Market Brief 1 May, 2025

Good evening, investors and traders! The markets are showing positive momentum today, with the Nasdaq 100 Index (NDX) up by 1.7% to 19,905.28 and the S&P 500 Index (GSPC) up by 0.75% to 5,598.57. Several key events are driving market sentiment, including strong earnings reports from major tech companies like Microsoft and Meta, which have boosted investor confidence. The US economy contracted in the first quarter, marking its first contraction in three years, driven by a surge in imports as businesses rushed to avoid rising costs from Trump's tariffs. The Bank of Japan kept interest rates steady but slashed its 2025 growth forecasts due to concerns about the impact of trade tensions. Meanwhile, the crypto market is showing renewed vitality, with the total market cap reclaiming $3 trillion, fueled by institutional interest and the potential for ETF approvals.