Anna's Markets Pulse

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Saturday, 5:30 AM

April 26, 2025

Good morning news friend! Here is a deeper view of what happened in the markets this week. 📰🌟

Market Pulse: Stocks Rally Sharply; Tech Leads Weekly Gains on Earnings Strength

Major U.S. stock indices posted strong gains for the week ending April 25, 2025. The rally marked a significant rebound from the steep declines and heightened volatility experienced earlier in the month following U.S. tariff announcements.¹ Technology stocks spearheaded the advance, propelled by robust earnings reports from key sector constituents.

The S&P 500 gained 4.6% for the week, while the tech-heavy Nasdaq Composite surged 6.7%. The Dow Jones Industrial Average rose 2.5%.⁵ Small-capitalization stocks also participated in the rally, with the Russell 2000 index climbing 4.1%.⁵ Reflecting the dominance of technology and innovation themes, growth stocks significantly outperformed value stocks during the week.⁷ This positive performance contrasted sharply with the market's trajectory earlier in April and a notable drop recorded on Monday, April 21, where indices fell over 2% amid concerns about the U.S. trade posture and potential Federal Reserve criticism.⁸

Several factors drove market performance during the week:

• Strong Technology Earnings: Positive earnings reports served as a primary catalyst, particularly within the technology sector. Alphabet released results that surpassed analyst expectations, driven by AI-fueled growth in Search and Cloud segments.¹⁰ While Tesla reported figures that missed consensus estimates, the market reaction following its earnings call was strongly positive, suggesting investors focused on forward-looking statements.¹³ Nvidia shares also contributed significantly to the Nasdaq's gains, continuing to benefit from AI-related optimism.⁵

• Shifting Focus from Tariffs: Although tariff uncertainty remained a persistent theme mentioned in economic data releases and company communications ³, market participants appeared to prioritize corporate earnings and outlooks during this specific week. Reports on Friday suggested China was considering exemptions for some U.S. products from its retaliatory tariffs, potentially offering further relief to market sentiment.²²

• Economic Data Interpretation: Economic indicators released during the week presented a mixed picture. Forward-looking surveys pointed towards caution, while some activity data showed resilience, possibly influenced by businesses and consumers acting ahead of potential tariff impacts.³ The market appeared to focus on positive aspects, such as strong durable goods orders ¹⁷, or look past negative signals like deteriorating consumer sentiment.²⁰ This suggests a belief that strong corporate performance, especially in tech, could mitigate broader economic concerns for the time being.

• Interest Rate Expectations: U.S. Treasury yields eased over the week, providing support for equity valuations, particularly for growth-oriented stocks.³ The yield on the 10-year Treasury note declined from levels around 4.33%-4.35% earlier in the week ⁴ to finish around 4.25%-4.29% by Friday.⁷ Market expectations continued to factor in multiple potential Federal Reserve rate cuts later in 2025.³⁰

The market's robust rally, driven primarily by the technology sector, occurred despite plunging consumer sentiment readings and mixed economic data. Consumer confidence fell to its lowest level since mid-2022, with surveys indicating widespread worry about future inflation and job prospects linked to trade policy.²⁰ Concurrently, leading economic indicators continued to decline, signaling potential future economic slowing.¹⁸ However, the strong performance of the S&P 500 and Nasdaq suggests investors placed greater weight on tangible corporate results and forward guidance from influential companies like Alphabet ¹⁰ and the narrative presented by Tesla during its earnings call.¹³ This divergence indicates a narrowing of market focus onto corporate earnings as the dominant driver for this specific week.

Furthermore, the significant outperformance of growth stocks relative to value stocks ⁷, combined with the concurrent easing of Treasury yields ⁷, points towards a renewed appetite for risk among investors. Growth stocks, often more sensitive to interest rate changes, typically benefit from falling yields. The sharp rally in the Nasdaq ⁵ underscores this trend. Investors appeared willing to pay higher valuation multiples for growth potential, possibly betting that technological innovation, particularly in artificial intelligence as highlighted by Alphabet and Microsoft ¹⁰, would continue to drive profits despite the uncertain macroeconomic backdrop. This could also reflect a view that the most severe impacts of the tariff announcements earlier in April had already been absorbed by the market.

