Stock Market Today: Stocks end mixed as Q1 GDP sets up recession risks

Updated at 4:45 PM EST by Rob Lenihan

Stocks finished mixed Wednesday as investors picked through a key series of economic data releases and a pair of megacap tech earnings after the bell to close out the final trading day of the month.

The Dow Jones Industrial Average gained 141 points, or 0.35%. to finish the session at 40,669.36, while the S&P 500 advanced 0.15% to close at 5,569.06, and the tech-heavy Nasdaq slipped 0.09% to end the day at 17,446.34.

Stocks climbed out of session lows after a Chinese social media account affiliated with the country's state-run channel posted the US had been reaching out to China seeking to negotiate on tariffs, according to Yahoo Finance.

The S&P 500 ended April with a roughly 0.8% loss, while the Dow was down 3.2% for the period, CNBC reported, marking the third straight losing month for both, while the Nasdaq posted a nearly 0.9% advance for the month.

In company news, Facebook parent Meta Platforms posted stronger-than-expected revenue in the first quarter and provided second-quarter guidance that was in line with Wall Street’s expectations.

Software giant Microsoft reported better-than-expected quarterly results driven by its Azure cloud business.

Updated at 12:32 PM EST

Big tech on deck 

Microsoft and Meta Platforms will essentially kick-off the megacap tech portion of the first quarter earnings season after the close of trading, with investors looking for near-term profit guidance and any change in capital spending plans from two companies at the very forefront of the AI investment narrative. 

Both, however, are also leaning into a bearish headwind for tech names, with Microsoft pulled lower by a grim outlook for server maker Super Micro Computer  (SMCI)  and Meta dragged down by a similarly dour ad-spending forecast from social media app maker Snap  (SNAP) . 

Apple and Amazon will follow with March quarter updates after the close of trading on Thursday.

Microsoft was last marked 1.25% lower at $389.11 each while Meta slumped 3.3% $536.25 each.

#earnings after the close on Wednesday, April 30, 2025https://t.co/hLn2sKQPuw$META $MSFT $HOOD $QCOM $ALB $EBAY $SFM $KLAC $GRBK $NLY $CP $AGI $PRU $BHC $CWAN $ENVX $FMC $PPC $PSA $MET $SNBR $CCI $CRK $BE $ASH $AWK $ALL $AM $ALGN $AEIS $CSV $CDNA $AXS $FTAI $EQIX $CAKE $GH… https://t.co/jRcmPKS9MB pic.twitter.com/rlaYStWyMy— Earnings Whispers (@eWhispers) April 30, 2025

Updated at 10:17 AM EST

Sticky situation 

The Federal Reserve's preferred inflation gauge remained elevated last month, data indicated Wednesday, following a weaker-than-expected first quarter GDP reading that could stoke stagflation concerns in the world's biggest economy.

The Bureau of Economic Analysis's PCE Price Index report for the moth of March, which is closely-tracked by the Fed for a clearer indication of inflation pressures, showed core prices rising at an annual rate of 2.6%, just inside the February reading of 2.8% and matching Wall Street's consensus forecast of 2.6%.

Core price pressures, which strip away volatile food and energy components, were unchanged on the month, compared to February's reading of a 0.4% increase and Wall Street's consensus estimate of a 0.1% advance.

Stocks extended declines following the data release, with the S&P 500 last marked 110 points, or 2% lower and the Dow Jones Industrial falling 700 points. The tech-focused Nasdaq was down 440 points, or 2.5%.

Core PCE Price Index Annual Change 2.6%

Lowest since March 2021 pic.twitter.com/9eB9dPVhKc— Mike Zaccardi, CFA, CMT