Market Wrap | U.S. Stocks Rise Amid Fed Stability and Sector Gains

On April 29, 2025, the U.S. stock market saw the S&P 500 index rise by 0.58%, the Dow Jones Industrial Average increase by 0.75%, and the Nasdaq Composite index gain 0.55%. The most relevant macroeconomic news today includes the Fed's overnight reverse repo usage reaching $157.54 billion, indicating high liquidity demand, while there is a 91.1% probability of the Fed maintaining interest rates unchanged in May, suggesting stability in monetary policy.

The market saw a mixed performance across various sectors. The Utilities, Communication Services, Materials, Industrials, Real Estate, Financials, and Consumer Staples sectors outperformed the S&P 500. Conversely, the Energy sector moved in the opposite direction of the S&P 500.

Novo Nordisk shares rose 4.06% today, driven by the company's announcement of a partnership with digital health providers. This collaboration aims to enhance access to Wegovy, following the easing of a U.S. shortage. The move is expected to bolster Novo Nordisk's market position and improve patient access to its weight management solutions.

Cyclacel Pharmaceuticals Inc. saw a remarkable surge of 124.54%, reflecting strong investor confidence in the company's market activity. Damon Inc. also experienced a significant jump, with its stock rising by 97.37% amid buzz surrounding a strategic partnership in the electric vehicle sector. On the other hand, Petros faced a substantial decline of 77.55% following the announcement of a significant delay in its new drug trial results. Incannex Healthcare also saw a sharp drop of 75.10%, as challenges with clinical trial results raised investor concerns.

The U.S. Commerce Secretary praised TSMC, indicating positive sentiment towards semiconductor collaboration and potential implications for tech stocks. AMD reported lower-than-expected preliminary Q3 adjusted EPS, which may impact investor sentiment and tech sector performance. Amazon shares fell 1.7% premarket following news related to import charges disclosure and a buy rating from UBS, reflecting mixed investor reactions. U.S. JOLTS job openings came in lower than forecast, suggesting labor market tightness that could influence economic growth and stock market dynamics.