On Thursday, April 30th, the New York Stock Exchange opened higher with the results of technology companies boosting market sentiment amidst growing concerns about the situation in the Middle East.
In early trading, the Dow Jones index gained 247.12 points, or 0.51%, to 49,108.93 points, while the broader Standard & Poor’s 500 rose by 0.43% to 7,166.59 points.
The Nasdaq Composite increased by 0.61%, or 149.53 points, reaching 24,822.77 points.
The technology giants’ results were well received, overshadowing concerns about the Middle East that had driven oil prices to their highest level in over four years earlier in the day.
Alphabet, Google’s parent company, surged by more than 6% in early trading after a record quarter for its “cloud” division, while Amazon gained 2% after surpassing sales forecasts in the same sector.
However, Meta, which raised its investment spending forecast for 2026, saw a decrease (-7.8%), and Microsoft lost over 3% as its Azure division did not meet investors’ expectations.
The geopolitical situation remains tense, potentially leading to volatility, especially after the news that President Donald Trump would review plans for new strikes against Iran, dampening investors’ optimism for a diplomatic resolution to the conflict.
The ongoing war and its impact on prices, with the Strait of Hormuz still blocked, have cast a shadow over economic prospects since the conflict began, including Wednesday when the Federal Reserve (Fed) kept interest rates unchanged while expressing growing concerns about inflation.
Macroeconomic data released before the market opening on Thursday showed that economic growth accelerated in the US in the first quarter, likely a temporary trend, while the PCE inflation, closely watched by the central bank, rose in March due to higher gasoline prices.
In other news, Eli Lilly, which raised its annual profit and sales forecasts, rose by 6%.
(Redacted by Diana Mandiña)
