Stock Market Today, April 21: Markets in Wait-and-See Mode as Hopes for New U.S.-Iran Peace Talks Fade
The S&P 500 (SNPINDEX:^GSPC) fell 0.63% to 7,064.01, the Nasdaq Composite (NASDAQINDEX:^IXIC) slipped 0.59% to 24,259.96, and the Dow Jones Industrial Average (DJINDICES:^DJI) declined 0.59% to 49,149.38 as uncertainty about the U.S.-Iran conflict weighed on markets.
Market movers
UnitedHealth Group (NYSE:UNH) outperformed on strong earnings. GE Aerospace (NYSE:GE) and defense supplier RTX (NYSE:RTX) both slipped despite beating analyst Q1 estimates.
Tim Cook’s planned exit as Apple (NASDAQ:AAPL) CEO weighed on the stock while Tesla (NASDAQ:TSLA) slipped in the run-up to tomorrow’s earnings release.
What this means for investors
Geopolitical jitters drove markets downward today as traffic through the Strait of Hormuz remained restricted and oil prices pushed upwards again. News that President Trump would extend the ceasefire broke after trading, which could potentially boost stocks tomorrow in ongoing headline-driven trading.
The wait-and-see mode after last week’s record highs shows how quickly sentiment can change. As uncertainty continues to dominate sentiment, these dividend stocks can offer a way to generate passive income and balance portfolios.
Kevin Warsh, the nominee to replace Federal Reserve Chair Jerome Powell in May, addressed the Senate Committee on Banking, Housing, and Urban Development today. He faced questions about various issues, including Fed independence and AI. For investors, that transition is worth watching, not only because it could impact interest rates, but also because any issues with the nomination could contribute to further volatility.
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Emma Newbery has positions in Apple. The Motley Fool has positions in and recommends Apple, GE Aerospace, RTX, and Tesla. The Motley Fool recommends UnitedHealth Group. The Motley Fool has a disclosure policy.
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