Dow Jones gains 500 points. Amazon On Fire following the report

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.




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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.

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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.

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