FX.co ★ U.S. Stocks Set To End On Firm Note Again

On Tuesday afternoon, U.S. stocks are seeing considerable growth across various sectors due to the expectation of robust earnings from leading technology companies. Key players in the technology sector, including Microsoft, Alphabet, and Meta Platforms, are set to announce their quarterly earnings this week. In addition, other prominent companies like Tesla, Boeing, Intel, American Airlines, Chevron, and Exxon Mobil are also scheduled to reveal their quarterly financial results this week.

The leading averages are making remarkable gains, with Dow Jones rising about 0.8 percent or 303.77 points to 38,543.72. The S&P 500 experienced an increase of 62.80 points, representing a 1.25 percent rise to 5,073.60, while the Nasdaq surged 253.64 points or 1.64 percent to 15,704.94.

Companies like Goldman Sachs, JPMorgan Chase, Procter & Gamble, Amazon, McDonald's, Salesforce.com, Chevron, and Amgen are seeing increases of 1 to 2 percent. Danaher, with a rise of 6.6 percent, is leading the S&P 500. General Motors, Super Micro Computer, GE Aerospace, United Rentals, and Verizon are all seeing gains of 3 to 5 percent. Stocks in Illumina, Netflix, Microchip Technology, and Micron Technology are notably surging.

In contrast, Invesco's value declined by 4.8 percent, and Walmart's value also dropped by over 2 percent. Companies like Pepsico and Cadence Design Systems are observing notable decreases too.

The Commerce Department reports a significant growth in new home sales across the U.S. in March. New home sales rose by 8.8 percent to an annual rate of 693,000 after a 5.1 percent decline to 637,000 in February. The projected rate of 668,000 for the new home sales went beyond the initial 662,000 estimated for the previous month.

However, building permits fell by 3.7 percent to a seasonally adjusted rate of 1.467 million in March 2024, an adjustment from the earlier estimate of 1.458 million. This comes after a 2.3 percent increase in February.

April 2024 saw the S&P Global US Composite PMI decreasing to 50.9 from 52.1 in the previous month, marking a modest expansion in the nation's private sector, the slowest since December.

In international markets, Asian-Pacific region stocks exhibited a mixed performance on Tuesday. Japan's Nikkei 225 Index rose by 0.3 percent while China's Shanghai Composite Index dropped by 0.7 percent.

European markets ended the day with growth. The German DAX Index surged by 1.55 percent, France's CAC 40 rose by 0.81 percent, and the U.K.'s FTSE 100 closed with a 0.26 percent increase.