U.S. stocks slipped over the shortened trading week as Q1 corporate reports started to roll in.

The Standard & Poor’s 500 Index dropped 1.50 percent, while the Nasdaq Composite Index fell 2.62 percent. The Dow Jones Industrial Average lost 2.66 percent. The MSCI EAFE Index, which tracks developed overseas stock markets, added 4.19 percent.

U.S. Stocks Slide

Stocks started the four-day week with modest gains. Trade volatility subsided as several money center banks reported Q1 numbers at or above expectations.

Stocks trended lower midweek after Federal Reserve Chair Jerome Powell expressed concern that tariffs would likely “move us further away from our goals”—including keeping inflation in check.

Stocks were mixed on the week’s last trading day as traders evaluated White House news that trade deals were progressing with Japan, China, and the European Union. The S&P 500 ended the day higher, but the Dow Industrials were under pressure after a large healthcare company gave a disappointing Q1 report.

The Fed’s Influence

Stocks were under pressure following comments from Fed Chair Powell, who expressed concern about the ability of the Fed to balance its inflation and employment goals given the current trade situation. He said, “Tariffs are highly likely to generate at least a temporary rise in inflation,” and “the inflationary effects could be more persistent.”

These are Powell’s latest remarks about tariffs. The Fed Chair made similar comments earlier this month at an event in Alexandria, Virginia.

Monday: Leading Economic Indicators.

Tuesday:  Philadelphia Fed President Harker speaks.

Wednesday: Chicago Fed President Austan Goolsbee, St. Louis Fed President Alberto Musalem, Atlanta Fed President Bostic, and Fed Governor Christopher Waller speak. PMI Services. PMI Manufacturing. New Home Sales. Fed Beige Book.

Thursday: Durable Goods. Weekly Jobless Claims.

Friday: Consumer Sentiment (final).

Source: Econoday

Tuesday:  Tesla, Inc. (TSLA), GE Aerospace (GE), Verizon Communications Inc. (VZ), Intuitive Surgical, Inc. (ISRG), RTX Corporation (RTX), Danaher Corporation (DHR), Lockheed Martin Corporation (LMT), Elevance Health, Inc. (ELV)

Wednesday: Phillip Morris International Inc. (PM), International Business Machines Corporation (IBM), AT&T Inc. (T), ServiceNow, Inc. (NOW), Thermo Fisher Scientific Inc. (TMO), Boston Scientific Corporation (BSX), NextEra Energy, Inc. (NEE), Texas Instruments Incorporated (TXN), The Boeing Company (BA), CME Group Inc. (CME)

Thursday: Alphabet Inc. (GOOG/GOOGL), The Proctor & Gamble Company (PG), T-Mobile US, Inc. (TMUS), Merck & Co., Inc. (MRK), PepsiCo, Inc. (PEP), Union Pacific Corporation (UNP), Gilead Sciences, Inc. (GLD), Comcast Corporation (CMCSA), Fiserv, Inc. (FI), Bristol Myers Squibb Company (BMY)

Friday: AbbVie Inc. (ABBV)

Source:Zacks.com

Sources: YCharts.com, April 19, 2025

Weekly performance is measured from the close of trading Monday April 11, to Thursday, April 17 close.

Games To Exercise Your Brain

Brain training is a great way to keep your mind sharp, and these fun games are designed for people of all ages. Improve your mental fitness with games like:

• Sudoku – This strategy game requires you to find the correct order of numbers 1-9 in a 3×3 grid. There can only be one of each number in each row and column.
• Crossword Puzzles – Find the correct word for each clue. The words intersect and share letters, so you have to make sure you have the right word otherwise the puzzle won’t fit!
• Peak – A brain training app for your phone or tablet. It offers several different games designed to improve cognitive function and problem-solving.

Tip adapted from Very Well Mind

Blushing New England Fish Chowder

Serves: 4

Ingredients:

• 1 teaspoon butter
• 1 tablespoon olive oil
• 2 ounces Spanish chorizo, skin removed and chopped
• 1 medium sweet onion, chopped
• 1 teaspoon smoked paprika
• 1 bay leaf
• 2 sprigs fresh thyme
• 1 large Russet potato, scrubbed and cut into 1/2-inch dice
• 3 to 3 1/2 cups seafood stock
• 1 teaspoon salt
• 1/2 teaspoon freshly ground black pepper
• 1/2 cup roasted red peppers, chopped
• 1 pound white flaky fish fillets (Wild Alaska Pollock)
• 1/2 to 1 cups cream (or half-and-half, if you must)
• 2 tablespoons chopped chives (for garnish)

Directions:

1. Heat butter and oil in a large saucepan. Add chorizo and cook until it’s crisped up a bit. Use a slotted spoon to remove chorizo from the pan to drain on a paper towel.
2. Add onion to pot and sauté in fat, until onion is softened. Add paprika, bay leaf, and potatoes. Use a piece of kitchen twine to tie the thyme sprigs together. Place the bundle of thyme in the pot and tie the loose end of the string to the handle of the pot. Add stock, making sure there is enough to cover the potatoes by an inch. Bring chowder to a boil, then reduce the heat so it simmers until potatoes are soft enough to crush against the side of pot, about 10 to 15 minutes. Add salt and pepper to taste. Stir in chopped red pepper.
3. Gently slip whole fillets of fish into chowder. Cook on low heat until fish easily breaks apart in bite-sized pieces. For thinner fillets like Pollock this will take 4-5 minutes. If the fish isn’t completely submerged, flip the fillets midway through. When fish is cooked through, remove bay leaf and add cream, adjusting amount to your liking.
4. Ladle hot chowder into bowls, garnish with crispy chorizo and chopped chives.

Recipe adapted from Food 52

How to Improve Turf Interaction

To improve turf interaction, you first need to understand how it happens. The reason that pros and elite ball strikers make better contact with any club off the turf is forward shaft lean at impact.

This means that the shaft is ahead of the clubhead at impact so you’re compressing the shot. This creates a divot pattern ahead of the ball, not behind it, for a pure shot.

According to Golf Digest, “Three main factors determine the quality of the strike: ball position at address, location of the weight on the downswing, and the flatness of the lead wrist at impact. The common contact faults – fat and thin shots – can be traced to errors in one or more of these areas.”

Tip adapted from theleftrough.com

The Small Business Health Care Tax Credit

The IRS introduced the small business healthcare tax credit in an effort to extend healthcare benefits. This credit may benefit employers with fewer than 25 full-time equivalent employees, offer a qualified health plan through a Small Business Health Options Marketplace, and pay at least 50% of the employee-only health care coverage cost. There may also be some average wage requirements.

The maximum credit covers:

• 50% of premiums paid for small business employers
• 35% of premiums paid for small tax-exempt employers

The credit may also be available for two consecutive taxable years.

This information is not a substitute for individualized tax advice. Please discuss your specific tax issues with a qualified tax professional.

Tip adapted from IRS

Photo of the Week

Hassan II Mosque

Casablanca, Morocco 

Financial planning and investment advisory services offered through Cleveland Wealth, LLC, a Registered Investment Advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified wealth advisor and/or tax professional before implementing any strategy discussed herein. Past performance is not indicative of future performance.