US stocks hovered close to the flatline on Thursday after a volatile week, as markets continued to assess the outlook for US trade flows and how it may impact corporate returns. The S&P 500 and the Nasdaq 100 slightly higher, while the Dow was 150 points lower.
Equities were supported this week by President Trump's remarks that tariffs against China would not remain at the 145% level in the longer term. Still, Treasury Secretary Bessent noted that talks with China have not yet started, and Beijing claimed it will not dialogue before tariffs by the US are lowered, raising skepticism on a resolution.
IBM slumped 7% after missing results, while P&G dropped by 4% after lowering its guidance and Merck lost 1.5% after trimming its outlook on the impact of tariffs. In turn, Alphabet was higher ahead of its report after the close.
The latest hard data was mixed, as core sections of factory shipments missed the consensus in March, but outstanding jobless claims tested their lowest this year.
Source: Trading Economics
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