Single trade deal propels Wall Street higher, Dow Jones adds 300 points

30 Apr 2025

NEW YORK, New York – A single potential U.S. trade deal set markets alight Tuesday with all the major indices gaining ground.

“I have a deal done, done, done, done, but I need to wait for their prime minister and their parliament to give its approval, which I expect shortly,” Commerce Secretary Howard Lutnick told CNBC Tuesday. He did not name the country concerned. 

Despite the surge following that proclamation, investors and traders remained on edge over trade tensions. “Until we get some resolution on the trade front, I don’t think much else matters,” Ross Mayfield, investment strategist at Baird told CNBC Tuesday.

Nonetheless, the S&P 500 added 0.58 percent, while the Dow Jones Industrial Average surged 300 points.

Following are the closing quotes on Tuesday for the key U.S. stock market indices:

  • Standard and Poor’s 500: Rose 0.58 percent to close at 5,560.83, gaining 32.08 points in broad-based strength. Trading volume reached 2.755 billion shares.

  • Dow Jones Industrial Average: Jumped 300.03 points (0.75 percent) to 40,527.62, with 424.945 million shares traded.

  • NASDAQ Composite: Advanced 0.55 percent to 17,461.32, adding 95.19 points on heavy volume of 12.168 billion shares.

Market Drivers

Investors cheered fresh economic data suggesting cooling inflation, reinforcing expectations that the Federal Reserve may begin cutting interest rates as early as September. Technology and financial stocks led the rally, while energy shares also contributed to gains as oil prices stabilized. “A lot of the economic data is going to be mixed, it’s going to be really hard to discern tariff impacts probably for the next month or two,” Anthony Saglimbene, chief market strategist at Ameriprise Financial in Troy, Michigan told Reuters news agency Tuesday.

“Corporate profits, the companies that are most impacted by tariffs, are doing what we would expect, they’re cutting guidance or they’re suspending guidance.”

Looking Ahead

Traders will closely monitor Fed Chair Jerome Powell’s testimony before Congress on Wednesday for further clues on monetary policy direction.

U.S. Dollar Gains Against Major Currencies Tuesday Amid Mixed FX Market Movements

The foreign exchange market saw a mixed performance on Tuesday, with the U.S. dollar strengthening against several key currencies while retreating slightly against others. Here’s a breakdown of the latest forex movements:

Major Currency Pairs

  • EUR/USD (Euro to US Dollar): Fell to 1.1382, declining 0.31 percent as the dollar gained ground.

  • USD/JPY (US Dollar to Japanese Yen): Rose to 142.31, climbing 0.25 percent amid continued dollar strength.

  • USD/CAD (US Dollar to Canadian Dollar): Inched up to 1.3838, gaining 0.08 percent in a muted session.

  • GBP/USD (British Pound to US Dollar): Dropped to 1.3402, down 0.22 percent as the pound weakened.

Swiss Franc and Commodity Currencies Under Pressure

  • USD/CHF (US Dollar to Swiss Franc): Jumped to 0.8240, surging 0.56 percent in one of the day’s biggest moves.

  • AUD/USD (Australian Dollar to US Dollar): Tumbled to 0.6381, falling sharply by 0.76 percent amid risk-off sentiment.

  • NZD/USD (New Zealand Dollar to US Dollar): Slid to 0.5936, down 0.70 percent, tracking weakness in commodity-linked currencies.

Market Drivers

The U.S. dollar’s broad strength came as investors weighed mixed economic signals, including inflation concerns and shifting central bank expectations. The Swiss franc and Japanese yen saw contrasting moves, while commodity currencies like the Australian and New Zealand dollars faced pressure due to softer risk appetite.

Global Markets Show Mixed Performances on Tuesday

Global stock indices delivered a mixed performance on Tuesday, with gains in Europe and Asia offset by declines in other major markets. Here’s a detailed look at the closing figures:

Canada

  • S&P/TSX Composite: Gained 75.89 points (0.31 percent) to finish at 24,874.48, with 199.324 million shares changing hands.

UK and Europe

  • FTSE 100 (UK): Rose to 8,463.46, up 46.12 points or 0.55 percent.

  • DAX (Germany): Climbed to 22,425.83, gaining 154.16 points or 0.69 percent.

  • CAC 40 (France): Dipped slightly to 7,555.87, down 17.89 points or 0.24 percent.

  • EURO STOXX 50: Fell to 5,161.90, losing 8.59 points or 0.17 percent.

  • Euronext 100 (EU): Advanced to 1,510.48, up 5.49 points or 0.36 percent.

  • BEL 20 (Belgium): Jumped to 4,376.51, rising 43.58 points or 1.01 percent.

Asia Pacific Markets

  • Hang Seng (Hong Kong): Edged up to 22,008.11, gaining 36.15 points or 0.16 percent.

  • STI (Singapore): Slipped to 3,805.18, down 6.62 points or 0.17 percent.

  • S&P/ASX 200 (Australia): Surged to 8,070.60, up 73.50 points or 0.92 percent.

  • All Ordinaries (Australia): Rose to 8,287.90, increasing 84.00 points or 1.02 percent.

  • S&P/NZX 50 (New Zealand): Dropped to 12,025.45, down 73.44 points or 0.61 percent.

  • Nikkei 225 (Japan): Gained 134.25 points or 0.38 percent, closing at 35,839.99.

  • KOSPI (South Korea): Increased to 2,565.42, up 16.56 points or 0.65 percent.

  • TWSE (Taiwan): Rallied to 20,232.63, adding 198.22 points or 0.99 percent.

  • SSE Composite (China): Slightly declined to 3,286.65, down 1.76 points or 0.05 percent.

Southeast Asian Markets

  • S&P BSE SENSEX (India): Inched up to 80,288.38, gaining 70.02 points or 0.09 percent.

  • IDX Composite (Indonesia): Rose to 6,749.08, up 26.11 points or 0.39 percent.

  • FTSE Bursa Malaysia KLCI: Fell to 1,515.56, losing 6.03 points or 0.40 percent.

Middle East 

  • TA-125 (Israel): Gained 8.36 points or 0.33 percent, closing at 2,557.21.

  • EGX 30 (Egypt): Increased to 32,043.50, up 28.50 points or 0.09 percent.

Africa 

  • Top 40 USD Net TRI (South Africa): Soared to 4,859.59, rising 73.97 points or 1.55 percent.

Market Sentiment

While European and select Asian markets posted solid gains, some indices faced pressure amid regional economic concerns. Investors remain cautious ahead of key economic data releases later in the week.

Related story:

Monday 28 April 2025 | U.S. stock markets open week with mixed performances | Big News Network 

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