The Dow Jones rose 300 points, achieving six consecutive days of gains, as the White House announced a trade agreement. In Trump's first 100 days, the stock market performance was the worst in half a century.

On April 29, 2025, the three major U.S. stock indices rose, with the Dow Jones climbing 300.03 points to 40,527.62, achieving a six-day winning streak. The S&P 500 Index and Nasdaq indices also rose for the sixth consecutive day. The White House announced a trade agreement with an undisclosed country and signed an executive order to lower automobile tariffs, boosting the stock market. Nevertheless, the stock market performance in the first 100 days of Trump's second term was the worst in fifty years, with significant declines in technology and small-cap indices, indicating internal market divisions.

Dow Jones Rises 300 Points, All Three Major Indices Rise

On Tuesday (April 29), major U.S. stock indices closed with gains across the board. The Dow Jones Industrial Average rose 300.03 points, or 0.75%, to close at 40,527.62 points; the S&P 500 Index increased by 32.08 points or 0.58%, closing at 5,560.83 points; the Nasdaq Index rose 95.19 points or 0.55%, ending at 17,461.32 points. This marks the sixth consecutive trading day of gains for both the Dow and the S&P 500, setting the longest streak since July and November 2023, respectively.

According to a report by Investopedia, over the past six trading days, the Dow has accumulated a gain of about 6%, while the S&P 500 has risen approximately 8%. Market sentiment has been driven by the corporate earnings season, with investors closely watching the White House's trade policy moves.

White House Announces First Trade Agreement and Auto Tariff Adjustments

Another key factor in the market's rise was the White House's announcement of an upcoming major trade agreement. U.S. Commerce Secretary Howard Lutnick told CNBC, "I have completed the agreement, but I still need approval from the other party's prime minister and their parliament, which I expect to happen soon." He did not disclose the specific country involved.

Additionally, President Trump signed an executive order to prevent additional tariffs on top of existing auto import tariffs. This move is seen as a supportive measure for automakers. U.S. Treasury Secretary Scott Bessent added that this tax agreement will allow loans for U.S.-manufactured cars to enjoy tax breaks.

According to Yahoo Finance, this tariff adjustment means that manufacturers paying Trump's auto tariffs will no longer be subject to additional aluminum and steel tariffs, easing the tax burden on businesses.

Trump's Second Term First 100 Days Stock Market Performance Worst in Half a Century

Despite the recent stock market rebound, the overall performance of President Trump's second term in the first 100 days has been disappointing. According to data from World Journal and Dow Jones, from Trump's inauguration on January 20 to April 29, the Dow Jones Industrial Average has fallen by 7.1%, and the S&P 500 Index has dropped by 7.6%, marking the worst 100-day performance since Nixon's second term in 1973.

Technology and small-cap stocks have performed even worse. The tech-heavy Nasdaq Index fell by over 11% during the same period, marking the worst 100-day start since President George W. Bush's first term. The small-cap Russell 2000 Index has dropped by over 14%, marking the worst 100-day performance in history.

Significant Declines in Tech and Small-Cap Indices

Despite the overall market rise, tech and small-cap stocks failed to rebound in tandem. The Philadelphia Semiconductor Index (SOX) fell 38.87 points, or 0.92%, closing at 4,196.75 points. According to Financial News Express, Nvidia's stock price dropped by 2.05%, the largest decline among Dow components, mainly due to reports that Huawei is reportedly testing a new AI chip, Ascend 910D, which could challenge Nvidia's H100 market position.

Additionally, streaming music platform Spotify's stock plummeted by 3.48% due to disappointing earnings forecasts. Amazon's stock fell by 0.17% amid tariff labeling disputes criticized by the White House. Intel's stock also dropped by 0.83%, closing at $20.34.

In the small-cap sector, the Russell 2000 Index has fallen by over 14% since the beginning of the year, reflecting market concerns about domestic economic prospects and policy uncertainties.

Earnings Season Reaches Peak

This week marks the peak of the U.S. earnings season, with about one-third of S&P 500 component companies set to report results. Meta and Microsoft are set to release their earnings on April 30, while Apple and Amazon will announce theirs on May 1. Investors are closely watching the performance of these tech giants to assess whether corporate profits can support the recent stock market rebound.

According to NOWnews, despite market anticipation regarding trade policy, investors still face the reality of weak economic data. The April consumer confidence index fell to 86, the lowest in nearly five years; the March goods trade deficit widened to $162 billion, far exceeding expectations.

The Dow Jones rose 300 points, achieving six consecutive days of gains, as the White House announced a trade agreement. In Trump's first 100 days, the stock market performance was the worst in half a century.

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