From Nasdaq: 2024-04-29 11:32:38

The S&P 500, Dow Jones, and Nasdaq are all up this morning, with Tesla rising 11% after positive news from China and Domino’s Pizza reporting strong Q1 earnings. Earnings optimism and positive corporate news are driving the market higher, while megacap tech stocks are slowing gains. Focus on upcoming FOMC meeting for rate cut expectations.
T-notes prices are higher this morning, buoyed by strength in European government bonds and short covering ahead of the FOMC meeting. Overseas markets are mixed, with the Euro Stoxx 50 down and Chinese markets rising. Economic data shows a decline in Eurozone economic confidence and stronger-than-expected German CPI.
Stock movers today include Tesla, Albemarle, Paramount Global, Apple, Domino’s Pizza, Heartland Financial USA, Shopify, and AT&T. Megacap tech stocks are weaker, with Nvidia, Alphabet, Meta Platforms, Netflix, Microsoft, and Franklin Resources all down. Intel continues to slide after forecasting weak Q2 revenue, while Southwest Airlines and Lululemon Athletica are also down.
Earnings reports for today include Arch Capital Group Ltd, Domino’s Pizza Inc, Everest Group Ltd, F5 Inc, Franklin Resources Inc, NXP Semiconductors NV, ON Semiconductor Corp, Paramount Global, Revvity Inc, SBA Communications Corp, and Welltower Inc. Market will continue to look at upcoming earnings for market direction.



Read more at Nasdaq: Stocks Climb on Q1 Earnings Optimism