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The market wraps up a week for the history books as the U.S. narrows an initially broad net of tariffs, in what appears to be an attempt to largely shut down trade between China and the U.S. As a result, the top ports in the U.S. are expected to be very quiet in the coming months. The Global Port Tracker report from the National Retail Federation and Hackett Associates projects a 23% decrease in container freight traffic to U.S. ports in June, compared to January.
“In this environment of complete uncertainty, our forecast for import cargo will be subject to significant adjustments over the coming months,” Hackett Associates Founder Ben Hackett said in a news release. “At present, we expect to see imports begin to decline by May and that they will drop dramatically during the remainder of the year.”
News for how companies plan to navigate the trade war’s shifting pylons will be a central focus throughout the coming reporting season. Netflix (NFLX) and UnitedHealth Group (UNH) are queued up to report in the coming week, along with a handful of other blue chips and some of India’s largest banks.
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As Tariff Volatility Surges, Here’s How Experts Model And Track Sector Rotation
Stocks To Watch: A Few Watchlist-Worthy Names
The stock market is trying to find its footing, but remains extremely volatile and news driven. Investors should be making watchlists of stocks setting up healthy chart patterns and boasting strong relative strength. Spotify (SPOT), Life Time Group (LTH), Howmet Aerospace (HWM), Bowhead Specialty (BOW) and TJX (TJX) all fit the bill. Bowhead, an insurer, has pulled back to around a buy point and has found firm technical support. Spotify, Life Time, Howmet and TJX are all in double-bottom bases. TJX traded narrowly above its buy point on Friday, after a four-day rally lifted it back above support at its 50-day moving average. All but Howmet are not all that affected by tariffs.
Trade Policy: Keeping Tabs On The Tariff War
The global economy shuddered as the U.S. rolled out its full fusillade of trade war tariffs over the past week. After some back and forth, the U.S. ended the week with 10% tariffs levied on all imported goods and 25% tariffs on all steel, aluminum, autos, and certain auto parts. All goods coming into the U.S. from China now pay a 145% tariff. Canada and Mexico pay a 25% tariff on all imports not addressed under the U.S.-Mexico-Canada Agreement. Those two countries also face a 10% tariff on energy and potash. Tariffs against the U.S. include a 125% duty for imports into China. Canada is charging a 25% tariff on all U.S. imports that don’t fall under the USMCA.
Treasury Yields, Dollar Face Confidence Crisis Despite Trump Tariffs Reprieve; S&P 500 Bounces
Economic Calendar: Keeping A Close Eye On Jobless Claims
The fast-moving impact of Trump tariffs on the economy may show up first in initial jobless claims, making the weekly report on Thursday a key to watch. However, the Empire State manufacturing survey, out Tuesday, and Philly Fed survey on Thursday also may flash weakness. The latest data shows that the tariffs have dented confidence but not necessarily economic activity, at least through March. Retail sales, due Wednesday, are forecast to rise a strong 1.4% on the month, fueled by auto purchases before tariffs hit. Sales excluding autos and gas are seen rising a solid 0.5%. Also due this week, the NAHB Housing Market Index is out Wednesday morning.
CPI Inflation Dives As Trump Tariffs Sink Travel; S&P 500 Falls Sharply
Earnings Season: Netflix Mum On Subscribers
For the first time ever, Netflix will not reveal quarterly subscriber numbers in its Q1 results late Thursday, directing investors focus instead to revenue and operating margin. Analysts expect the streaming leader to book year-over-year earnings growth of 8%, a 12% gain for sales. That would mark its slowest earnings and sales growth in seven quarters.
As Subscriber Growth Soars, Netflix Stock Shows Strength As Investors Bet On Bullish Q1 Results
Health Care: Headwinds Turn To Tailwinds
UnitedHealth Group posts Q1 results early Thursday. The Dow Jones health care giant is seen posting EPS of $7.29, up 5.5% from a year ago, on revenue growth of 11.8% to $111.57 billion, according to FactSet. The medical cost ratio, or benefits as a share of premiums, is seen at 86%. UNH stock has had a dramatic turnaround, rallying about 28% since Feb. 21, after tumbling on a report of a Medicare billing probe. Over the past week, the Trump administration announced a 5.1% rate increase for Medicare Advantage in 2026, well above the rate proposed by the Biden administration. Health care also is in favor as a defensive play that’s insulated from tariffs.
Dow Jones: Travelers Retakes Support Ahead Of Earnings
The Dow industrials starts to dig into the earnings calendar in the week ahead. In addition to UnitedHealth, Goldman Sachs (GS), Johnson & Johnson (JNJ), Travelers (TRV) and American Express (AXP) are all due to report. Earnings growth is expected to slow for Goldman Sachs and AmEx. Views call for a single-digit decline from J&J, and for a steep, 83% earnings dive for Travelers. Chartwise, J&J and Travelers have so far held above their recent lows.
International: India Banks Show Chart Strength
Several top India-based stocks deliver results in the coming week. On the tech side, software engineer Infosys (INFY) and IT consultant Wipro (WIT) report. Also, two of the country’s three largest banks, HDFC Bank (HDB) and Icici Bank (IBN). Earnings targets are modestly positive for all but Infosys. HDFC and Icici are both tight against buy points in cup-with-handle bases. India’s benchmark Sensex index is down less than 4% so far this year. India’s consumer-led economy is broadly seen as a strength in the current economic scrum.
Stocks Market Earnings Briefs
United Airlines (UAL) reports Q1 results early Wednesday, with Alaska Air (ALK) due on Thursday. Analysts expect United earnings will improve to 74 cents per share, from a loss of 15 cents per share last year. Revenue is seen increasing 5.6% to $13.24 billion. FactSet predicts Alaska Air will report a loss of 77 cents per share, compared to a loss of 92 cents the year prior. Analysts forecast a 41% jump in revenue to $3.17 billion.
Albertsons (ACI) on Tuesday reports Q4 results. Views a for a 17% earnings decline and an uptick to 2% revenue growth. Impact of tariffs, and details on the company’s lawsuit against Kroger (KR), alleging shortfalls in its attempts to secure a $25 billion merger, will be a central focus. Shares are up 8% year to date and almost 18% since October.
Kinder Morgan (KMI) announces first-quarter earnings and revenue after the market closes on Wednesday. Analyst consensus pegs quarterly profit growing by 1 cent to 35 cents per share with sales increasing 6% to $4.08 billion. Kinder Morgan stock has declined 5% in 2025 with the broader IBD-tracked industry group falling more than 7% on the year. Analysts will be looking for views on oil demand, as oil prices lag with the tariff-lashed economy projected to slow.
Abbott Laboratories (ABT) is on deck to report its first-quarter earnings before the stock market opens on Wednesday. Analysts surveyed by FactSet expect the medical behemoth to report adjusted earnings of $1.07 per share on $10.4 billion in sales, up about 9% and 4%, respectively. ABT shares are up 13% so far this year.
Taiwan Semiconductor Manufacturing (TSM) will report first-quarter earnings early Thursday. Analysts expect the chip foundry to earn $2.06 per U.S. share, up 54% year over year, on sales of $25.52 billion, up 39%, helped by AI chip production.
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