{"id":49393,"date":"2025-05-02T10:28:48","date_gmt":"2025-05-02T15:28:48","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/todays-midday-market-update-wall-street-reacts-to-tech-earnings-as-jobs-report-looms\/49393\/"},"modified":"2025-05-02T10:28:48","modified_gmt":"2025-05-02T15:28:48","slug":"todays-midday-market-update-wall-street-reacts-to-tech-earnings-as-jobs-report-looms","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-wall-street-reacts-to-tech-earnings-as-jobs-report-looms\/49393\/","title":{"rendered":"Today’s Midday Market Update: Wall Street Reacts to Tech Earnings as Jobs Report Looms"},"content":{"rendered":"

Major Indexes Continue Winning Streak Despite Mixed Tech Earnings<\/h2>\n

As of midday Friday, May 2, 2025, U.S. stock markets are showing mixed performance following yesterday’s gains and this morning’s highly anticipated jobs report. The S&P 500<\/a> is up approximately 1.15%, extending its winning streak to nine consecutive sessions, while the Dow Jones<\/a> Industrial Average has gained about 1.02%. The tech-heavy Nasdaq Composite is leading the way with a 1.34% increase, despite after-hours pressure on tech giants following their earnings reports.<\/cscitation><\/p>\n

The market’s resilience comes as investors digest April’s jobs report released this morning, which showed the U.S. economy added 133,000 jobs last month, a sharp decline from the 228,000 added in March but in line with economists’ expectations. The unemployment rate remained steady at 4.2%, suggesting a cooling but still stable labor market.<\/cscitation><\/p>\n

Tech Giants Report Mixed Earnings Results<\/h2>\n

After Thursday’s closing bell, tech heavyweights Apple (AAPL<\/a>) and Amazon (AMZN<\/a>) reported quarterly earnings that beat analyst expectations but revealed some concerning trends beneath the surface.<\/p>\n

Apple posted fiscal second-quarter earnings of $1.65 per share on revenue of $95.36 billion, exceeding estimates. iPhone sales grew 2% year-over-year to 46.84 billion units, surpassing expectations. However, the company’s crucial Services division, which includes offerings like advertising, iCloud, and Apple TV+, fell short of estimates despite growing 12% in the quarter. Apple shares were down approximately 4% in pre-market trading<\/a>.<\/cscitation><\/p>\n

Amazon reported first-quarter earnings of $1.59 per share on revenues of $155.67 billion, both exceeding analyst expectations. However, Amazon Web Services (AWS<\/a>), the company’s cloud division and a significant profit driver, posted 17% growth, falling short of the 17.6% analysts had expected. The company also issued light guidance, citing “tariffs and trade policies” and “recessionary fears” as potential headwinds. Amazon shares were down about 2.5% in pre-market trading.<\/cscitation><\/cscitation><\/p>\n

Other Notable Stock Movers<\/h2>\n

Several other companies reported earnings that are influencing today’s market:<\/p>\n

– Reddit (RDDT<\/a>) shares surged 18% after reporting earnings of $0.13 per share, far exceeding the expected $0.02, with revenues of $392 million beating projections by $20 million.<\/cscitation><\/p>\n

– Twilio (TWLO<\/a>) jumped 9% following a strong earnings beat of $1.14 per share versus the expected $0.92.<\/cscitation><\/p>\n

– Block (XYZ<\/a>), formerly Square, plummeted 12% after missing both top and bottom-line expectations by wide margins and reducing guidance.<\/cscitation><\/p>\n

Upcoming Market Events to Watch<\/h2>\n

Investors should keep an eye on several key economic events in the coming week:<\/p>\n

– Monday, May 5: S&P Global Services PMI final data and ISM Services report, which will provide insights into the health of the services sector.<\/cscitation><\/p>\n

– Tuesday, May 6: U.S. trade deficit figures for March.<\/cscitation><\/p>\n

– Wednesday, May 7: FOMC meeting and Fed Chair Powell’s press conference, which could provide crucial signals about the future direction of interest rates.<\/cscitation><\/p>\n

– Thursday, May 8: Initial jobless claims, U.S. productivity data for Q1, and wholesale inventories for March.<\/cscitation><\/p>\n

Market Outlook and Tariff Concerns<\/h2>\n

Trade tensions remain a significant concern for market participants<\/b>, with both Apple and Amazon executives highlighting the challenge in predicting how tariffs will affect their businesses. The U.S. Chamber of Commerce has urged the Trump administration to implement a “tariff exclusion process” for small business importers and on products that cannot be produced domestically.<\/cscitation><\/p>\n

Despite these concerns, the market has shown remarkable resilience since President Trump paused many of his proposed tariffs on April 9. The Nasdaq Composite has now wiped out its losses since April 2, the day of Trump’s “reciprocal” tariffs announcement.<\/cscitation><\/p>\n

As we move into the afternoon session, investors will be closely monitoring any developments related to trade negotiations, particularly following China’s announcement that it is evaluating the possibility of starting trade talks with the U.S., which helped boost futures earlier today.<\/cscitation><\/p>\n","protected":false},"excerpt":{"rendered":"

Major Indexes Continue Winning Streak Despite Mixed Tech Earnings As of midday Friday, May 2, 2025, U.S. stock markets are […]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94],"tags":[225,391,3769,4024,4029,4106],"class_list":["post-49393","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","tag-aapl","tag-amzn","tag-rddt","tag-aws","tag-twlo","tag-xyz"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/49393","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=49393"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/49393\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=49393"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=49393"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=49393"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}