Q1 earnings this week, with investors closely watching their guidance amid trade uncertainty.
• Huawei's reported development of an AI chip to rival Nvidia's offerings has added pressure to the U.S. tech sector, with Nvidia shares falling 2.1%.
• President Trump’s escalating tariffs and unresolved U.S.-China trade tensions continue to create uncertainty, prompting many firms to scale back or withdraw forward guidance.
• Key economic reports, including U.S. GDP, the core PCE price index, and Friday’s jobs report, are expected to provide further insights into growth, inflation, and labor market trends.