S&P 500 (NYSEARCA: SPY) Live: NOW (NOW) Soars as Earnings Take Spotlight
Live Updates Live Coverage Updates appear automatically as they are published. S&P 500 Three-Peat 11:15 am by Gerelyn Terzo The S&P 500 is on track for its third-straight winning session as the markets pivot their focus to earnings season. Tariff uncertainty remains but for now the markets are seeing the glass half full. The S&P […] The post S&P 500 (NYSEARCA: SPY) Live: NOW (NOW) Soars as Earnings Take Spotlight appeared first on 24/7 Wall St..
Live Updates
S&P 500 Three-Peat
The S&P 500 is on track for its third-straight winning session as the markets pivot their focus to earnings season. Tariff uncertainty remains but for now the markets are seeing the glass half full. The S&P 500 is being helped by NOW (NYSE:NOW) stock, which expects to benefit from the current economic uncertainty. The stock is up 14% on the day. IBM (NYSE: IBM) is a loser today as the U.S. government’s DOGE cuts threaten to cut into its spending plans.
Economic data has been mixed, with March durable goods orders soaring while home sales plummeted last month to GFC lows.
The markets are showing a lack of conviction this morning as they await further success on trade negotiations but are currently staying positive, with all three of the major stock market indices moving higher. Today’s gains mark the third straight day of gains for the broader market index, the S&P 500.
Durable goods orders increased by a better-than-expected 9.2% in March, surpassing estimates of 1.6%, as businesses made haste to secure orders prior to rising tariffs. Transportation equipment orders led the results, climbing a massive 27% higher last month. Elsewhere, home sales sunk by 5.9% in March, revisiting levels not seen since the Great Financial Crisis.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 218.01 (+0.55%)
Nasdaq Composite: Up 267.01 (+1.59%)
S&P 500: Up 59.31 (+1.1%)
Market Movers:
ServiceNow (NYSE: NOW) is the stock of the day, tacking on approximately 14% in the session. After reporting earnings and revenue that exceeded Wall Street expectations, ServiceNow management suggested that the company is benefiting from the economic uncertainty, forecasting 2025 revenue growth of nearly 20%. NOW stock has taken investors on a wild ride in 2025 and hovers about 22% below its 52-week high.
P&G (NYSE: PG) stock is tumbling by 4.8% today as it feels the brunt of the tariff fallout. Basically the company is experiencing a great deal of uncertainty and is contemplating changing suppliers as well as revising its product formulas to avoid the impact from tariffs.
IBM (NYSE: IBM) stock is also falling, losing 6.4% on the day at last check. IBM managed to beat Q1 estimates on both the top and bottom lines but cautioned that government cuts could cut into its capex spending.
Merck (NYSE: MRK) reported better-than-expected Q1 earnings and revenue but reduced its profit outlook on tariff-related costs.
The post S&P 500 (NYSEARCA: SPY) Live: NOW (NOW) Soars as Earnings Take Spotlight appeared first on 24/7 Wall St..