Markets have been on a rollercoaster ever since President Donald Trump declared “Liberation Day,” unleashing a blur of tariff impositions, reversals, reimpositions, retaliatory blows, and exemptions.
For the week ending April 11, U.S. indexes swung wildly — but ended up clawing back some of the ground lost earlier. The S&P 500 closed the week up 8.2%, while the Dow flirted with record territory but ended with a more modest 6% gain. The Nasdaq, powered by dip-buying in bruised Big Tech names, finished roughly 12% above its Monday lows.
On Friday, first-quarter bank earnings arrived with a dose of realism: JPMorgan Chase (JPM+4.84%), BlackRock (BLK+3.01%), and Morgan Stanley (MS+2.05%) all posted strong results but struck a cautious tone on the economic outlook. At the same time, consumer sentiment slumped to its lowest level since 2022.
The safe-haven scramble also continued. Gold soared to a record $3,254.90 per ounce on Friday, and the 10-year Treasury yield spiked to 4.57% — its biggest weekly jump in decades. Analysts cited growing unease over policy volatility, while The Wall Street Journal noted mounting hedging activity and foreign investors shifting away from U.S. debt.
Now comes another high-stakes week, with major companies across finance, healthcare, media, and logistics set to report results. Earnings from Goldman Sachs (GS+1.39%), Netflix (NFLX-0.29%), Johnson & Johnson (JNJ+2.19%), UnitedHealth (UNH+0.92%), CSX (CSX+0.74%), and Kinder Morgan (KMI+2.58%) will offer a fresh read on everything from M&A to supply chains and consumers’ streaming preferences.
Here’s what to watch this week.
Goldman Sachs kicks off the week. Investors will be watching its earnings for updates on deal pipelines, market volatility, and risk appetite.
Tuesday brings a wave of key reports that cut across sectors. Bank of America (BAC+0.39%) and Citigroup (C+0.76%) will offer fresh perspective on lending conditions, consumer credit health, and trading activity. United Airlines (UAL+4.37%), meanwhile, is expected to provide a read on travel demand and cost pressures.
The March Import and Export Price Indexes will also drop, offering clues on tariff effects and supply chain inflation.
Abbott Labs (ABT+2.40%), U.S. Bancorp (USB+1.70%), Kinder Morgan, and CSX headline. Together, they’ll offer signals on healthcare demand, regional banking pressures, infrastructure activity, and the state of freight and transport networks.
The March retail sales report — due that morning — could move markets with a read on household spending.
Thursday brings a mix of corporate and economic data with the potential to move markets.
Investors will look to UnitedHealth Group for signals on healthcare costs, while Netflix earnings will shed light on global streaming demand and subscriber trends amid economic uncertainty. American Express (AXP+2.00%) results will offer a read on consumer and business spending, particularly among higher-income households.
Meanwhile, the weekly initial jobless claims report for the period ending April 12 will provide a timely check on labor market stability.
U.S. financial markets are closed for Good Friday.
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