{"id":49401,"date":"2025-05-05T10:28:49","date_gmt":"2025-05-05T15:28:49","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/"},"modified":"2025-05-05T10:28:49","modified_gmt":"2025-05-05T15:28:49","slug":"todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/","title":{"rendered":"Today&#8217;s Midday Market Update: Stocks Retreat After Nine-Day Winning Streak"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/#Major_Indexes_Pull_Back_as_Investors_Eye_Fed_Meeting\" >Major Indexes Pull Back as Investors Eye Fed Meeting<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/#Fed_Meeting_Takes_Center_Stage_This_Week\" >Fed Meeting Takes Center Stage This Week<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/#Notable_Stock_Movements\" >Notable Stock Movements<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/#Trade_Optimism_Remains_a_Market_Driver\" >Trade Optimism Remains a Market Driver<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/#Economic_Data_and_Upcoming_Events\" >Economic Data and Upcoming Events<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/todays-midday-market-update-stocks-retreat-after-nine-day-winning-streak\/49401\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Pull_Back_as_Investors_Eye_Fed_Meeting\"><\/span>Major Indexes Pull Back as Investors Eye Fed Meeting<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As of midday Monday, May 5, 2025, major U.S. stock indexes have retreated from their recent highs, breaking a remarkable nine-day winning streak that had been the longest since 2004. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> is down 0.4%, the tech-heavy Nasdaq Composite has fallen 0.6%, while the <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average is hovering near unchanged territory.<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<p>This pullback comes after a strong rally that had enabled the S&#038;P 500 to recoup all losses incurred since President Trump&#8217;s &#8220;Liberation Day&#8221; tariff announcements in early April. Market sentiment had been buoyed by generally strong quarterly results from major companies and optimism that the Trump administration might soften its stance on tariffs.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Fed_Meeting_Takes_Center_Stage_This_Week\"><\/span>Fed Meeting Takes Center Stage This Week<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are now turning their attention to the Federal Reserve&#8217;s two-day policy meeting beginning tomorrow. According to the CME Group&#8217;s FedWatch tool, there is only a 1.8% likelihood of a rate cut at this meeting, suggesting the federal funds rate will likely remain in the current range between 4.25% and 4.50%.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>However, market participants will be closely monitoring Federal Reserve Chairman Jerome Powell&#8217;s press conference following the meeting for any hints about potential rate cuts in June, which currently has around a 30% probability according to market estimates.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<p>The 10-year Treasury yield remained steady at 4.32% in morning trading, while the 2-year Treasury yield dropped slightly to 3.801%, indicating some market expectation of eventual easing in monetary policy.<cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Notable_Stock_Movements\"><\/span>Notable Stock Movements<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Several major stocks are making significant moves today:<\/p>\n<p>&#8211; Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>) shares jumped 4.3% as tech stocks generally performed well in early trading.<cscitation citation_id=\"task_2__2\"><\/cscitation><\/p>\n<p>&#8211; Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>) shares slid 3.7% after the iPhone maker announced it would trim its share buyback program by $10 billion.<cscitation citation_id=\"task_2__2\"><\/cscitation><\/p>\n<p>&#8211; Take-Two Interactive Software (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=TTWO\">TTWO<\/a>) plunged 6.7% after pushing back the release of its highly anticipated &#8220;Grand Theft Auto VI&#8221; to May 2026.<cscitation citation_id=\"task_2__2\"><\/cscitation><\/p>\n<p>&#8211; JPMorgan Chase (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=JPM\">JPM<\/a>) gained 2.3%, leading financials to become one of the day&#8217;s best-performing sectors.<cscitation citation_id=\"task_2__2\"><\/cscitation><\/p>\n<p>&#8211; Berkshire Hathaway shares were down about 3% following Warren Buffett&#8217;s announcements at the company&#8217;s annual meeting over the weekend.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Trade_Optimism_Remains_a_Market_Driver\"><\/span>Trade Optimism Remains a Market Driver<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Recent market gains have been partially fueled by increasing hopes for a U.S. trade deal with major trading partners. Chinese authorities have indicated they&#8217;re evaluating the possibility of starting trade negotiations with the U.S., and a report by The Wall Street Journal suggested that Beijing is open to trade talks.<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<p>However, some market analysts remain cautious. Ryan Dykmans, chief investment officer at Dunham &#038; Associates Investment Counsel, noted: &#8220;We do see this run up as being more based on excitement than actual, solid \u2014 not just fundamentals, but an actual change.&#8221;<cscitation citation_id=\"task_1__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Economic_Data_and_Upcoming_Events\"><\/span>Economic Data and Upcoming Events<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors will be watching several key economic indicators this week:<\/p>\n<p>&#8211; PMI data for the services sector from both S&#038;P Global and ISM are expected later today<br \/>&#8211; Import and export data will be released later in the week<br \/>&#8211; Weekly initial jobless claims reports will provide further insight into the labor market<\/p>\n<p>These reports follow Friday&#8217;s jobs data, which showed that seasonally adjusted nonfarm payrolls rose by 177,000 in April, exceeding the expected 133,000.<cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As we move further into the trading day, investors will be balancing recent positive earnings reports against concerns about trade tensions and monetary policy. The Federal Reserve&#8217;s commentary on Wednesday will likely set the tone for market direction in the coming weeks, particularly regarding the timing of potential interest rate cuts that could impact both borrowers and investors across the economy.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Pull Back as Investors Eye Fed Meeting As of midday Monday, May 5, 2025, major U.S. stock indexes 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