All three major benchmarks are headed for their worst weeks of 2025 amid tariff updates
Though Wall Street enjoyed a brief reprieve on Wednesday, stocks fell sharply each remaining day of the week, as global trade tensions sparked by President Trump's series of tariff updates persisted. The Nasdaq Composite (IXIC) slipped into correction territory on Thursday, heading for its worst week since September alongside the S&P 500 Index (SPX), and Dow Jones Industrial Average (DJI).
Flood of Earnings This Week
Kroger (KR) made headlines before its mixed earnings report this week, after its CEO suddenly resigned. Elsewhere, On Holding (ON) and Okta (OKTA) both received bull notes after their upbeat quarterly reports, while AeroVironment (AVAV) and CrowdStrike (CRWD) fell sharply due to disappointing full-year forecasts. In other news, MongoDB (MDB) and Zscaler (ZS) swung in opposite directions on Thursday after their reports, while Macy's (M) hit a 52-week low and Marvell Technologies' lackluster guidance dragged the chip sector. To finish the week, Costco Wholesale (COST) brushed off bull notes and a revenue beat after a profit miss.
Other Stocks Buzzing
Crypto stocks were in focus after President Trump announced a strategic U.S. crypto reserve. Investors rushed to safe-haven gold assets this week amid an already bullish seasonality period for the commodity. Embattled Walgreens Boots Alliance (WBA) stock jumped after news that private equity firm Sycamore Partners is circling, and Intuitive Machines (LUNR) fell sharply after a rough moon landing for the company's Nova-C lander, Athena.
Next Week on Wall Street
Inflation data will highlight next week, while investors watch for consumer confidence indicators in the way of retail earnings and consumer sentiment data on Friday. In the meantime, check out what Schaeffer's Senior Quantitative Analyst Rocky White has to say about S&P 500 pullbacks, historically.