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US President Donald Trump suggested that Boeing default on China for not accepting its aircraft deliveries. This comes after China ordered its airlines to stop taking deliveries in response to US tariffs on Chinese goods.

Sales of previously occupied US homes fell 5.9% in March, the largest monthly drop since November 2022, due to elevated mortgage rates and rising prices. Home prices increased by 2.7% annually, reaching an all-time high for March, but at a slower rate. Despite an 8.1% increase in unsold homes, sales remain sluggish, signalling a potential decrease in economic mobility, reports Reuters.

All three major averages are on track for weekly gains. The Nasdaq is up 2.6%, the S&P 500 is up nearly 1.8%, and the Dow is on pace for a 1.2% advance.

Two stocks in the S&P 500 traded at new 52-week lows on Thursday. Comcast and Tractor Supply, respectively, traded at their lowest levels since November 2022 and February 2024. In contrast, Netflix was trading at its all-time high levels, reflecting its IPO in May 2022.

Sales of previously occupied US homes fell 5.9% in March, the largest monthly drop since November 2022, due to elevated mortgage rates and rising prices. Home prices increased by 2.7% annually, reaching an all-time high for March, but at a slower rate. Despite an 8.1% increase in unsold homes, sales remain sluggish, signalling a potential decrease in economic mobility, reports Reuters.

Intel’s earnings, expected after the close of trading, are helping to pace the gains of the tech-heavy Nasdaq Composite.

Bloomberg reports that investors are eyeing a possible confirmation of a 20% workforce cut.

Intel shares have gained over 5% this year, driven by the appointment of new CEO Lip-Bu Tan in March.

IMF chief Kristalina Georgieva acknowledged a ‘bit of confusion’ about the fund’s role and measures in response to U.S. Treasury Secretary Scott Bessent’s accusations of ‘mission creep’. Bessent criticised the IMF and World Bank for devoting excessive time and resources to climate change, gender, and social issues, asserting they are not the IMF’s primary mission. Georgieva clarified that the IMF lacks climate experts and provides policy advice on macroeconomic issues, specifically for vulnerable countries like Barbados.

The Dow Jones Industrial Average opening in the red before climbing up to 25 points. The S&P and Nasdaq indices are also trading in the green at 40 and 220 points, respectively.

The S&P 500 opened unchanged on Thursday. The Nasdaq Composite added 0.3%, while the Dow Jones Industrial Average lagged behind with a 0.4% slide.

On Wednesday, stocks rose on optimism that trade tensions between the US and China would ease. Earlier this week, US President Donald Trump indicated he’s open to a less confrontational approach to trade talks with Beijing. Additionally, Treasury Secretary Scott Bessent expressed on Wednesday that the US has the potential for a significant trade deal. Chinese imports currently face a US tariff of 145%.

Wall Street opened mixed, with the Dow down 200 points and the S&P and Nasdaq up 6 and 65 points, respectively.

Norges Bank Investment Management, the world’s largest sovereign wealth fund, reported a $40 billion loss in the first quarter due to weakness in the tech sector. The fund’s value decreased by 1.2 trillion kroner, primarily due to adverse currency movements and a 1.6% loss in equities. Despite this, fixed income and unlisted real estate investments yielded positive returns.

US initial jobless claims rose by 6,000 to 222,000 in the week ended April 19, reflecting a stable labour market. Continuing claims fell to 1.84 million, the lowest level since January. The four-week moving average of new applications also fell slightly to 220,250.

Chipotle shares fell after weak revenue and a same-store sales drop. Texas Instruments and ServiceNow surged and climbed, respectively, after strong earnings reports.

American Airlines withdrew its 2025 financial guidance due to economic uncertainty, following similar moves by Delta and Southwest. The company reported adjusted earnings of 59 cents per share on revenue of $12.55 billion.

Southwest Airlines has pulled its guidance, stating it will reduce flights this year. The airline’s shares dropped more than 3% following this announcement. Southwest Airlines has also withdrawn its 2025 and 2026 EBT guidance.

Treasury yields declined on Thursday as investors grappled with the latest developments on the global trade front and President Donald Trump’s backtracking on plans to fire the Federal Reserve chief.

The 10-year Treasury yield fell over 4 basis points to 4.344%, while the 2-year Treasury yield dropped 3 basis points to 3.826%.

The Trump administration has 18 trade proposals from various countries, according to White House Press Secretary Karoline Leavitt. She also stated that the administration is setting the stage for a potential trade deal with China. Treasury Secretary Scott Bessent expressed optimism about a deal with China, believing both countries want to see it happen.

Trump met with retailers to discuss tariff concerns. Some commenters believe the tariffs will lead to higher prices and inflation, while others believe Trump is strategically negotiating with other countries to replace China as a manufacturing partner. Critics argue that Trump’s approach is reckless and lacks a comprehensive plan.

Charles Payne believes Trump’s trade war will require patience. Los Angeles-based film and TV production has plummeted.

Capital One CEO Richard Fairbank says American consumers are generally in strong financial shape, citing stable debt levels and improved repayment rates. However, he warned of early signs of strain from inflation and interest rates, particularly among lower-spending segments.

American Airlines Group Inc. withdrew its full-year earnings outlook, joining a growing number of companies that say unease about the economy is making it difficult to forecast how the year will play out.

The carrier said in a filing Thursday along with its first-quarter financial results that it plans to “provide a full-year update as the economic outlook becomes clearer.” In January, the company had projected adjusted earnings per share of $1.70 to $2.70 for the full year on a revenue gain of 4.5% to 7.5%.

