Market Benchmarks Climb on Tech Strength
S&P 500 futures edged up 0.45% after the index closed at 5,484.77, a 2.03% gain that marked its third straight positive session. Nasdaq-100 futures climbed 0.51% following a 2.74% advance in the Nasdaq Composite to 17,166.04. Dow futures held near unchanged after the Dow Jones Industrial Average rallied 1.23% to 40,093.40. The week-to-date performance shows the S&P up nearly 4%, the Nasdaq up over 5%, and the Dow ahead by more than 2%, underscoring a broad-based rebound despite ongoing trade jitters.
Megacap Movers: GOOGL and INTC React to Earnings
In after-hours trading, Alphabet (GOOGL) jumped about 5% following a beat on both revenue and earnings, sending shares toward First-quarter revenue of $90.23 billion topped analyst estimates of $89.12 billion, and EPS of $2.81 handily exceeded forecasts of $2.01. By contrast, Intel (INTC) shares slid more than 5% after forecasting Q2 revenue of $11.8 billion at the midpoint—below the $12.82 billion expected—and warning of breakeven earnings. Traders sent INTC toward <a href="https://www.tradingnews.com/Stocks/INTC/real_time_chart">INTC real_time_chart</a> as the chipmaker pledged to cut operational and capital expenses in response to tepid demand.
Tariff Tensions Weigh, but Spark Occasional Rally
Stocks have lurched in recent weeks amid President Trump’s “reciprocal” tariffs, with China’s Ministry of Commerce on Thursday declaring no ongoing tariff talks and demanding cancellation of “unilateral measures.” Trump signaled the U.S. may reduce the 145% levies on Chinese imports but vowed they “won’t be zero.” As investors parsed these mixed signals, small bursts of optimism have driven megacap technology stocks higher, offsetting broader economic uncertainty. The market’s reaction suggests that even frayed sentiment can flip quickly on hopes for a de-escalation.
Federal Reserve Watch: June Rate Cut on the Table
Federal Reserve Bank of Cleveland President Beth Hammack said a June rate cut could materialize if incoming data were “clear and convincing,” ruling out May but lifting hopes that the Fed might ease sooner than markets previously thought. Treasury yields dipped back toward 4.3% and the dollar steadied near 100 as traders weighed Hammack’s remarks alongside the ever-shifting trade policy landscape.
Blue-Chip Earnings on Tap for Friday
Before the opening bell, AutoNation (AN), Colgate-Palmolive (CL), and AbbVie (ABBV) will unveil quarterly results, each closely watched for guidance on consumer and healthcare demand in a tariff-strained environment. Investors will look for any signs these stalwarts are feeling the pinch from higher costs or shifting consumer sentiment.
Cryptocurrency and Alternative Bets See Wild Swings
In crypto markets, the SPAC Cantor Equity (CEP) soared over 60% after announcing a merger with Twenty One Capital, set to launch with 42,000 bitcoins under management. CEP’s surge reflects renewed investor appetite for digital-asset plays even as equities wobble.
Meanwhile, meme tokens tied to political figures rallied, illustrating how momentum and narrative can override fundamentals in this corner of finance.
Economic Data and Sentiment
Traders will digest the April consumer sentiment index at 10 a.m. ET, where economists expect an unchanged reading of 50.8. Durable goods orders in March surged 9.2%, led by aircraft bookings up 190%, a possible pre-tariff pull-forward. Existing home sales fell 5.9% to a 4.02 million annual rate, stalling the spring selling season as mortgage rates hover near 6.8%. These data paint a picture of an economy grappling with higher financing costs even as companies and consumers scramble ahead of tariffs.
Volatility Persists, but Market Finds Short-Term Catalysts
UBS strategists caution that volatility will remain elevated, driven by trade headlines and Fed cues, yet note that recent strength signals growing confidence that worst-case outcomes can be avoided. As Anthony Saglimbene of Ameriprise observes, Big Tech earnings this coming week—led by Meta (META), Microsoft (MSFT), Amazon (AMZN), and Apple (AAPL)—could provide the spark to extend this three-day rally. Their reports, alongside Netflix (NFLX) hitting an all-time high, suggest that while macro risks loom, company-specific catalysts can still propel markets higher.
The week’s final trading sessions will hinge on whether that momentum carries forward, or if fresh waves of trade or economic uncertainty reassert themselves in the indices’ choppy ride.
