Markets Mixed to Start a New Week; PVH +11% on Q4 Earnings

Monday, March 31, 2025On the last trading day of calendar Q1, major indexes were mixed. The Dow, which first tested a 6-month bottom, finished up exactly +1.00%, or +417 points — resulting in a more than 900-point swing. Big Tech closed its worst quarter in 3 years, with the Nasdaq dipping another -23 points, -0.14%. The S&P 500 was +0.55% and the small-cap Russell 2000 finished -0.50%.Year to date, the blue-chip Dow has done the best job so far bouncing back from near-term lows, with companies like Chevron CVX noticing +15% gains since the start of the year. The “Mag-7” trade continues to unravel, and we’re even seeing NVIDIA NVDA-adjacent stocks like CoreWeave CRWV dropping -7% in only its second day as a publicly traded company.PVH Outperforms in Q4One of the late (early?) reporting companies for the quarter is the parent of Calvin Klein and Tommy Hilfiger, PVH PVH, formerly known as Phillips-Van Heusen. Earnings for the specialty apparel retailer came in 8 cents ahead of estimates to $3.27 per share, with revenues of $2.37 billion also improving above the $2.34 billion in the Zacks consensus.Check out the updated Zacks Earnings Calendar here.Next-quarter earnings guidance came in slightly below current estimates, but revenues are expected to perform a bit better. The company also announced a $500 million share repurchase program, which will likely be discussed in more detail during tomorrow morning’s earnings call. Shares are up +11% on the news in late trading.What to Expect from the Stock Market TuesdayTomorrow, we’ll get our first installment for a new Jobs Week: the Job Openings and Labor Turnover Survey (JOLTS) report for February. Expectations for 7.7 million openings would basically be in line with the previous month, which was off the recently highs north of 8 million last seen in November, and above the 12-month low of 7.1 million in September of 2024.Construction Spending, also for February, comes out tomorrow after the opening bell, too. We are expected to see a sewing back to the positive, +0.3%, from a -0.2% posted for the prior month. Construction spending has been positive more than not over the past three years, although we have seen volatility increase since last fall. ISM Manufacturing for March will also hit the tape later tomorrow morning, and is expected to slip below the 50 threshold (which depicts growth versus deceleration) for the first time since December. Estimates for 49.5% would be 80 basis points (bps) below the 50.3% reported for February, which was the highest level since October of 2022.Questions or comments about this article and/or author? Click here>>Zacks Names #1 Semiconductor StockIt's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.See This Stock Now for Free >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Chevron Corporation (CVX): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report PVH Corp. (PVH): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks