Stock market today: US stock futures slip as Wall Street weighs easing trade tensions

Bitcoin (BTC-USD) gained more than 2% on Friday to rise above $95,000.

Over the past five days, the world’s largest cryptocurrency is up more than 11%, outperforming the major averages, which were all on track to close out the week with gains.

As of Friday morning, bitcoin was up 2% year to date, compared to a 6% drop on the Dow Jones Industrial Average (^DJI).

The S&P 500 (^GSPC) and the Nasdaq Composite (^IXIC) are 6% and 10% lower, respectively, since the start of the year.

Stocks were mixed on Friday morning as the final reading for Consumer Sentiment from the University of Michigan survey fell to 52.2 for April, compared to expectations of 50.5.

The Dow Jones Industrial Average (^DJI) fell 0.6%. The S&P 500 (^GSPC) was relatively flat while the Nasdaq Composite (^IXIC) gained 0.3%.

US stocks were little changed on Friday as trade tensions eased and investors digested earnings from Alphabet (GOOG) and Intel (INTC).

The Dow Jones Industrial Average (^DJI) fell 0.2%. The S&P 500 (^GSPC) and Nasdaq Composite (^IXIC) were trading just above the flat line.

Stocks were attempting to extend their three-day rally after a report Friday said that China may pause its 125% tariff on some US goods, boosting market sentiment.

Meanwhile, shares of Google’s parent Alphabet (GOOG) jumped after the company reported solid first quarter results, raised its dividend 5%, and announced $70 billion in stock buybacks.

Intel (INTC) stock dropped 5% after the chipmaker, which also beat on earnings, issued a disappointing outlook. The company’s new CEO, Lip-Bu Tan, announced a major workplace overhaul that aims to boost innovation.

A warning from analysts on corporate earnings in the post-“Liberation Day” world, via Bloomberg:

Read more here.

Here’s a look at some trending tickers as stock futures slipped after a three-day rally and earnings drove individual stock moves:

Alphabet (GOOG) shares jumped nearly 4% after the Google parent company reported solid first quarter results, raised its dividend 5%, and announced $70 billion in stock buybacks.

Intel (INTC) stock dropped 5% after the chipmaker, which also beat on earnings, issued a disappointing outlook. In its first earnings since new CEO Lip-Bu Tan took over, Intel cited “elevated uncertainty” in the macro environment for the cautious outlook.

Meta (META) shares added more than 2% premarket after reports that the company laid off more than 100 people in its Reality Labs division. The Information reported that the layoffs impacted Oculus Studios, which develops apps and games for the company’s Quest headsets. Meta is scheduled to report first quarter earnings next Wednesday.

AbbVie (ABBV) stock popped 3% after the pharmaceutical company raised its 2025 profit forecast and beat Wall Street’s Q1 earnings expectations. Strong sales of its newer drugs Skyrizi and Rinvoq were a highlight in the quarter.

Phillips 66 (PSX) stock is off by 2% after the US refiner reported a bigger-than-expected loss in the first quarter on Friday. Seasonal maintenance and downtime weighed on margins, Reuters reported.

Alphabet (GOOG, GOOGL) stock rose 4.7% in premarket trading after the Big Tech giant reported better-than-expected earnings on Thursday.

Year to date, the stock is still off by 15%.

Google’s ad revenue didn’t show signs of weakness, which some analysts were watching for in the aftermath of President Trump’s “Liberation Day” tariffs. Cloud revenue grew to $12.2 billion from $9.5 billion during the same period last year.

Google also announced a 5% dividend increase and $70 billion in stock buybacks.

The company’s results come after another antitrust loss last week. On April 17, a US federal judge found that Google holds an illegal monopoly over the online advertising market.

Read more about Google’s earnings results here.

Bloomberg News reports:

Gold (GC=F) fell at the end of a volatile week that saw prices notch a record before retreating, with signs some trade tensions may be easing.

Bullion shed as much as 1.9%, dropping for the third time in four sessions. China is considering the suspension of its 125% tariff on some US imports, people familiar with the matter said. Elsewhere, Treasury Secretary Scott Bessent said the US and South Korea could reach an “agreement of understanding” on trade as soon as next week.

“Headlines over potential, partial exemptions in retaliatory tariffs further boosted sentiment today and allowed gold to dip below $3,300 levels,” said Yuxuan Tang, a strategist at JPMorgan Private Bank. Still, since 2022, gold’s dips have usually been quickly bought back, she added.

Read more here.