Wall Street Rebounds Ahead Of Tesla Earnings, Dow Adds 1,000 Points, Bitcoin Hits $91,000: What's Driving Markets Tuesday?

Author: Piero Cingari | April 22, 2025 12:48pm

After Monday’s broad-based sell-off — triggered by renewed pressure from President Donald Trump on Federal Reserve Chairman Jerome Powell, raising concerns over the integrity of central bank independence — Wall Street bounced back with strength on Tuesday, buoyed by upbeat signals from the corporate earnings season.

By midday in New York, major indices were up by nearly 3%, with all 11 sectors of the S&P 500 trading in positive territory. Consumer discretionary stocks led the rally.

The Dow Jones Industrial Average surged over 1,000 points, breaking above the 39,200 mark, as bullish momentum swept across Wall Street. Only a few S&P 500 stocks remained in negative territory.

At a JPMorgan-hosted event in Washington, U.S. Treasury Secretary Scott Bessent hinted at a potential de-escalation in tensions with China, further supporting risk sentiment.

Shares of Tesla Inc. (NASDAQ:TSLA) surged nearly 5% as investors looked ahead to the company's first-quarter earnings report, due after the closing bell.

In the bond market, after two sessions of rising Treasury yields, a modest pullback suggested some investors saw an opportunity to buy as long-dated yields neared the 5% threshold.

On the commodities front, gold briefly touched $3,500 per ounce overnight before retreating to $3,420 amid an improvement in equity market sentiment. Oil jumped 2.3%, with WTI crude reaching $64 per barrel, while copper gained 2.8%.

The cryptocurrency market also reflected a broader risk-on mood. Bitcoin (CRYPTO: BTC) rallied 4% to $91,000, while Ethereum (CRYPTO: ETH) advanced more than 7% to $1,700.

Tuesday’s Performance In Major U.S. Indices, ETFs

Major Indices	Price	Chg	1-day %
Nasdaq 100	18,321.10	+512.80	2.9%
Dow Jones	39,215.87	+1,045.46	2.7%
S&P 500	5,297.34	+139.14	2.7%
Russell 2000	1,889.24	+48.92	2.7%

According to Benzinga Pro data:

• The SPDR S&P 500 ETF Trust (NYSE:SPY) rallied 2.7% to $527.95.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) rose 3.9% to $392.14.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) rose 3% to $446.20.
• The iShares Russell 2000 ETF (NYSE:IWM) rallied 2.7% to $187.68.
• The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) outperformed, up 3.8%.

Tuesday’s Stock Movers

Stocks reacting to quarterly earnings included:

• General Electric Co. (NYSE:GE) up 4.8%
• Verizon Communications Inc. (NYSE:VZ) up 0.5%,
• RTX Corp. (NYSE:RTX) down 8.7%
• Danaher Corp. (NYSE:DHR) up 6.6%,
• Lockheed Martin Corp. (NYSE:LMT) up 2.4%,
• Moody’s Company (NYSE:MCO) up 3%
• 3M Company (NYSE:MMM) up 8%
• Northrop Grumman Corp. (NYSE:NOC) down 13%
• Equifax Inc. (NYSE:EFX) up 14%.
• Halliburton Inc. (NYSE:HAL) down 4.9%.

Shares of First Solar Inc. (NASDAQ:FSLR) soared 12% as the U.S. administration imposed tariffs up to 3,521% on solar imports from Southeast Asia.

S&P 500’s Top 5 Gainers

Company	% Change
Equifax Inc.	14.34%
First Solar, Inc.	12.35%
Pentair plc (NYSE:PNR)	9.59%
Invesco Ltd. (NYSE:IVZ)	9.17%
PulteGroup, Inc. (NYSE:PHM)	8.30%

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Photo: Shutterstock

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