Stocks rebound amid earnings

Allan Tong Posted On May 2, 2024

Markets, particularly in New York, enjoyed a convincing rally after days of sideways or weak trading. The S&P rose 0.79%, the Nasdaq 1.4% and the Dow 0.69%.

Among the major movers were Apple, which rallied 2.27% heading into earnings after the bell, Paramount Global which soared 13.09%, Amazon 2.87% and Moderna which humped 12.51%. In contrast, Etsy closed the day at -15.33%. The U.S. 10-year yield edged down 4.583% a day after Jay Powell held interest rates steady. Bitcoin added 1.85% to US$59,300.

The TSX advanced 0.4% as all but three sectors rallied. Materials were weak, but staples, real estate, utilities and industrials jumped. Enbridge rose 1.71%, Thomson Reuters 6.87%, Brookfield Renewables another 5.22% and Paramount Resources +5%. However, Air Canada lost altitude at -8.36%. Gold shed US$16 to US$2,303 while WTI was flat at US$79.

🍎 Apple Inc (AAPL-Q) +2.27%

🎞 Paramount Global (PARA-Q) +13.09%

📦 Amazon.com, Inc. (AMZN-Q) +2.87%

💉 Moderna (MRNA-Q) +12.51%

🛍 Etsy Inc. (ETSY-Q) -15.33%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) -1.85%

🛢 Enbridge (ENB-T) +1.71%

🖨 Thomson Reuters Corp (TRI-T) +6.87%

💡 Brookfield Renewable Energy (BEP.UN-T) +5.22%

🛢 Paramount Resources (POU-T) +5%

🛫 Air Canada (AC-T) -8.36%