Wall Street Rises Slightly, Big Tech Reports Split the Market!
US stocks tended to strengthen on Thursday (April 30), although the market response to the performance reports from major technology companies was mixed. The S&P 500 and Nasdaq 100 rose slightly, while the Dow Jones Industrial Average gained around 300 points amid a combination of hyperscaler earnings and energy price dynamics.
In pre-opening trading, Alphabet jumped more than 6%. Amazon also gained after exceeding cloud computing revenue expectations and recording increased corporate client wins for its AI technology, as well as posting profit performance that far exceeded expectations.
Conversely, MetaTrader 5 plunged 10% after projecting a surge in capital spending for AI, fueling concerns that infrastructure development could lag behind demand. Microsoft fell 4% despite meeting consensus for its AI and cloud services, suggesting the market is now more sensitive to spending and margin direction than simply "beating" the numbers.
Data-wise, the US economy grew 2% annualized in the first quarter, with AI-related spending helping to prop up expansion amid slowing consumption as high gasoline prices weighed on household spending. Outside of technology, Eli Lilly rose about 5% after reporting its results, while Mastercard weakened after releasing its results. (gn)
Source: Newsmaker.id
