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S&P 500 Notches Longest Winning Run Since January: Closing Bell

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April 25, 2025

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A solid Wall Street week ended with gains for stocks as a rally in the market’s most-influential group offset conflicting signals about progress in President Donald Trump’s trade negotiations.

The surge in megacaps sent the S&P 500 above 5,500, with the gauge notching its longest advance since January. Tesla Inc. jumped 9.8% while Alphabet Inc. climbed on solid results. Equities briefly lost steam as Trump suggested another delay to reciprocal tariffs was unlikely, and he wouldn’t drop levies on China without “something substantial” in return. Bonds and the dollar rose.

“Markets have staged an impressive recovery,” said Mark Hackett at Nationwide. “While fears of a 2008- or 2020-style crisis are fading, the road back to record highs won’t be easy. Markets are showing resilience, but still face the same persistent challenges, including tariff uncertainty and signs of an economic slowdown.”

Worries about the economic fallout from tariffs drove US consumer sentiment to one of its lowest readings on record while long-term inflation expectations climbed to the highest since 1991.

As investors weighed mixed signs on whether the trade war between the world’s two largest economies is de-escalating, Bloomberg News reported China is considering suspending its 125% tariff on some US imports.

Trump told Time magazine he expects to wrap up trade deals with US partners looking for lower tariffs in three to four weeks. But the president gave confusing signals about the status of talks with China, even as Beijing has denied negotiations are taking place.

“We are currently in tariff purgatory,” said Joachim Klement, strategist at Panmure Liberum. “There is no fundamental change to the outlook, so markets latch on to noise and get constantly whipsawed by the ever-changing utterances of Donald Trump and his cabinet.”

Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.

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Guests & Subjects Covered

Wall StreetPresident Donald TrumpsJanuary Tesla IncAlphabet IncMark HackettNationwide WhileBloomberg NewsJoachim Klement

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