01 Stock Market
The U.S. major indexes closed as follows: Dow Jones declined 0.57% at 48,861.81; S&P 500 fell 0.04% at 7,135.95; NASDAQ edged up 0.04% at 24,673.24. Investors absorbed a wave of Big Tech earnings while weighing Federal Reserve signals that policy rates remain unchanged.
Chip names dominated the session’s unusual-move list. Intel (INTC) jumped 12.10% at $94.75 after upbeat commentary on artificial-intelligence demand, while flash-controller maker Silicon Motion (SIMO) soared 45.80% at $217.50. Storage specialists also rallied: Seagate Technology (STX) climbed 11.10% at $643.30 and Western Digital (WDC) advanced 5.57% at $412.76. Renewable-energy equipment supplier Bloom Energy (BE) surged 27.21% at $287.97. On the downside, fintech lender SoFi Technologies (SOFI) fell 15.44% at $15.53 after maintaining its annual outlook.
Earnings and policy headlines steered trading sentiment. Solid revenue beats from Amazon, Alphabet and other tech bellwethers underpinned growth shares, although profit-taking capped broader gains. The Federal Reserve’s decision to keep the fed-funds rate at 3.50%-3.75% and signals of internal dissent kept investors cautious. Meanwhile, escalating Middle East tensions lifted energy-linked instruments, adding rotation pressure within sectors.
02 Other Markets
The U.S. 10-year Treasury yield was unchanged, latest at 4.42%. USD/CNH rose 0.01%, at 6.87; USD/HKD fell 0.00%, at 7.84. U.S. Dollar Index fell 0.03%, at 98.92. WTI crude futures rose 1.47%, at 108.45 USD/bbl; COMEX gold futures rose 0.07%, at 4,564.90 USD/oz.
03 Top News
1. Amazon beat expectations with a 28% jump in AWS revenue, signalling strong AI-driven cloud demand. Total sales grew to $181.5 billion, and management reaffirmed plans for about $200 billion in annual capital spending. Shares rose in after-hours trading as investors welcomed the acceleration.
2. Alphabet posted record cloud growth, with Google Cloud revenue surging 63% to $20 billion. Operating income for the cloud unit tripled to $6.6 billion, and the company lifted its multiyear capital-expenditure plan to as much as $190 billion. The results highlight widespread enterprise adoption of AI infrastructure.
3. The Federal Reserve left its benchmark rate unchanged at 3.50%–3.75%, while Chair Jerome Powell vowed to remain a governor after his term ends. An 8-4 split vote showed the highest dissent since 1992, underscoring divisions about future easing. Markets interpreted the statement as keeping a cautious easing bias.
4. The Senate Banking Committee advanced Kevin Warsh’s nomination for Federal Reserve Chair, sending it to a full Senate vote. The move paves the way for leadership transition at the central bank. Warsh has indicated potential shifts in the Fed’s policy framework if confirmed.
5. Escalating Middle East tensions boosted oil prices as the White House discussed extending the Iran maritime blockade. U.S. officials met with energy executives to ensure supply resilience, while Brent and WTI jumped more than 5%. Iran warned of “unprecedented” military action if seizures of its vessels continue.
6. Intel’s stock continued its meteoric rise, gaining over 100% in April amid soaring AI chip optimism. Options pricing now implies daily swings of roughly 4.5%, prompting strategists to debate hedging tactics as momentum indicators flash overbought signals.
7. Teva Pharmaceutical’s focus on branded drugs paid off with adjusted EPS of $0.53, topping estimates. Revenue reached $3.98 billion, and shares gained in pre-market trade as the company’s portfolio shift offset generic competition.
8. General Dynamics reported a 10% revenue rise to $13.48 billion, driven by 21% growth in marine systems. Quarterly profit climbed to $1.13 billion, and the defense contractor highlighted a backlog of $130.8 billion, supporting future visibility.
9. Avis Budget Group posted a wider-than-expected quarterly loss of $8.01 per share, sending the stock down 16%. The reversal follows a dramatic short-squeeze rally earlier in April, with shares now off roughly 75% from their peak as fundamentals reassert themselves.
10. SoFi Technologies reported record loan originations but disappointed investors by keeping its full-year outlook unchanged. Adjusted revenue grew 41% to $1.09 billion, yet the stock slid sharply amid concerns that lending growth may not translate into higher 2026 earnings guidance.
Sources: Reuters, Dow Jones, Thomson Reuters, MT Newswires, public market data Disclaimer: This content is for reference only and does not constitute investment advice.
