Market Recap – April 25th
The choppy markets temporarily ended for the worse as jitters overcame investors. Very troubling earnings from First Republic Bank on Monday highlighted how severe the effects of the banking panic were, creating additional fear regarding the regional banks. The bell rang with the S&P 500 down 1.58%, the Dow Jones down 1.02%, and the NASDAQ down 1.98%.
Tuesday’s slate of earnings involved UPS, which fell by 9.99% to $176.29 after failing to meet expectations and warning of a further slowdown, citing slowing retail sales as the reasoning behind a lag in revenue. UPS’ earnings likely weighed the markets down by inciting fears regarding the economy, but there were positive earnings that went under the radar too. Spotify rose by 5.14% to $138.20 after monthly active users exceeded estimates even though the ad business led to less revenue than expected.
Want to learn how to invest? Download the Invstr app, where you can play Fantasy Finance and manage a virtual investment portfolio, or open a brokerage account and invest for real. Take our interactive investing course on Invstr Academy and become a better investor today!
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.