Wall Street Holiday Observance
The U.S. stock markets are set to close on Friday, April 18, 2025, in observance of Good Friday. According to the Securities Industry and Financial Markets Association, trading will halt on the Nasdaq and the New York Stock Exchange (NYSE), as well as in U.S. bond markets, ahead of the weekend holiday.
Market Activity Before the Holiday
On Thursday, the markets displayed little movement, with most Wall Street stocks remaining unchanged. The dollar strengthened slightly as investors responded to trade discussions involving the United States, Japan, and Italy. However, the optimism was tempered by remarks from Federal Reserve Chair Jerome Powell, who indicated that the central bank would adopt a cautious approach toward interest rate cuts.
Traders Exercise Caution
As the holiday weekend approaches, traders have been hesitant to increase their exposure amid a broader decline in risk assets this week. Gold prices experienced a slight retreat from their record highs established earlier this week.
Sector Performance
The S&P 500 index managed a slight increase of 0.1%, while the Nasdaq Composite experienced a minor decrease of 0.1%. Technology shares benefited from unexpected earnings from companies like Taiwan’s TSMC and Eli Lilly, with the latter’s stock surging by 14%. Eli Lilly reported that its new experimental drug performed comparably to its successful weight-loss medication, Ozempic.
Despite some bright spots in technology, Alphabet’s shares fell approximately 1.4%. This drop followed a ruling from a federal judge stating that Google had unlawfully monopolized two markets concerning online advertising technology.
The Dow Jones Industrial Average dropped by 1.3%, primarily dragged down by UnitedHealth. The health insurance sector saw a significant hit after UnitedHealth delivered disappointing quarterly earnings and lowered its full-year outlook due to unforeseen medical expenses, resulting in a 22% drop in its stock price.
In summary, while U.S. markets prepare for a holiday closure, the atmosphere leading into the break remains cautious amid mixed economic signals and ongoing market volatility.
