Wall Street Thrives as Tech Stocks Propel Market Gains

Last week, Wall Street experienced an energetic resurgence, largely fueled by a tech rally. The major indices reported their second positive week out of three. The S&P 500 rose by 4.6%, the Dow Jones gained 2.5%, the Nasdaq surged 6.7%, and the Russell 2000 advanced 4.1% as of April 25, 2025.

Yet, April has presented a mixed picture overall. While the Nasdaq has turned slightly positive for the month, the S&P 500 is down 1.5%, and the Dow has fallen by 4.5% so far.

Tech Giants Drive Market Momentum

On April 25, major tech stocks acted as key drivers in the market lift. Alphabet (GOOGL) saw a 1.7% increase following better-than-expected first-quarter earnings. Tesla (TSLA) attracted attention with a remarkable 9.8% surge, while NVIDIA (NVDA) and Meta Platforms (META) also enjoyed increases of 4.3% and 2.7%, respectively.

Tesla shares skyrocketed after CEO Elon Musk indicated he would dedicate more time to the company. The potential relaxation of regulations surrounding self-driving cars by the Trump administration could benefit Tesla, which has positioned autonomous vehicles at the heart of its growth strategy. The company plans to launch fully autonomous rides in Austin, Texas, by June, with expansion to other cities planned throughout the year, expecting a financially significant operation by the second half of 2026.

Overall, Tesla surged 23.8% over the week. Other notable gains included Netflix (NFLX) with an 11.9% jump, Amazon (AMZN) up 11.6%, Apple (AAPL) gaining 8.4%, Microsoft (MSFT) rising 8%, along with Meta’s 11.5% increase and NVIDIA’s impressive 12.5% leap.

Semiconductor stocks also saw significant gains, recovering from recent downturns. Following Trump’s tariff announcement, these companies faced heavy losses. However, signals of easing trade tensions have recently revitalized the sector.

Market Outlook: An Uncertain Future

Amidst this volatility, concerns over U.S.-China trade relations remain. On April 24, China stated that no negotiations were currently underway, contradicting earlier signs from the U.S. that indicated a softer approach.

Despite lingering uncertainties regarding tariffs, Citi analysts are becoming increasingly optimistic about market trends. They anticipate that continued positive momentum in trade discussions and supportive monetary policy will help stabilize and gradually lift equities in the coming months. A potential trade de-escalation, paired with favorable monetary conditions, bodes well for technology stocks.

Highlighting Top Technology ETFs

Given the recent developments, several tech-based exchange-traded funds (ETFs) have shown strong performance over the past week:

Simplify Volt TSLA Revolution ETF (TESL) – Up 23.7%

SPDR S&P Semiconductor ETF (XSD) – Up 15.2%

iShares Semiconductor ETF (SOXX) – Up 13.2%

First Trust NASDAQ-100-Technology Sector Index Fund (QTEC) – Up 11.3%

iShares US Technology ETF (IYW) – Up 10.2%

First Trust Dow Jones Internet Index Fund (FDN) – Up 9.4%

Invesco S&P SmallCap Information Technology ETF (PSCT) – Up 9.2%