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Daily Wrap-Up: Gaining Momentum | Apr 24, 2025

By March 28th, 2026General Articles2 min read

Thursday’s session in the S&P 500 index futures broke free from major trade war headlines, forging a three-day win streak as momentum took hold. The market’s steady climb hinted at growing confidence amid easing trade fears and solid earnings.

After some overnight selling, bulls found support at 5355.25 in the early morning, stopping short of filling the gap to Tuesday’s high of 5339.25. Bulls took the reins from that low and never looked back. Durable goods orders data hit at 8:30 AM ET, soaring to 9.2% against a 1.6% forecast, but failed to significantly sway the rally’s direction. After swatting away bears pre-open, the regular session kicked off just shy of the premarket high, with buyers quickly blasting through to new peaks. Fed Board Member Waller’s morning remarks, hinting at potential rate cuts tied to rising employment, slightly lifted odds of near-term cuts per the CME FedWatch tool, fueling the bullish surge.

The rally’s pace eased mid-morning, turning somewhat choppy, yet bulls held firm through the session’s end. A final buying burst sealed the day near fresh highs at 5511.25, up 109.50 handles. After-hours trading pushed the high to 5541.50 after Alphabet Inc (NASDAQ: GOOG, GOOGL)’s stellar Q1 earnings report was released. 

Friday sees a slower earnings pace, with AbbVie Inc (NYSE: ABBV) reporting near 7:30 AM ET. 

Broadcom Inc (NASDAQ: AVGO) snagged the biggest win among top components, surging $11.24, or 6.35%, to close at $188.15, lifted by fading tariff concerns and strong chip sector earnings.

That outran the cash index’s 2.10% gain by over three times. 

No top components posted losses, leaving Berkshire Hathaway Inc Class B (NYSE: BRK.B) as the smallest gainer, inching up $4.97, or 0.94%, to close at $531.64.