NEW YORK—Wall Street’s got a spring in its step, but it’s a cautious one. On April 28, 2025, the S&P 500 inched up 0.06%, closing at a level that had traders breathing a little easier. The Dow Jones Industrial Average nudged higher too, gaining 0.28%. Nasdaq, though, wasn’t feeling the love, dipping 0.1%. Investors are riding a wave of hope tied to trade talks, but they’re not popping champagne just yet.
The buzz comes from Washington, where Treasury Secretary Scott Bessent has been dropping hints about progress on trade deals. On April 16, the administration announced a 90-day pause on tariffs for most nations, except China, which sent markets into a frenzy—the S&P 500 soared 9.5% on April 9, one of its biggest single-day jumps since World War II. Now, Bessent’s signaling that deals with 18 countries are taking shape, with India potentially near the front of the line. He’s also talking about de-escalating the tariff spat with China, though details are thin. Investors are eating it up, but they want more than promises—they want ink on paper.
The market’s mood swings haven’t been subtle. Back on April 23, the Dow surged 2.66%, and the Nasdaq climbed 2.71%, fueled by news of those tariff pauses and Bessent’s comments that CEOs see no recession on the horizon. But not every day’s a party. The Nasdaq’s slip on April 28 shows tech stocks are still jittery, with some traders worrying about how tariff tweaks might hit supply chains. Still, the S&P 500’s fifth straight day of gains is nothing to sneeze at.
Behind the scenes, the Treasury Department’s been churning out updates. A report from April 10 confirmed the U.S. is negotiating trade frameworks that could lower barriers with key partners. The goal? Keep goods flowing without the threat of new duties. That’s music to the ears of manufacturers and retailers, who’ve been sweating the cost of a full-blown tariff war. Meanwhile, the Commerce Department noted on April 25 that export growth in Q1 2025 hit 3.2%, a sign that trade optimism might be more than hot air.
Investors aren’t blind, though. They know China’s the wild card. A flat 10% reciprocal tariff rate for most nations sounds manageable, but any hiccup in Beijing talks could rattle cages. For now, the market’s betting on diplomacy over chaos. Trading floors are humming, with brokers scribbling notes and refreshing feeds for the next headline.
The S&P 500 closed at 5,815.03 on April 28. The Dow hit 42,387.57. Nasdaq settled at 18,567.19. Volume on U.S. exchanges was 10.2 billion shares, slightly below the 20-day average.