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S&P 500 Gains and Losses Today: Tech Stocks Jump as Trump Softens Stance on Fed and Trade

The floor at the New York Stock Exchange (NYSE) in New York, US, on Wednesday, April 23, 2025.

Michael Nagle / Bloomberg via Getty Images

Key Takeaways

  • The S&P 500 advanced 1.7% on Wednesday, April 23, as comments from the White House pointed to stability at the Fed and the possibility of easing trade tensions.
  • Antenna and high-speed cable manufacturer Amphenol reported strong quarterly results, and its shares pushed higher.
  • Enphase Energy shares dropped after the solar technology firm missed quarterly estimates and indicated that tariffs could weigh on its upcoming performance.

Major U.S. equities indexes pushed higher after President Trump indicated that he does not intend to fire Jerome Powell from his role as Federal Reserve chair. White House officials also indicated that the U.S. could adopt a more measured approach to 澳洲幸运5开奖号码历史查询:tariffs on imports from China, suggesting a potential 🍸easing of trade tensio𝕴ns between the world's two largest economies.

The S&P 500 added 1.7% in the midweek trading session, while🍬 the Dow clღosed 1.1% higher. The tech-heavy Nasdaq soared 2.5%. 

Amphenol (APH), a manufacturer of antennas and high-speed electronic cables, topped revenu🐬e and a⛎djusted earnings per share (EPS) estimates in its first-quarter earnings report. The company also provided an upbeat fo👍recast for the current quarter, noting opportunities across end markets and highlighting how innovatioᩚᩚᩚᩚᩚᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ⁤⁤⁤⁤ᩚ𒀱ᩚᩚᩚn and strategic acquisitions have helped expand its product offering. Amphenol shares surged 8.2% to secure the top performance in the S&P 500 on Wednesday.

The technology sector outperformed on Wednesday, bolstered by increased optimism for improvements in the U.S.-China trade relationship. Super Micro Computer (SMCI) announced an expansion of its collaboration with 🏅Japanese tech firm Fujitsu, which will deploy a new Supermicro server as part of its large language model (LLM) project. Supermicro shares jumped 7.6%.

Meanwhile, Palantir Technologies (PLTR) shares gained 7.3%. The data analytics software firm said it will partner with defense contractor Northrop Grumman (NOC) to develop combat vehicles that leverage artificial intelligence (AI) technology. Northrop Grumman shares edged 1.9% higher on Wednesday, marking a minor recovery from the heavy decline posted in the prior session following a lackluster earnings report♍.

Shares of solar technology firm Enphase Energy (ENPH) plunged 15.7%, losing the most of any S&P 500 stock. The company posted 澳洲幸运5🅠开奖号码历史查询:lower-than-expected sale𒐪s and profits for the first quarter, and Enphase's CEO noted that tariffs could weigh on future results. In particular, the company sources battery cell packs from China and anticipates that levies on these imports will pܫressure its gross margins in upcoming quarters.

Although heating, ventilation, and air conditioning (HVAC) specialist Lennox International (LII) topped quarterly sales and profit estimates, its full-year guidance fell short of consensus forecasts, and its shares fell 9.0%. The CEO stressed that Lennox is adapting to the challenging economic en꧂vironment with pricing adjustments as it aims to maintain the stability of its supply chain.

Shares of oilfield services and energy technology firm Baker Hughes (BKR) sank 6.4% on Wednesday following a mixed quarterly earnings release. Although profits topped forecasts, revenues came in below expectations. The company faces an uncertain macroeconomic backdrop and softness in oil prices that could hinder its clients' production activities.

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