Tech and chip makers drive stock market gains, supported by positive earnings reports and stable labor market.

From Nasdaq: 2025-04-24 11:55:00

The stock market is mixed today with the S&P 500 up, Dow Jones down, and Nasdaq rising. Tech stocks and chip makers are driving gains after positive earnings reports. US labor market stability and lower T-note yields are also boosting stocks. Concerns over the China-US trade war limit gains.

US weekly initial unemployment claims met expectations, while continuing claims fell to a 10-week low. March capital goods orders and Chicago Fed national activity index data were in line with expectations. Dovish comments from Cleveland Fed President Hammack hinted at a possible rate cut in June.

European government bond yields are lower, with the German bund yield down. Eurozone car registrations fell, but the German IFO business confidence index rose unexpectedly. ECB member Rehn suggested further rate cuts may be necessary. Swaps indicate a high probability of an ECB rate cut in June.

Stock movers include Nvidia, Tesla, and other tech giants up more than +1%. Chip stocks like Microchip and Texas Instruments are rallying on strong earnings. ServiceNow and Hasbro lead gainers in the S&P 500. Fiserv and Alaska Air Group are among the biggest losers.

Earnings reports for various companies are expected on April 24, 2025. The market is closely watching Q1 corporate earnings and trade policies changes. Overseas markets are mixed, with Euro Stoxx down, Shanghai Composite and Nikkei up. Interest rates are up for June 10-year T-notes.



Read more at Nasdaq: Stocks Supported by Strength in Big Tech and Chip Makers