From Nasdaq: 2025-04-24 18:30:00

Stock indexes rallied on Thursday, with the S&P 500, Dow Jones, and Nasdaq all closing higher. Megacap tech stocks and chip makers drove gains after positive earnings reports. Unemployment claims were in line with expectations, and Fed comments hinted at potential rate cuts. Market focus shifts to earnings and trade policies.

President Trump mentioned ongoing talks with China on trade, boosting stocks. Concerns remain over a quick resolution to the trade war. Dovish Fed comments and labor market data supported markets. Overseas markets settled higher, with Euro Stoxx 50, Shanghai Composite, and Nikkei Stock 225 all up.

Chip stocks surged on better-than-expected earnings results. Microchip Technology, ON Semiconductor, Texas Instruments, and Lam Research led gains. ServiceNow and Hasbro also reported strong results. Not all companies fared well, with Fiserv, LKQ Corp, Alaska Air Group, IBM, and PepsiCo among the losers.

Earnings reporting season is in full swing, with expectations for S&P 500 earnings growth at +6.7% for Q1. European government bond yields fell, and ECB member Rehn hinted at further rate cuts. Market attention turns to Q1 earnings reports and potential changes in trade policies. Friday brings the revised University of Michigan April consumer sentiment index.



Read more at Nasdaq: Stocks Finish Sharply Higher on Tech Stock Strength and Fed Rate Cut Hopes