US stocks closed | The banking crisis raised widespread concerns, and the three major indices had mixed ups and downs; Microsoft rose more than 7% to a one-year high, and Meta's earnings report favoured a sharp rise after the market

On Wednesday, April 26, boosted by Microsoft's favorable earnings report, US stocks collectively opened higher, and the NASDAQ rose more than 1% at the beginning of the session. Less than an hour after opening, the Dow erased a 115-point increase and turned down. The S&P 500 index then turned down, with the Dow falling as deep as 170 points.
US stocks rebounded during midday trading, and the S&P market rose again and rose to a daily high of 0.4%. The NASDAQ also reached a new daily high and rose 1.4%. The Dow and Russell small-cap stocks, which had previously fallen 0.6%, both briefly turned up.
At the end of the session, negative news from the First Republic Bank of America was frequent. Major US stock indices, with the exception of the NASDAQ, fell again and closed near daily lows, and the increase in the NASDAQ narrowed significantly.
The Dow fell two times in a row to its lowest level since March 31, and S&P fell two times in a row to its lowest level since March 30, both hit a low of nearly four weeks. Russell's small-cap stocks hit their lowest since March 23, but the NASDAQ and NASDAQ 100 broke away from their lowest level since March 28: by the end of the day, Dow $Dow Jones Industrial Average(.DJI.US)$ fell 0.68%, $Nasdaq Composite Index(.IXIC.US)$ up 0.47%, $S&P 500 Index(.SPX.US)$ fell 0.39%.

S&P's 11 sectors generally declined, only $The Technology Select Sector SPDR® Fund(XLK.US)$ Up 1.49%. $Utilities Select Sector SPDR Fund(XLU.US)$ The block fell 2.35%, $Industrial Select Sector SPDR Fund(XLI.US)$ 、 $The Health Care Select Sector SPDR® Fund(XLV.US)$ $Energy Select Sector SPDR Fund(XLE.US)$ 、 $Materials Select Sector SPDR ETF(XLB.US)$ ， $The Communication Services Select Sector SPDR® Fund(XLC.US)$ The decline was between 1.89%-1.06%, $Financial Select Sector SPDR Fund(XLF.US)$ It fell nearly 1%, $Consumer Discretionary Select Sector SPDR Fund(XLY.US)$ $Consumer Staples Select Sector SPDR Fund(XLP.US)$ ， $Real Estate Select Sector Spdr Fund (The)(XLRE.US)$ It fell 0.51, 0.78% and 0.82%, respectively.

Star technology stocks had mixed ups and downs. $Microsoft(MSFT.US)$ It rose more than 7%, the biggest one-day increase since November 2022" $Amazon(AMZN.US)$ increased by more than 2%, $Meta Platforms(META.US)$ Up 0.89. Meta's quarterly report and second-quarter outlook were better than expected, rising more than 11% after the market. $Apple(AAPL.US)$ A slight decrease of 0.01%, $Alphabet-A(GOOGL.US)$ fell 0.13%, $Netflix(NFLX.US)$ fell 0.43%, $Tesla(TSLA.US)$ It fell more than 4%.

The software application and semiconductor sectors are rising, $NVIDIA(NVDA.US)$ ， $Advanced Micro Devices(AMD.US)$ increased by more than 2%, $Peraso(PRSO.US)$ An increase of more than 7%, $Micron Technology(MU.US)$ Up nearly 5%, $STMicroelectronics(STM.US)$ 、 $ON Semiconductor(ON.US)$ An increase of more than 2%.

The solar energy and automobile manufacturing sectors declined. $First Solar(FSLR.US)$ A drop of more than 5%, $Blue Bird(BLBD.US)$ 、 $General Motors(GM.US)$ Decreased by more than 2%.

Chip stocks narrowed their gains at the end of the session. The one that fell more than 3% yesterday $PHLX Semiconductor Index(.SOX.US)$ It turned 0.6%, breaking away from a two-month low. AMD rose 2.6% to break away from a six-week low. $Intel(INTC.US)$ It rose 0.6%, stopping a six-day decline, and was off the five-week low with Nvidia, which had risen nearly 3%.

AI concept stocks have rebounded. $C3.ai(AI.US)$ After erasing an increase of more than 3%, it stopped falling for six days but remained at its lowest level in three months. $SoundHound AI(SOUN.US)$ It rose 4%, breaking away from a new monthly low. BigBear.ai $BigBear.ai Holdings(BBAI.US)$ It rose nearly 19%, and stopped falling for six days. It broke away from a three-week low and basically recovered from the decline since last Thursday.
$第一共和银行(FRC.US)$ It once again plummeted by nearly 30%. At one point, it fell more than 40% during the intraday period, and experienced at least five suspensions. According to the Financial Times, people familiar with the matter said that for a few weeks, First Republic Bank has been looking for buyers for some of its business, but potential buyers are worried about taking too many risks. According to CNBC, citing sources, the White House or the US Treasury had no intention of interfering with the bank's situation.

Meta's revenue rose for the first time in nearly a year, surging nearly 12% after the market
After the market on Wednesday, US social media and metaverse giant Meta revealed its 2023 quarterly report. Of this, revenue of US$28.65 billion, achieved another year-on-year increase after nearly a year. At the same time, it was more than US$1 billion higher than Wall Street analysts' expectations; earnings of US$2.2 per share were also 10% higher than expected. The company's revenue forecast for the second quarter was 295 to 32 billion US dollars, and analysts' consensus forecast was 29.47 billion US dollars. Affected by this news, the company surged nearly 12% after the market.

The company also disclosed that the metaverse division Reality Labs achieved a total revenue of US$339 million in the first quarter, roughly half of the same period last year; however, operating losses reached US$3,992 million, an increase of 30% over the previous year.

On Wednesday (April 26) local time, the UK Competition and Markets Authority (CMA) vetoed Microsoft's deal to acquire game company Activision Blizzard on the grounds that the completion of the deal would damage competition in the cloud gaming sector. This trend also marks the close collapse of this 68.7 billion US dollar deal.

Although both companies have stated that they will “meet in court” with the CMA, the media quoted lawyers in the field of antitrust as revealing that it is extremely difficult to defeat the CMA in court. Because the trial process of a case is concerned with the legality and rationality of the decision, as well as the procedural correctness of the decision-making process.

Affected by this message, $动视暴雪(ATVI.US)$ It closed down 11.45% on Wednesday, but Microsoft's stock price rose by more than 7%, driven by financial incentives, and was not greatly affected by this news.