From Nasdaq: 2024-04-26 11:25:35

1. US stock indexes are up this morning, with the S&P 500 (+0.55%), Dow Jones (+0.31%), and Nasdaq 100 (+1.05%) all showing gains. Alphabet and Microsoft’s strong earnings results are driving the market higher.

2. Despite US economic news showing higher personal spending and core PCE deflator, stocks are holding onto gains. Intel is down over -12% due to a weak Q2 revenue forecast, while Dexcom is down over -5% for projecting below-consensus full-year revenue.

3. US Mar personal spending rose +0.8% m/m and income +0.5% m/m, as the PCE core deflator increased +2.8% y/y. The market’s probability for a -0.25% rate cut sits at 3% for the upcoming FOMC meeting on April 30-May 1.

4. Euro Stoxx 50 is up +0.83%, China’s Shanghai Composite and Japan’s Nikkei Stock Index also posted gains. US 10-year T-notes yield is down to 4.669% amidst inflation concerns, while European government bond yields are lower.

5. Alphabet and Microsoft are leading rally in stock movers, with Alphabet up more than +10% and Microsoft up more than +2%. ResMed, Skechers USA, and Autoliv are also posting strong gains. Snap Inc and Mohawk Industries are on the rise as well.

6. Intel is down over -12% after a weak Q2 revenue forecast, with Atlassian and Aon Plc also in the red. Boyd Gaming, Dexcom, Phillips 66, and Charter Communications also reported losses following earnings announcements on 4/26/2024.



Read more at Nasdaq: Stocks Rally on Blockbuster Earnings from Alphabet and Microsoft