U.S. Stocks Flat After Five-Day Rise, Earnings Week Awaits

On the evening of April 29, U.S. stocks opened relatively flat on Tuesday, following a five-day consecutive rise in both the S&P 500 and the Dow Jones Industrial Average. The market is closely monitoring corporate earnings reports and key economic data this week. U.S. Treasury Secretary Janet Yellen announced that she had held discussions with Japan and South Korea, and that trade negotiations with India had made progress.

On Monday, U.S. stocks closed mixed, with the S&P 500 and Dow Jones Industrial Average posting slight gains, marking their fifth consecutive day of increases. The tech-heavy Nasdaq Composite Index closed down 0.1%.

Investors are preparing for a busy earnings week, with approximately one-third of the S&P 500 companies scheduled to release their results. Major tech companies, including Amazon, Apple, Meta Platforms, and Microsoft, are among the four out of the seven tech giants set to report their quarterly earnings. Financials, consumer staples, and healthcare stocks such as Visa, Coca-Cola, and Eli Lilly are also expected to report.

General Motors reported better-than-expected profits but stated that it is reassessing its future guidance and temporarily halting further stock buybacks to await clarity on tariff impacts. Earlier reports indicated that President Trump was willing to make concessions on foreign-made components used in domestic production, which boosted the company's stock price.

Yellen mentioned that trade agreements would bring certainty. President Trump has met with domestic and foreign automakers to create job opportunities and revive precision manufacturing. The U.S. needs precision manufacturing, not necessarily the textile industry. Yellen also noted that the upcoming tax legislation would reflect the impact of tariff revenue, stating, "We have a significant opportunity to see tax cuts in the tax legislation, and tariff revenue could be used for tax cuts."

Yellen also mentioned that regulatory relief measures would begin in the third and fourth quarters and expressed hope that the European Union would abolish the internet tax.

Investors are closely watching key stocks. Reports indicated that Amazon would soon display the additional cost of U.S. tariffs on each product, with its website showing the portion of the total price attributable to tariffs. In response, the White House press secretary stated that the company's reported plan to display the impact of tariffs on product prices was a "hostile and political move."

IBM announced on Monday that it would invest $150 billion in research and development over the next five years, with $30 billion allocated to advancing manufacturing, including quantum computing.

General Motors stated that it is reassessing its future performance guidance and will not repurchase more shares until the impact of tariffs is clear. Honeywell reported better-than-expected adjusted earnings per share for the first quarter. Spotify's second-quarter monthly active user forecast fell short of expectations. United Parcel Service reported first-quarter revenue above expectations.