04/30/2026
April 29
The three major U.S. stock indices traded in a mixed and volatile session. The Dow Jones Industrial Average closed down 0.57% at 48,861.81; the S&P 500 edged down 0.04% to 7,135.95; and the Nasdaq Composite edged up 0.04% to 24,673.24. The overall market traded in a volatile manner, influenced by policy disagreements within the Federal Reserve, significant fluctuations in oil prices, and earnings season.
The Federal Reserve kept interest rates unchanged, but policy disagreements intensified, dampening expectations for rate cuts and weighing on blue-chip stocks. Sector performance was clearly mixed: most large-cap tech stocks saw minor pullbacks, while Intel surged over 12% on the back of strong earnings and its AI business. Geopolitical tensions drove oil prices sharply higher, propelling the energy sector to strong gains, while Chinese ADRs saw a slight overall pullback.
In the short term, U.S. stocks are expected to continue their volatile and divergent trend, with high oil prices, inflation concerns, and policy uncertainty continuing to limit the market’s upside potential. In terms of trading strategy, we recommend strictly controlling positions and adopting a defensive stance, focusing on high-quality stocks with strong earnings certainty, such as AI chips and computing power, while avoiding overvalued stocks trading at high levels. Continue to monitor non-farm payroll data, earnings reports from major companies, and geopolitical developments, and wait for the market direction to become clearer before positioning accordingly
