The Dow Jones Industrial Average finished more than 500 points higher on Thursday, up 1.5% at 4 p.m. ET. Technical lead Microsoft (MSFT) rose for a second day after strong gains earlier this week. apple (AAPL) And sales force (CRM) as were the gainers.
Amazon (AMZN) reported sales of $127.4 billion in the first quarter — up 9% and earnings per share of 31 cents, compared to a loss of 38 cents per share a year ago. AMZN shares cleared the 200 line on Thursday and surged up 7% in after-hours market. Intel (INTC) Sales of $11.7 billion for the quarter and a loss of 4 cents per share. INTC stock was up about 1% after hours.
The S&P 500 was also trading at its highest levels of the day with a gain of nearly 2.0% at the closing bell. huge gains from IBD Leaderboard stock Meta platforms (meta) and as for Amazon and Google the alphabet (Google) lifted the Nasdaq by about 2.5%. Small-cap Russell 2000 gains were more modest, at 1.1%.
Volume on the NYSE and Nasdaq came close to matching Wednesday’s levels.
Crude oil rose nearly 1% to $74.84 a barrel. The yield on the benchmark 10-year Treasury note rose 9 basis points, to 3.53%.
The first estimate for Q1 GDP slowed to 1.1% compared to a consensus of 2% as businesses paused inventory building. However, the Personal Consumption Index (PCE) rose 4.2% year-on-year. Initial jobless claims for the week ending April 22nd came in below expectations of 230,000.
Stocks are moving today
Meta rose nearly 15% Thursday after strong earnings late Wednesday, thanks in part to strong cost cutting. The social media giant Silicon Valley raised guidance for the current quarter but cut spending plans.
in the Dow Jones index, Larva (cat) fell below the 200-day line despite the strong gains. among healthcare stocks, merck (Mrk) pared early losses after earnings and was up 1.5% at the end of the day. Eli Lilly (LLY) rose above a buy point at 376.41.
Earnings group: Dow stock in focus
Intel (INTC) rose after testing the 50-day support from Thursday. The massive segment has underperformed the stock market, with a relative strength rating of 31, according to MarketSmith chart analysis. Low demand for computers and stiff competition from advanced micro devices (AMD) is a headwind to the growth of the industry.
First Solar (FSLR) also tests support at the 50-day line before earnings after the close. On Monday, Citi downgraded the solar stock for sale with a price target of 194.
Cloud Flair (network) is approaching a buy point at 66.30 before earnings, today as well. 50-day line testing of Network Software Inventory in Monitor.
chevron (CVX) And Exxon (xom) on deck on Friday. Shares of both oil and gas companies are hovering above the 50-day lines.
Please continue VRamakrishnan On Twitter for more stock market news today.
You may also like:
Top growth stocks to buy and monitor
Learn how to time the market with IBD’s ETF market strategy
Find the best long-term investments with IBD’s long-term leaders
MarketSmith: Research, charts, data and training in one place
“Beer aficionado. Gamer. Alcohol fanatic. Evil food trailblazer. Avid bacon maven.”