(Sharecast News) - Major indices were in the red early on Friday as market participants digested earnings from Alphabet and assessed recent tariff comments from Donald Trump.
As of 1545 BST, the Dow Jones Industrial Average was down 0.88% at 39,739.45, while the S&P 500 lost 0.49% to 5,457.79 and the Nasdaq Composite came out of the gate 0.21% weaker at 17,130.25.
The Dow opened 353.95 points lower on Friday, taking back a chunk of yesterday's gains.
Comments from Donald Trump weighed on sentiment early on Friday after he told Time Magazine that he would consider it a "total victory" if the US had elevated tariffs of 20-50% on foreign countries a year from now. He also denied that rising yields had forced him to put a 90-day pause on the majority of his higher tariff rates and stated that announcements regarding many trade deals would be coming "over the next three to four weeks".
On the macro front, the University of Michigan's consumer sentiment index was revised higher to 52.2 in April, up from a preliminary reading of 50.8 but down from 57 in March. Despite the upward revision, consumer sentiment was down for a fourth straight month to the lowest reading since July 2022. The expectations gauge plummeted to 47.3, while year-ahead inflation expectations jumped to 6.5%, the highest reading since 1981, while long-run inflation expectations climbed to 4.4%.
In the corporate space, shares in Google-parent Alphabet were higher in early trading after it posted a beat on both the top and bottom lines in Q1, while Intel shares headed south after issuing some disappointing guidance.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Microsoft Corp. (MSFT) $386.24 2.32%
Apple Inc. (AAPL) $206.79 1.64%
Amgen Inc. (AMGN) $278.03 1.08%
Cisco Systems Inc. (CSCO) $56.16 0.97%
Boeing Co. (BA) $176.88 0.35%
Salesforce.Com Inc. (CRM) $265.45 0.28%
Dowdupont Inc. (DWDP) $0.00 0.00%
Walgreens Boots Alliance, Inc. (WBA) $10.97 -0.21%
Goldman Sachs Group Inc. (GS) $544.12 -0.23%
McDonald's Corp. (MCD) $315.38 -0.27%
Dow Jones - Fallers
Intel Corp. (INTC) $19.79 -6.14%
Nike Inc. (NKE) $56.79 -2.88%
Unitedhealth Group Inc. (UNH) $412.85 -2.69%
Verizon Communications Inc. (VZ) $41.87 -2.21%
Merck & Co. Inc. (MRK) $78.57 -1.59%
Coca-Cola Co. (KO) $71.40 -1.54%
Johnson & Johnson (JNJ) $152.95 -1.28%
Home Depot Inc. (HD) $355.60 -1.12%
Travelers Company Inc. (TRV) $257.48 -1.12%
American Express Co. (AXP) $264.86 -0.92%
S&P 500 - Risers
Charter Communications Inc. (CHTR) $364.23 12.47%
Nektar Therapeutics (NKTR) $0.77 7.65%
VeriSign Inc. (VRSN) $271.52 7.42%
Micron Technology Inc. (MU) $77.99 5.58%
Tractor Supply Company (TSCO) $49.32 5.27%
Broadcom Inc. (AVGO) $187.73 4.84%
Take-Two Interactive Software Inc. (TTWO) $223.16 4.16%
Lam Research Corp. (LRCX) $71.06 4.04%
Alphabet Inc. Class A (GOOGL) $162.79 4.03%
Advanced Micro Devices Inc. (AMD) $94.17 3.97%
S&P 500 - Fallers
Aon plc (AON) $328.94 -9.89%
Centene Corp. (CNC) $57.12 -7.24%
Willis Towers Watson Public Limited Company (WTW) $293.52 -7.00%
Intel Corp. (INTC) $19.79 -6.14%
PepsiCo Inc (PEP) $132.23 -5.69%
Eastman Chemical Co. (EMN) $76.25 -5.65%
LKQ Corporation (LKQ) $36.51 -5.25%
Healthpeak Properties, Inc (DOC) $17.83 -5.21%
Gallagher Arthur J (AJG) $314.73 -5.06%
Robert Half Inc. (RHI) $43.36 -3.67%
Nasdaq 100 - Risers
Charter Communications Inc. (CHTR) $364.23 12.47%
Tesla Inc (TSLA) $271.27 6.76%
Micron Technology Inc. (MU) $77.99 5.58%
Broadcom Inc. (AVGO) $187.73 4.84%
Take-Two Interactive Software Inc. (TTWO) $223.16 4.16%
Lam Research Corp. (LRCX) $71.06 4.04%
Alphabet Inc. Class A (GOOGL) $162.79 4.03%
Alphabet Inc. Class C (GOOG) $164.90 3.89%
Cadence Design Systems Inc. (CDNS) $284.12 3.81%
Nvidia Corp. (NVDA) $107.61 3.75%
Nasdaq 100 - Fallers
T-Mobile Us, Inc. (TMUS) $236.09 -8.74%
Intel Corp. (INTC) $19.79 -6.14%
Gilead Sciences Inc. (GILD) $102.24 -3.60%
Mondelez International Inc. (MDLZ) $64.73 -2.51%
Kraft Heinz Co. (KHC) $29.36 -1.33%
Hologic Inc. (HOLX) $57.37 -1.30%
Monster Beverage Corp (MNST) $58.02 -0.70%
Verisk Analytics Inc. (VRSK) $283.92 -0.62%
Check Point Software Technologies Ltd. (CHKP) $204.96 -0.44%
Illumina Inc. (ILMN) $76.15 -0.38%
7.81 (0.09%)
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