Heard on the Street Recap: Northern Exposure -- WSJ

Dow Jones2025-04-29

By Heard Editors

What Happened in Markets Today:

Markets wobbled on Monday. Stocks were negative for much of the session but ended the day mixed. The S&P 500 closed up 0.1%, the Nasdaq declined 0.1% and the Dow gained 114 points, or 0.3%.

Nvidia fell on Chinese competition. The Wall Street Journal reported that China's Huawei Technologies is gearing up to test a new chip that it hopes will be more powerful than Nvidia's H100, a popular chip used for AI training. Nvidia shares declined 2.1%.

Treasury Secretary Scott Bessent put the onus on China to ease trade tensions. "I believe it's up to China to de-escalate, because they sell five times more to us than we sell to them," Bessent said Monday on CNBC. He added that trade talks are going well with other Asian trading partners, especially India.

Deliveroo soared on a possible buyout. The London-listed food-delivery company rose 16.5% after saying it received a $3.6 billion takeover approach from DoorDash. DoorDash has until May 23 to make a formal offer or walk away under U.K. Takeover Panel rules.

Canadians headed to the polls amid a clash with the U.S. Canada held national elections Monday that will determine the next prime minister, and tensions with the U.S. were at center-stage. Polls suggest a slight lead for Liberal Mark Carney over Conservative Pierre Poilievre.

This analysis comes from the Journal's Heard on the Street team. Subscribe to their free daily afternoon newsletter here.

This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).

(END) Dow Jones Newswires

April 28, 2025 17:15 ET (21:15 GMT)

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Heard on the Street Recap: Northern Exposure -- WSJ

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