Market Analysis on April 26

During the volatility of the earnings season, the US stock market showed fluctuations, with the S&P 500 and Nasdaq indices successfully narrowing most of the losses by the closing bell after experiencing morning losses, while the Dow Jones Industrial Average continued to decline for the second consecutive day. Heavyweight tech stocks IBM and $Caterpillar (CAT.US)$ the announcement of their earnings reports, plunging by over 8% and 7% respectively, while Facebook's parent company, Meta Platforms, also suffered a significant 10% drop due to poor financial results, marking the largest decline in two years. In stark contrast, Tesla's stock price rose by 5%, while the overall chip sector rebounded strongly led by NVIDIA, with NVIDIA initially dropping nearly 2% in early trading before closing nearly 4% higher.

US economic data shows that the GDP growth rate in the first quarter was only 1.6%, the lowest level in nearly two years, and the core PCE price index is showing an accelerating trend, further weakening market expectations of a recent rate cut by the Federal Reserve. At the same time, the US Securities and Exchange Commission (SEC) is expected to reject the approval of a spot Ethereum ETF next month, which also had a certain impact on market sentiment.

Under the influence of the earnings season, the stock prices of Google and Microsoft saw significant increases in after-hours trading, while Intel experienced a decline. Following the release of macroeconomic data in the US, the US dollar index and US Treasury yields both rose, while the yen continued to depreciate. After an initial decline, crude oil prices rebounded, and gold prices recovered slightly after the initial drop. In the base metal market, the prices of zinc and copper performed strongly.

In the Chinese market, Chinese concept stocks overall performed strongly, with Li Auto experiencing a slight decline while stocks of companies like JD.com rose. Offshore renminbi to US dollar exchange rates rebounded during intraday trading. A-shares saw mixed movements, with chemical stocks standing out, while the Hang Seng Index in Hong Kong rose for the fourth consecutive day.

$Tesla (TSLA.US)$ $NVIDIA (NVDA.US)$ $Alphabet-A (GOOGL.US)$ $Microsoft (MSFT.US)$ $IBM Corp (IBM.US)$

======= I am a dividing line =======

May 3rd Shareholders' Meeting

https://us06web.zoom.us/meeting/register/tZcud-6gpzIvHdYSgM0u2ec2c90jZIaOlgrg

MY Moomoo Account Opening Link

https://j.moomoo.com/00JowO

Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only. Read more