S&P records all-time high, market wraps on positive note, contracts decline
Strong economic data was overflowing today, Thursday, as the market had its session.
Stock futures, on the other hand, opened lower on Thursday evening following the strong performance of the indexes the same day. All three major index's futures fell back ranging from 0.19% to as high as 0.35%.
Shares of Twitter (TWTR) was cut down hard after investors felt disappointed with the results of the Q2 revenue guidance report that was released, falling short from expectations. The investors felt that the company's ad sales could have matched competitor trends such as Snap (SNAP) and Facebook (FB).
Meanwhile, Amazon (AMZN) shares skyrocketed in the late trading after Q1 earnings report came out strong, along with their Q2 guidance report that goes beyond expectations.
The reason for being is that online shopping, despite economic recovery and in-person business re-opening, is still booming. Overall, two-thirds of the companies under S&P have shared their results with 84% of them topping expectations.
Though there are still concerns about inflation and tax hikes, investors are now less affected. Market data shows that the Dow gained more than 200 points which brought them back to the 34,000 mark. NASDAQ got more than 30 points increase, while S&P jumped by almost 30 points, landing a new record high. Here's how today's market movement looks like:
- NASDAQ Composite Index stepped up to 14,083 after gaining 0.22% or 31.52 points
- The Dow Jones Industrial Average closed at 34,060 and increased by 0.71% or 239.98 points
- S&P 500 Index jumped 0.68% or 28.29 points and wrapped at 4,211
- U.S. 10 Year Treasury yield gained 1 basis point to 1.64%
- Gold slipped by 0.1% and now at $1,769.55 an ounce
- West Texas Intermediate crude slightly down by 1% at $64.37 per barrel
As more investors are eyeing the positivity of Cryptocurrencies, the digital market is again gaining momentum as of today, April 29th. We got the 5 main cryptocurrencies here, let's take a look at the current movements:
- Bitcoin (BTC) - $54,508.85
- Etherium (ETH) - $2,784.97
- Ripple (XPR) - $1.53
- Bitcoin Cash (BCH) - $923.74
- LiteCoin (LTC) - $264.23
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