Volatility remained a feature of the market, although less pronounced than in preceding weeks.³ The CBOE Volatility Index (VIX) closed the week in the 24.8 to 26.8 range ¹⁶, lower than its peaks earlier in the month but still indicative of elevated investor caution.³³

Table 1: Major Index Performance (Week Ending April 25, 2025)

Key Economic Indicators & Gold Update

Economic data released during the week of April 21-25 painted a complex picture of the U.S. economy. Forward-looking indicators suggested increasing caution, while some measures of current activity displayed resilience, potentially skewed by anticipation of tariff effects. Gold prices, meanwhile, retreated from recent highs.

Key Data Releases:

• Leading Economic Index (LEI): The Conference Board reported on Monday, April 21, that the LEI for March declined by 0.7%. This followed a revised 0.2% decline in February.¹⁸ The report attributed the March decline primarily to weakening consumer expectations, a significant drop in stock prices during March, and softening new orders in manufacturing, all linked to heightened economic uncertainty surrounding pending tariff announcements.¹⁸ While the decline signals slowing economic activity ahead, The Conference Board noted the data did not yet suggest an imminent recession, though they revised their 2025 US GDP growth forecast down to 1.6% due to trade war impacts.¹⁸

• S&P Global Flash US PMI: Released on Wednesday, April 23, the flash Purchasing Managers' Index for April showed slowing growth in overall business activity. The Composite Output Index fell to 51.2, a 16-month low, down from 53.5 in March.³⁴ Services activity growth moderated significantly (index at 51.4 vs. 54.4 in March), while the Manufacturing PMI showed a marginal improvement (50.7 vs. 50.2), remaining slightly above the 50.0 no-change mark.³⁴ The report highlighted slumping business confidence and an increased rate of selling price inflation ³⁴, consistent with concerns raised by the LEI and the potential impact of tariffs noted in March PMI data.²³ Consensus forecasts had anticipated a contraction in manufacturing.³⁵

• Durable Goods Orders: Data released on Thursday, April 24, showed a surprisingly strong 9.2% jump in March orders for durable goods, items intended to last three years or more.¹⁷ This significantly exceeded the consensus estimate of a 2.0% rise.¹⁷ Orders excluding the volatile transportation sector also increased. Nondefense capital goods orders excluding aircraft, a proxy for business investment, posted a modest gain.¹⁹ The strength, particularly in autos ¹⁹, may reflect businesses pulling orders forward to get ahead of potential tariff-related price increases ³, suggesting underlying business investment remains cautious.¹⁹

• Initial Jobless Claims: For the week ending April 19, initial claims for unemployment benefits rose slightly to 222,000, up from a revised 216,000 the previous week.¹⁷ Continuing claims, however, decreased.¹⁷ This suggests the labor market remained relatively stable and resilient, despite broader economic concerns and the sharp deterioration in consumer expectations regarding future unemployment seen in sentiment surveys.²⁰

• University of Michigan Consumer Sentiment: The final April reading, released Friday, April 25, confirmed the preliminary report's sharp decline. The index settled at 52.2, down from 57.0 in March and marking its lowest point since July 2022.²¹ The Expectations Index component fell particularly hard, dropping to 47.3.²¹ Consumers cited significant worries about future labor market conditions, inflation pressures, and the impact of trade policy uncertainty.²⁰ Notably, 60% of survey respondents mentioned tariffs, generally expecting them to increase inflation and weaken growth.²¹ Year-ahead inflation expectations remained exceptionally high at 6.7%.²⁰ This deep consumer pessimism contrasts starkly with the week's positive stock market performance and some of the resilient activity data, raising questions about the sustainability of consumer spending.²⁰

The pronounced divergence between the extremely negative consumer sentiment readings, driven by fears over tariffs and inflation, and the robust March data for retail sales and durable goods orders creates considerable uncertainty. Sentiment surveys indicate consumers are deeply worried, which usually precedes spending cutbacks.²⁰ However, the strong March activity, potentially inflated by consumers and businesses pulling forward purchases before anticipated price hikes due to tariffs ³, masks the true underlying strength of demand. This makes the trajectory of consumer spending in the second quarter highly unpredictable.

