Wall Street S&P 500 broad barometer not only managed to break a four-week losing streak last Friday, but also climbed above 5,725 points for the in the pre-market trading on March 24. The backsliding of stock indicators into positive territory has been slow, but it may have been helped by comments from the U.S. Federal Reserve's chair Jerome Powell as he characterised any possible inflationary effects induced by Trump's trade tariffs policy as being "transitory". Besides, some leaks to the media, quoted by Bloomberg News and Wall Street Journal on the weekend, suggested that Trump’s widely expected April 2 "reciprocal" tariffs announcement could be more targeted than he has initially threatened to expand indiscriminately on both friends and foes. Now a less aggressive approach may reportedly exclude some nations or blocs, as well as specific sectors. In particular, those countries who did not impose extra tariffs on the U.S. recently may be exempted from the levies, under condition if the U.S. has a trade surplus with these countries.

However, further upward developments in the market may still be limited by the technical resistance range between 5,800 and 5,850, at least until the end of the month or by only a partial recovery of most heavily oversold and popular tech companies due to unfavourable corporate reports from a trio of heavyweight issuers.

Shares of FedEx (FDX) plummeted by 6.5% last Friday, after the parcel delivery giant substantially cut its annual guidance. Moreover, the stock price decline initially was double-digit and touched the lower values of June 2023. FedEx dropped its adjusted EPS (earnings per share) projections for 2025 to between $18.00 and $18.60, from $19 to $20 previously. The company cited "continued weakness and uncertainty in the U.S. industrial economy", so that its "higher-margin business-to-business volumes" have to navigate a "challenging operating environment". Both FedEx and its rival UPS are commonly watched as the pH strips for the chemistry of the global economy, as they are fundamentally involved into a great variety of industries.

Meanwhile, Micron Technology (MU) lost 8% of its market cap the same Friday evening, even though this AI-related provider of memory and storage solutions forecasted its current quarter revenue above Wall Street estimates. The company nominally pointed at still solid demand for its HBM (high-bandwidth memory) chips. Even its robust financial performance of $1.56 per share to beat consensus of $1.44 in the recent three months, on revenue of $8.05 billion against the anticipated $7.91 billion, didn't help Micron stock to rise after its gross margin projections suggested a decrease.

The same day, shares of the footwear giant Nike (NKE) slid to fresh 5-year lows as its inner sales decline expectations almost deleted hopes on its business results' turnaround. The company went that far to warn that its international sales may drop by a double digit percentage in the current quarter due to a cocktail of factors consisting of new tariffs and lower consumer confidence.

If the sharp decline in shares of FedEx and Nike is happening not the first or even not the second time in the recent couple of years, then shares of Micron, which is one of the technology partners in the NVIDIA chain, were flat for the eighth month in a row after a strong correction move last summer, and so the market could well have reacted in a more favourable mood to rather nice quarterly figures from Micron. Leading investment houses like Piper Sandler or Stifel do not fully agree with the bearish assessments of its report by the investing crowd. Almost all analysts are holding Overweight ratings for Micron. However, the overall market sentiment continues to indicate its alertness to any minor weakness in corporate news.

Wall Street S&P 500 broad barometer not only managed to break a four-week losing streak last Friday, but also climbed above 5,725 points for the in the pre-market trading on March 24. The backsliding of stock indicators into positive territory has been slow, but it may have been helped by comments from the U.S. Federal Reserve's chair Jerome Powell as he characterised any possible inflationary effects induced by Trump's trade tariffs policy as being "transitory". Besides, some leaks to the media, quoted by Bloomberg News and Wall Street Journal on the weekend, suggested that Trump’s widely expected April 2 "reciprocal" tariffs announcement could be more targeted than he has initially threatened to expand indiscriminately on both friends and foes. Now a less aggressive approach may reportedly exclude some nations or blocs, as well as specific sectors. In particular, those countries who did not impose extra tariffs on the U.S. recently may be exempted from the levies, under condition if the U.S. has a trade surplus with these countries.

However, further upward developments in the market may still be limited by the technical resistance range between 5,800 and 5,850, at least until the end of the month or by only a partial recovery of most heavily oversold and popular tech companies due to unfavourable corporate reports from a trio of heavyweight stocks.

Shares of FedEx (FDX) plummeted by 6.5% last Friday, after the parcel delivery giant substantially cut its annual guidance. Moreover, the stock price decline initially was double-digit and touched the lower values of June 2023. FedEx dropped its adjusted EPS (earnings per share) projections for 2025 to between $18.00 and $18.60, from $19 to $20 previously. The company cited "continued weakness and uncertainty in the U.S. industrial economy", so that its "higher-margin business-to-business volumes" have to navigate a "challenging operating environment". Both FedEx and its rival UPS are commonly watched as the pH strips for the chemistry of the global economy, as they are fundamentally involved into a great variety of industries.

Meanwhile, Micron Technology (MU) lost 8% of its market cap the same Friday evening, even though this AI-related provider of memory and storage solutions forecasted its current quarter revenue above Wall Street estimates. The company nominally pointed at still solid demand for its HBM (high-bandwidth memory) chips. Even its robust financial performance of $1.56 per share to beat consensus of $1.44 in the recent three months, on revenue of $8.05 billion against the anticipated $7.91 billion, didn't help Micron stock to rise after its gross margin projections suggested a decrease.

The same day, shares of the footwear giant Nike (NKE) slid to fresh 5-year lows as its inner sales decline expectations almost deleted hopes on its business results' turnaround. The company went that far to warn that its international sales may drop by a double digit percentage in the current quarter due to a cocktail of factors consisting of new tariffs and lower consumer confidence.

If the sharp decline in shares of FedEx and Nike is happening not the first or even not the second time in the recent couple of years, then shares of Micron, which is one of the technology partners in the NVIDIA chain, were flat for the eighth month in a row after a strong correction move last summer, and so the market could well have reacted in a more favourable mood to rather nice quarterly figures from Micron. Leading investment houses like Piper Sandler or Stifel do not fully agree with the bearish assessments of its report by the investing crowd. Almost all analysts are holding Overweight ratings for Micron. However, the overall market sentiment continues to indicate its alertness to any minor weakness in corporate news.