Wall Street jumped on Wednesday evening after Microsoft and Meta Platforms crushed quarterly income and overthrew the momentum of the market. The rebound came quickly and hard after the future climbed through the table.
The merchants, shaken earlier by the low numbers of GDP and the confusion of White House policies, turned their attention to Big Tech. They pushed the future Dow 138 pointsOr 0.3%, while the term contracts on S&P 500 increased by 0.8%and the term contracts on the NASDAQ 100 exploded by 1.3%. Each of these movements has been pinned to income.
Meta, who posted her first quarter results after the hours, won more than 5% in prolonged trading. The quarter income has been aforementioned. Microsoft went even higher, winning almost 7% after defeating income and profits estimates for the third budgetary quarter.
What attracted the attention of investors is azure. Its cloud unit has again gave strong growth and the company gave advice that left satisfied buyers.
Tesla's actions, on the other hand, did exactly the opposite. They fell by more than 3% in working hours after working hours on Robinhood following reports that the board of directors now hunts someone to succeed Elon Musk as CEO. No replacement has been appointed, but research alone was sufficient to send the stock of the stock.
Merchants ignore shrinking GDP
Earlier in the day, the market was not so confident. Wall Street had started the disorderly session. In the middle of the morning, the S&P 500 had dropped by more than 2% and the DOW dropped by more than 780 points.
Then everything was reversed. By the fence bell, the two clues finished in the green, and it was not based on solid fundamentals either. It was first panic, then the purchase.
Part of this panic came from new data from the trade service. The latest reading has shown that the gross domestic product narrowing at a rate of 0.3% on an annualized basis. This is the first quarter of negative growth since the beginning of 2022.
Analysts interviewed by Dow Jones sought an increase of 0.4%. They did not understand it. Instead, the economy slipped back. But the merchants ignored it, rather choosing to hunt the beaten names at the end.
This volatility marked the last day of negotiation of April, which was brutal. The actions were shaken after President Donald Trump abandoned a “reciprocal” pricing announcement on April 2. He then fell ascendant, but the damage has already been caused.
At one point, the S&P 500 had dropped by more than 20% compared to its February record, enough to qualify as a bear market. The index closed the month down 9% compared to its summit.
The Dow and the S&P 500 have not recovered enough to save the month. The DOW lost 3.2%, while the S&P dropped by 0.8%. Only the composite Nasdaq escaped with gains, ending in April 0.9%.
Fed expectations change while trading volume is late
On the front of the Federal Reserve, traders now expect the Central Bank to reduce interest rates from a full point before the end of the year. However, the recent remarks by President Jerome Powell and other Fed officials suggest that they will be very slow to act. There is no guarantee that these cuts will occur soon.
On Wednesday also marked the 100th day of Trump's return to the White House. Since he took office, his trade policies, his pricing threats and his non -stop political waterfalls have canceled all early hope for deregulation or tax reductions. Whatever Boost that the markets felt after his November victory were completely evaporated. Volatility is what remains.
The figures confirmed how tough the session, even if it ended in green. On the NYSE, the drop in shares beat lawyers with a ratio from 1.19 to 1. On the NASDAQ, it was worse – 1.28 to 1. The S&P 500 marked 10 new summits of 52 weeks and 3 new stockings. But the Nasdaq Composite had 39 new heights and 85 new narcotics.
And volume? Down. The total exchanges between the American scholarships reached 16.97 billion shares, well below the average of 20 days of 19.57 billion. It is not exactly a sign of confidence. This proves to which everyone is always frightened, even with a gathering on the table.
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