Table 2: Key Economic Data Summary (Week of April 21-25, 2025)

Gold Update:

Gold prices experienced a decline during the week. COMEX Gold futures settled around $3,301.50 per ounce on Friday, April 25, marking a weekly loss of 0.65%.⁷ Spot gold prices closed the week near $3,318-$3,319 per ounce.³⁶ Price action was volatile; gold appeared to reach a peak early in the week, potentially exceeding $3,400 per ounce on Monday or Tuesday ³⁶, before correcting sharply lower mid-week.⁴⁰

The pullback in gold occurred despite ongoing geopolitical tensions and trade policy uncertainty, factors that typically bolster demand for the precious metal as a safe-haven asset. The strong performance of the equity market, indicating increased investor risk appetite, likely drew capital away from gold.⁵ Furthermore, after reaching record highs earlier in April ⁴², the metal may have been susceptible to technical consolidation or profit-taking. The US dollar's trajectory, which had weakened significantly earlier in the month ², may have stabilized, removing a previous tailwind for dollar-denominated gold prices.

Gold's decline during a week characterized by strong equity gains and easing Treasury yields suggests that investor risk appetite, fueled by positive technology sector earnings, temporarily overshadowed the metal's traditional appeal as a hedge against uncertainty. While falling yields could have supported gold, the metal weakened.⁷ The simultaneous rally in riskier assets like technology stocks ⁵ indicates a flow of capital towards potential growth opportunities. Investors appeared to prioritize the positive corporate earnings surprises from companies like Alphabet ¹⁰ and the market's favorable reaction to Tesla's outlook ¹³ over hedging against the risks highlighted by weak consumer sentiment and cautious leading indicators.¹⁸

Table 3: Gold Price Movement (Week Ending April 25, 2025)

Weekly change calculated from Apr 18 close.

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Technology & Growth Sector Highlights

The Technology & Growth sector was the standout performer for the week, driving the broader market's gains. The Nasdaq Composite's substantial 6.7% surge underscores the strength in this area.⁵ Key catalysts included positive earnings reports from major constituents and continued investor enthusiasm for artificial intelligence developments.

Table 4: Tech & Growth Stock Performance (Week Ending April 25, 2025)

Source: Closing prices from.¹⁶ Weekly change calculated based on closing prices from April 17 or April 18 (last trading day of prior week) from ³⁶ and April 25 closing prices from.¹⁶

Company-Specific Analysis:

• Tesla (TSLA): Tesla reported its Q1 2025 earnings on Tuesday, April 22.¹³ The results missed analyst expectations across key metrics. Total revenue came in at $19.3 billion, a 9% year-over-year decline and below the anticipated $21 billion+.¹⁴ Adjusted earnings per share (EPS) was $0.27, significantly lower than the consensus range of $0.35-$0.41.¹³ The company attributed the weaker performance partly to production line changes for the updated Model Y and reduced average selling prices.¹⁴ GAAP automotive gross margin was 16.3%, and operating margin compressed to 2.1%.¹⁴ Despite these misses, Tesla generated positive free cash flow of $664 million.¹⁴ During the earnings call, management provided a "Company Update".¹³ CEO Elon Musk acknowledged tariff impacts on the Optimus robot supply chain but reiterated plans to produce 5,000 units this year.¹³ Following the call, Tesla's stock surged, gaining nearly 10% on Friday and finishing the week up approximately 18.0%.¹⁵ The stock's sharp rally despite the significant Q1 earnings and revenue misses indicates that investors placed far greater emphasis on the forward-looking commentary and strategic narrative presented during the earnings call than on the reported quarterly results. Even with acknowledged challenges like tariff impacts on parts imports for future models like the Cybercab and Semi ¹³, the market reaction suggests confidence in Tesla's future growth prospects, potentially related to updates on Full Self-Driving (FSD), upcoming vehicle models, or the Optimus project, outweighing the weak financial performance of the quarter.¹³