American’s action echoes those of Delta Air Lines Inc. and the parent of Frontier Airlines, which also pulled 2025 guidance as President Donald Trump’s trade war saps demand for travel. Waning confidence among consumers and businesses have “flat-lined” revenue growth, Delta said earlier this month.

Procter & Gamble Co. cut its annual sales and profit outlook, citing tariffs and volatility in consumer demand.

The maker of Tide detergent expects organic sales growth this year of approximately 2% versus the prior year, the company said Thursday in a statement. That’s lower than what the company forecast in January when it said it was expecting that figure to increase between 3% and 5%.

Sales in the most recent quarter were $19.8 billion. The overall volume of organic sales was flat during the three months that ended on March 31. Beauty and grooming products increased slightly, while the volume of baby and feminine care products fell. Prices rose by 1%, driven by beauty and grooming.

Merck & Co. said it expects to lose $200 million to already-announced tariffs in 2025 amid a roiling trade war between the US and China.

The estimate doesn’t account for the possibility that President Donald Trump will fulfill his long-held promise of imposing levies on pharmaceutical imports to the US, which would be on top of existing tariffs. That means Merck, which has a substantial manufacturing presence in Europe, could face additional costs from future levies.

For the first quarter, Merck’s results beat estimates. First quarter sales were $15.5 billion, above the $15.3 billion analysts had predicted. Adjusted earnings of $2.22 per share outpaced expectations of $2.13 a share.

Comcast surpassed first-quarter expectations on Thursday even as the company lost broadband customers amid heightened competition.

While domestic broadband revenue was up 1.7% to $6.56 billion, Comcast lost 199,000 total domestic broadband customers, reflecting the continued pressure on the cable giant’s cornerstone business.

Meanwhile Comcast’s less-than-10-years-old mobile business remained a bright spot during the quarter. Revenue for the unit was up roughly 16% to $1.12 billion, and it added 323,000 lines. There are now roughly 8.15 million total Xfinity Mobile lines.

Comcast reported 427,000 cable TV customer losses during the quarter as the traditional bundle continues to bleed customers. Comcast provides its broadband, mobile and pay-TV services under the Xfinity brand.

Gold rebounded following its steepest one-day loss this year as traders parsed mixed signals from the US on plans for China tariffs.

Bullion rose above $3,330 an ounce, after seeing the biggest one-day drop since November in yesterday’s session. Among the latest signals from Washington, Treasury Secretary Scott Bessent cast doubt on a timely resolution to the US-China trade war. That followed more conciliatory remarks from President Donald Trump.

“The temporary reprieve from Trump has fizzled out,” said Priyanka Sachdeva, a Singapore-based analyst at Philip Nova Pte. “Investors who missed the dip-buying wagon earlier in April drove the rise today.”

PepsiCo on Thursday reported mixed quarterly results as its international sales offset weaker demand in North America.

The food and beverage giant also cut its forecast for core constant currency earnings per share, citing new tariffs, economic volatility and a more cautious consumer.

“As we look ahead, we expect more volatility and uncertainty, particularly related to global trade developments, which we expect will increase our supply chain costs,” CEO Ramon Laguarta said in a statement. “At the same time, consumer conditions in many markets remain subdued and similarly have an uncertain outlook.”

Unilever Plc and Nestle SA posted better-than-expected sales in the first quarter after pushing up prices to counter surging commodity costs.

Both companies, which lost market share due to inflation during the pandemic, said customers will have to take some of the pain as a global trade war and surging commodity prices lift their costs again.

Nestle and rivals have been hit by soaring coffee, cocoa and other commodity costs over the past year that have forced them to push up prices or face narrowing margins. In some markets price increases are in double digits. Passing on higher costs to shoppers can send them fleeing to cheaper off-brand alternatives, as both companies discovered when price increases went too far after the pandemic.

Revolut Ltd. served more customers than HSBC Holdings Plc last year, helping the British fintech to boost revenue 72% to £3.1 billion ($4 billion) and grow earnings.

The company’s customer base grew by 38% globally last year to reach 52.5 million by the end of 2024, Revolut said Thursday. This meant it overtook HSBC, which had 41 million customers last year according to the bank’s annual report.

London-based Revolut said interest income grew to £790 million last year from £500 million in 2023, as more customers used the platform for savings and deposits. The company also offers foreign exchange, crypto and other trading services.

European officials say they’re optimistic a trade deal can be reached with U.S. President Donald Trump, warning of significant economic harm to both Europe and the U.S. if an agreement isn’t agreed and full-scale tariffs are introduced.

“I do believe an agreement can be reached, but at the same time, I do know we have lots of work that we have to do in order to get to that point,” Pascal Donohoe, president of the Eurogroup and finance minister of Ireland, told CNBC on Wednesday.

“If we use the time ahead wisely, we can at least create a framework in which we can avoid measures being taken on both sides of the Atlantic that could harm ourselves, harm Europe and harm America,” he said on the sidelines of the International Monetary Fund and World Bank spring meetings in Washington.

Norges Bank Investment Management — the largest sovereign wealth fund in the world — on Thursday reported a first-quarter loss of 415 billion kroner ($40 billion), citing weakness in the tech sector.

“The quarter has been impacted by significant market fluctuations. Our equity investments had a negative return, largely driven by the tech sector,” CEO Nicolai Tangen said in a statement.

China on Thursday said that there were no discussions with the U.S. on tariffs, despite indications from the White House this week that there would be some easing in the tensions.

“At present there are absolutely no negotiations on the economy and trade between China and the U.S.,” Ministry of Commerce Spokesperson He Yadong told reporters in Mandarin, translated by CNBC. He added that “all sayings” regarding progress on bilateral talks should be dismissed.

“If the US really wants to resolve the problem … it should cancel all the unilateral measures on China,” He said.