Markets React to Trade War and Fed Commentary
U.S. stock futures showed mixed trends following a significant market drop the previous day due to trade war concerns and comments by Fed Chief Jerome Powell. Nasdaq and S&P 500 futures pointed higher, while Dow futures fell 1.5%, impacted heavily by a 20% drop in UnitedHealth Group shares after cutting its 2025 profit forecast. Nvidia shares, having declined nearly 7% due to a $5.5 billion charge related to U.S. chip export restrictions to China, showed signs of recovery. CEO Jensen Huang is reported to be in China for strategic discussions. Netflix is set to release Q1 earnings post-market, with expectations of 12% revenue growth and long-term plans to double revenue by 2030. Taiwan Semiconductor Manufacturing Co. delivered strong Q1 results with revenue rising 42% year-over-year and reaffirmed its 2025 revenue forecast, boosting its U.S.-listed shares. Additionally, Bitcoin rose to around $84,700 and oil prices increased by more than 1%, while the markets prepare to close for Good Friday, with bond markets shutting early today.