• Alphabet (GOOGL/GOOG): Alphabet reported Q1 2025 earnings on Thursday, April 24, exceeding analyst expectations.¹⁰ Revenue reached $90.2 billion, up 12% year-over-year, beating consensus estimates.¹⁰ Diluted EPS was $2.81, substantially higher than the $2.01 analysts expected.¹⁰ Growth was broad-based, with Google Search revenue up 10% and YouTube ads revenue also up 10%.¹⁰ Google Cloud revenue grew a strong 28% year-over-year to $12.3 billion, driven by demand for core platform services and AI solutions, though this figure was slightly below some analyst targets.¹⁰ Operating income increased 20% year-over-year, with operating margin expanding to 34%.¹⁰ Alphabet also announced a 5% increase in its quarterly dividend and authorized an additional $70 billion for stock repurchases.¹¹ Management cited strong momentum across the business and highlighted breakthroughs with its Gemini AI models.¹⁰ Regarding tariffs, the company noted only a "slight headwind" to ad spending so far.⁵⁸ Alphabet's stock rose following the report, gaining about 1.5% on Friday and contributing to a weekly gain of approximately 6.9%.¹⁶ The strong performance, particularly the significant earnings beat driven by AI integration in Search and continued Cloud growth, combined with enhanced capital returns via the dividend increase and buyback authorization, clearly bolstered investor confidence. This positive reception suggests the market viewed Alphabet as successfully navigating economic uncertainties and effectively capitalizing on the AI trend, making the minor Cloud revenue miss and cautious tariff commentary relatively insignificant factors for the week.¹⁰

• Microsoft (MSFT): Microsoft announced updates to its Power BI platform, including enhancements to its AI Copilot features and Azure Maps integration.³¹ At the KubeCon conference, the company highlighted AI integration within Azure Kubernetes Service (AKS).¹ Microsoft scheduled its next earnings report for April 30.⁵⁹ The stock gained approximately 3.7% for the week, rising 1.2% on Friday.¹⁶ Performance was likely supported by the broader tech rally and sustained investor interest in Microsoft's AI strategy.¹

• Meta Platforms (META): News flow focused on the company's ongoing AI initiatives, including Meta AI usage growth and Llama models, alongside monetization efforts like Meta Verified.⁶² The company received EU approval to use public social media content for AI training.⁶⁴ Reports mentioned layoffs in the Reality Labs division but continued overall hiring.⁶⁵ Meta's stock performed strongly, gaining approximately 12.9% for the week and rising 2.6% on Friday.¹⁶ Investors appeared focused on AI progress and engagement metrics, looking past the ongoing FTC antitrust trial and potential advertising headwinds noted by analysts ahead of its earnings report (scheduled after this week).⁵⁸

• Apple (AAPL): A report surfaced stating Apple intends to manufacture the majority of iPhones sold in the U.S. in India by the end of 2026.³⁰ The company's stock gained approximately 6.2% for the week, rising 0.4% on Friday.¹⁶ The stock participated in the tech sector rally, with the India production news not significantly impacting its positive weekly trend ahead of its May 1 earnings release.⁶⁶

• Nvidia (NVDA): No major company-specific news was released during the week. Nvidia's stock was a strong performer, gaining approximately 10.8% for the week and 4.2% on Friday.¹⁶ The advance was likely fueled by the overall tech rally, positive AI sentiment following Alphabet's results, and continued strong investor conviction in its AI market leadership ahead of its May 28 earnings report.⁶⁷

• Salesforce (CRM): No major company-specific news emerged during the week. The stock gained approximately 6.1% for the week, rising 1.3% on Friday.¹⁶ Its performance likely tracked the broader tech sector uplift, potentially benefiting from positive commentary on cloud and AI from Alphabet and Microsoft.

• Netflix (NFLX): Having reported strong Q1 earnings just prior to the week's start (April 17) ⁶⁸, Netflix saw continued positive momentum. News analysis focused on the earnings beat, optimistic guidance, and the decision to cease reporting subscriber numbers.⁶⁹ The stock gained approximately 10.1% for the week, adding 0.4% on Friday.¹⁶

• Broadcom (AVGO): No major company-specific news was released during the week. Broadcom's stock gained approximately 12.4% for the week, rising 2.2% on Friday.¹⁶ The strong performance likely reflects participation in the semiconductor and AI rally, boosted by positive sector sentiment and focus on AI infrastructure plays.

• Amazon (AMZN): No major company-specific news occurred during the week. Amazon's stock gained approximately 9.5% for the week, adding 1.3% on Friday.¹⁶ The gains were likely driven by the broad market rally, positive sentiment from Alphabet's cloud results potentially benefiting AWS perception, and investor anticipation ahead of its own earnings report scheduled for April 29.⁷³

Financial Institutions Sector Highlights

The Financial Institutions sector exhibited mixed performance during the week, generally lagging the strong advance seen in technology stocks. Performance was influenced by broader market factors such as easing interest rate expectations and mixed economic data, rather than significant company-specific news within the sector for the listed companies.

