From Nasdaq: 2024-04-26 18:18:52

US stock indexes posted strong gains on Friday, with the S&P 500 reaching a 1-1/2 week high and the Nasdaq 100 hitting a 1-week high due to blockbuster earnings from Alphabet and Microsoft. Major chip stocks also rallied after tech giants announced increased investment in AI. Inflation concerns remain despite positive economic data.
Intel and Dexcom saw share prices drop after weaker-than-expected forecasts. US personal spending and income for March exceeded expectations. The University of Michigan consumer sentiment index was revised downward. The chance of rate cuts at upcoming FOMC meetings is low. Overseas markets saw gains. Interest rates slid on Friday due to easing inflation concerns.
Alphabet, ResMed, and Nvidia were top gainers in the stock market after strong earnings reports. Microsoft, Amazon, Skechers, Snap Inc, and Ball Corp also posted impressive gains. Losers included Intel, Atlassian, Dexcom, Aon Plc, Boyd Gaming, Fair Isaac, Phillips 66, and Exxon Mobil. Upcoming earnings reports feature Arch Capital Group Ltd, Domino’s Pizza Inc, NXP Semiconductors NV, and more.



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