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First Mag Seven Posts Missed Q1 Results, Rosy Outlook | Wall Street Today

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Moomoo Recap US joined discussion · Apr 23 15:33
First Mag Seven Posts Missed Q1 Results, Rosy Outlook | Wall Street Today
Indexes held onto the green Tuesday with a deluge of Q1 earnings finally underway that sent markets into rebound territory. Tesla missed earnings expectations, but still gained after hours.
The $S&P 500 Index traded +1.20% at the time of writing on preliminary closing numbers. The $Dow Jones Industrial Average climbed about 0.69%, and the $Nasdaq Composite Index climbed 1.59%.
Last week, market indexes pulled back hard. The S&P 500 and Nasdaq are still lower by about -0.22% and -1.67% compared to their starting prices last Monday.
MACRO
$U.S. 2-Year Treasury Notes Yield fell to 4.93 this morning after hitting 5% briefly last week, $U.S. 10-Year Treasury Notes Yield climbed slightly to 4.60.
The S&P Manufacturing PMI came out Tuesday morning at 49.9 compared to estimates of 52, a reading below 50 points tends to indicate a contraction in the activity level of purchasing managers in the manufacturing sector. Investors can expect further macro numbers this week: Q1 GDP updates will be released on Thursday, and the PCE, the Fed's favorite inflation indicator, will be released on Friday.
Last week, Fed's Powel warned rates would have to stay in place until the Fed was sure of the results, and that next year we would "know more."
SECTORS
Investors are watching the biggest of the big report earnings this week. Tesla is the first of the true giants to report, expected after the bell today.
Semiconductors as an industry pulled back about 2% Monday, and are climbing a further 2% Tuesday morning. $Super Micro Computer was leading the pack, as the AI industry rebounds. SMCI was the largest gainer on the S&P 500, though not counted within the Semi sector as recognized by moomoo.
Geopolitical worries pushed Gold, like other "safe" asset classes to all time highs. Gold Futures hit a high of $2,448 on April 12. More than a week later, gold and silver prices dropped to lows Tuesday.
Gold & Silver extend slide after biggest daily loss in almost two years
Gold & Silver extend slide after biggest daily loss in almost two years
MOOVERS
$Tesla(TSLA.US)$ reported earnings of $0.45 per share, compared to expectations of $0.52 expected on revenue of $21.3B vs $23B expected. The firm's forward guidance said there would be less vehicle "volume" compared to 2023, but there would be new models, AI, and fleet-based profits.
First Mag Seven Posts Missed Q1 Results, Rosy Outlook | Wall Street Today
$NVIDIA(NVDA.US)$ was rising 3% Tuesday. Wall Street is backing the chip maker to recoup its recent losses once its new range of chips starts powering growth.
$General Motors (GM.US)$ climbed nearly 5% Tuesday after its morning earnings release lifted its profit outlook on strong gas truck demand.
$General Electric (GE.US)$ Aerospace climbed 7% posted better-than-expected results for 1Q, which included the performance of the power business that it officially separated from days after the quarter ended.
$PepsiCo (PEP.US)$ was the largest decliner on the Nasdaq 100, down 2%, after its first quarter earnings beat expectations but its forward projections looked "uncertain."
$Apple(AAPL.US)$'s smartphone sales in China dropped sharply in the first quarter, hurt by the popularity of local rivals and the return of Huawei Technologies to the high-end segment. On the news, the firm announced a special event scheduled for May 7, where it is expected to unveil new iPads.
$Spotify Technology(SPOT.US)$ reported a strong Q1, with 197 million euros net profit ($210.0 million), or 97 euros cents a share, compared with a loss of EUR225 million, or EUR1.16 a share the same period a year earlier.
WORD FROM THE HEARD: Mooers, what are you watching?
Disclaimer: This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Indexes are unmanaged and cannot be directly invested in. Past performance is no indication of future results. Investing involves risk and the potential to lose principal. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors. It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information regarding your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty regarding its adequacy, completeness, accuracy, or timeliness for any purpose of the above content. See thislinkfor more information.
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