Table 5: Financials Stock Performance (Week Ending April 25, 2025)

Source: Closing prices from.¹⁶ Weekly change calculated based on closing prices from April 14 or April 17/18 (last trading day of prior week) from ¹⁶ and April 25 closing prices from.¹⁶

Company-Specific Analysis:

No significant company-specific news releases were identified for Berkshire Hathaway, JPMorgan Chase, Visa, Mastercard, or Bank of America during the week of April 21-25 based on the provided materials.

• Berkshire Hathaway (BRK.B): The stock finished the week slightly lower (-0.2%). Prior news focused on its strong year-to-date performance, large cash position, and valuation considerations.⁷⁷

• JPMorgan Chase (JPM): The stock gained 3.7% for the week. Its performance likely reflects continued positive investor reaction to its Q1 earnings reported on April 15.⁸²

• Visa (V): The stock gained 1.6% for the week, tracking the broader market. No relevant company news was found in the provided snippets.⁸³

• Mastercard (MA): The stock gained 3.1% for the week. The company announced its Q1 earnings call date (May 1) prior to the week.⁹¹

• Bank of America (BAC): The stock gained 5.5% for the week, potentially reflecting continued positive sentiment following its Q1 earnings report on April 15.⁹⁴

Sector Drivers:

The performance of these financial institutions was primarily influenced by broader market trends rather than new company-specific catalysts during this week. Easing Treasury yields generally provide a positive backdrop for bank valuations and potentially net interest margins, although the prospect of future rate cuts introduces uncertainty.² The mixed economic data releases added another layer of complexity regarding the outlook for loan growth and credit quality. The stronger weekly gains for JPMorgan Chase and Bank of America suggest investors continued to react favorably to their earnings reports from the previous week. Conversely, Berkshire Hathaway's slight decline might relate to valuation concerns highlighted in prior analyses ⁷⁹, suggesting its earlier strong run faced some consolidation.

Consumer Staples & Healthcare Sector Highlights

The Consumer Staples and Healthcare sectors presented a mixed picture during the week, influenced heavily by company-specific earnings reports. Healthcare saw significant divergence, with AbbVie reporting strong results while UnitedHealth Group continued to face pressure from its earlier guidance cut. Consumer Staples constituent Procter & Gamble declined following its earnings release.

Table 6: Consumer Staples & Healthcare Stock Performance (Week Ending April 25, 2025)

Source: Closing prices from.¹⁶ Weekly change calculated based on closing prices from April 17 or April 18 (last trading day of prior week) from ¹⁶ and April 25 closing prices from.¹⁶

Company-Specific Analysis:

• AbbVie (ABBV): AbbVie reported Q1 2025 earnings on Friday, April 25, beating analyst expectations on both revenue and earnings.⁹⁷ Adjusted EPS came in at $2.46, exceeding the $2.39 consensus and the company's own guidance.⁹⁸ Revenue of $13.34 billion (up 8.4% YoY) also surpassed the $12.91 billion consensus.⁹⁸ Growth was driven by exceptional performance from its newer immunology drugs, Skyrizi (sales +72% YoY) and Rinvoq (sales +59.7% YoY), which both significantly beat estimates.⁹⁸ These gains more than compensated for the anticipated decline in sales of Humira (-49.5% YoY) following its loss of U.S. exclusivity.⁹⁸ The neuroscience and oncology portfolios also performed well, beating forecasts.⁹⁸ AbbVie raised its full-year 2025 adjusted EPS guidance to $12.09-$12.29, up from $11.99-$12.19 previously, although management noted this revised guidance did not incorporate potential impacts from pharmaceutical tariffs.⁹⁸ The stock reacted positively to the news, rising 2.9% on Friday and finishing the week with a similar gain.¹⁶ The results demonstrated AbbVie's successful navigation of the Humira patent expiration, with its key growth drivers Skyrizi and Rinvoq showing robust momentum that significantly offset the Humira decline. This strong execution, leading to the earnings beat and guidance raise, appeared to outweigh the known Humira erosion and the unquantified risk of future tariffs, thereby boosting investor confidence.⁹⁸

