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The S&P 500 advanced 2.5% on Tuesday, April 22, as investors monitored the latest trade negotiations and corporate earnings news.
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Equifax shares pushed higher as the credit rating firm topped quarterly estimates, highlighting its resilience despite headwinds in the mortgage and hiring markets.
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A loss in the B-21 bomber program weighed on the performance of aerospace and defense firm Northrop Grumman, and its shares dropped.
Major U.S. stock indexes gained ground Tuesday as investors monitored the latest trade negotiations and corporate earnings news.
Stocks rose following reports of progress on trade talks with India and Japan. However, no deals have been finalized so far, and the window for negotiations is shortening, with 78 days remaining until the expiration of President Trump’s 90-day suspension of “reciprocal” tariffs.
The S&P 500 ended Tuesday’s session with a gain of 2.5%. Both the Dow and the tech-heavy Nasdaq notched daily gains of roughly 2.7%.
Equifax (EFX) shares logged the day’s top performance in the S&P 500, surging 13.8% after the consumer credit rating agency reported better-than-expected sales and adjusted profits for the first quarter. The information provider noted that the strong performance came despite headwinds in its U.S. mortgage and hiring businesses. Equifax also increased its quarterly dividend and announced a $3 billion share repurchase program.
Shares of First Solar (FSLR) jumped 10.5% after the U.S. government announced significant antidumping duties on equipment from four Southeast Asian countries that have historically accounted for the majority of solar panel and cell imports. The move could create upward pressure on solar panel pricing in the U.S. without affecting First Solar’s capacity.
Pentair (PNR), a provider of water treatment solutions, also topped analysts’ expectations with its first-quarter sales and profits, and its shares gained 9.2%. Although revenue slipped year over year, Pentair achieved earnings growth and margin expansion, and the CEO highlighted the company’s adaptability and resilience in mitigating tariff impacts.
Northrop Grumman (NOC) shares plunged 12.7%, falling the furthest of any S&P 500 stock, after the aerospace and defense technology firm missed quarterly sales and profit estimates. The results included a $477 million loss on Northrop’s B-21 bomber program, reflecting higher materials and production costs. The lackluster results weighed on other stocks in the defense sector, with shares of aviation peer RTX (RTX) dropping 9.8%.