• Procter & Gamble (PG): Procter & Gamble reported its Q3 fiscal 2025 earnings on Thursday, April 24.¹⁰¹ The results were mixed. Core EPS of $1.54 represented a 1% increase year-over-year and slightly beat analyst estimates of $1.52.¹⁰³ However, net sales declined 2% year-over-year to $19.8 billion, falling short of expectations.¹⁰³ Organic sales growth was modest at 1%.¹⁰² The company maintained its previously issued guidance for the full fiscal year.¹⁰⁴ Following the report, PG stock declined significantly, falling nearly 7% on Thursday ¹⁰⁵ and ending the week down approximately 5.6%.¹⁰⁶ The market's negative reaction suggests that the revenue miss and tepid organic growth overshadowed the slight earnings beat, possibly raising concerns about volume trends or pricing power in the current economic climate.¹⁰³

• Eli Lilly (LLY): No major company-specific news was identified during the week of April 21-25. The stock continued to benefit from positive sentiment following highly favorable trial results for its oral weight-loss drug candidate, orforglipron, announced the previous week.¹⁰⁸ LLY gained approximately 5.3% for the week.¹⁶

• UnitedHealth Group (UNH): No major news occurred during the week. However, the stock continued its decline, falling 8.0% for the week.¹⁶ This extended the significant losses incurred the prior week after the company reported disappointing Q1 earnings on April 17 and slashed its full-year profit guidance due to unexpectedly high medical costs in its Medicare Advantage business.¹¹¹ An investigation into potential securities claims was also announced.¹¹¹

• Johnson & Johnson (JNJ): No major company-specific news was identified during the week. The stock traded relatively flat, ending the week down slightly (-0.2%) ¹⁶, reflecting its defensive characteristics amid market fluctuations and the digestion of its Q1 earnings reported on April 15.¹¹⁶

• Costco (COST): No major news was released during the week. The stock gained approximately 1.8% ¹⁶, participating in the broader market upswing. Prior news included a dividend increase announced April 16.¹¹⁸

• Walmart (WMT): No major news was released during the week. The stock declined slightly (-1.1%).¹⁶ Its flat performance might reflect lingering caution related to the company's previously retracted Q1 income guidance due to tariff uncertainty ¹¹⁹, offsetting benefits from the general market rally.

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Energy & Industrial Sector Highlights

The Energy sector saw modest gains, while the Industrial sector (represented solely by Home Depot in this list) also edged higher, influenced by broader market movements and specific economic factors.

Table 7: Energy & Industrial Stock Performance (Week Ending April 25, 2025)

Source: Closing prices from.¹⁶ Weekly change calculated based on closing prices from April 17 (last trading day of prior week) from ⁴⁵ and April 25 closing prices from.¹⁶

Company-Specific Analysis:

• Exxon Mobil (XOM): Exxon Mobil announced on April 22 that it would release its Q1 2025 financial results on Friday, May 2.¹²¹ No earnings were reported during the target week. Analyst consensus estimates for Q1 pointed towards an EPS of approximately $1.72, representing a decline compared to the same quarter last year.¹²² Prior news highlighted leadership changes and long-term strategy.¹²⁴ The stock gained approximately 1.6% for the week.⁵⁹ This positive performance occurred despite analyst expectations for a year-over-year earnings decline ¹²² and a slight decrease in WTI crude oil prices over the week.⁷ This suggests investors may be focused on factors beyond immediate earnings, such as Exxon Mobil's strong dividend history ¹²³, perceived stability in an uncertain environment, strategic positioning including lower production costs ¹²⁶, or simply benefiting from the overall positive market sentiment.

• Home Depot (HD): No major company-specific news was released during the week. The company's Q1 earnings are scheduled for May 20.¹²⁸ Previous communications included its Q4 earnings report (released in February) and FY25 guidance, which projected modest sales growth but a slight decline in EPS, citing pressure on big-ticket discretionary projects due to higher interest rates and affordability constraints.¹²⁹ Home Depot stock gained approximately 0.7% for the week.¹⁶ The modest gain, underperforming the broader market rally, likely reflects ongoing investor caution tied to the company's earlier guidance and the uncertain outlook for the housing market and large-scale home improvement spending. Weak March housing starts data released the prior week ¹⁹ provided a challenging backdrop.

Sector Drivers:

Energy sector performance is typically linked to commodity price movements. WTI crude oil futures experienced a slight decline of about 1.9% during the week ⁷, suggesting XOM's gains were more influenced by market sentiment than oil prices this particular week. The Industrial sector, represented here by Home Depot, remains sensitive to the overall economic outlook, housing market trends, interest rates, and consumer confidence regarding large purchases.

Sources:

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Baked with love,

Anna Eisenberg ❤️