{"id":322175,"date":"2023-04-26T18:12:26","date_gmt":"2023-04-26T22:12:26","guid":{"rendered":"https:\/\/stockchase.com\/discover\/?p=322175"},"modified":"2023-04-26T18:14:31","modified_gmt":"2023-04-26T22:14:31","slug":"markets-drift-despite-strong-tech-earnings","status":"publish","type":"post","link":"https:\/\/stockchase.com\/discover\/markets-drift-despite-strong-tech-earnings\/","title":{"rendered":"Markets drift despite strong tech earnings"},"content":{"rendered":"<p>Wednesday began with a rally, but faded into the close despite some positive earnings, particularly in tech. Microsoft made headlines by announcing a strong quarter and after U.K. regulators blocked their acquisition of Activision-Blizzard.<\/p>\n<p><a href=\"https:\/\/stockchase.com\/MSFT-Q\">MSFT<\/a> rallied 7.37%, though <a href=\"https:\/\/stockchase.com\/ATVI-Q\">ATVI<\/a> plunged 11.23% after the street considered the deal now unlikely or dead. Earnings also lifted <a href=\"https:\/\/stockchase.com\/CMG-N\">Chipotle<\/a>, up 12.64%, but <a href=\"https:\/\/stockchase.com\/V-N\">Visa<\/a> declined 0.68% despite a positive quarter and forecast. <a href=\"https:\/\/stockchase.com\/FRC-N\">First Republic Bank<\/a> sank to new lows, down 31.17%, after reports that Washington will not rescue the regional bank. The S&amp;P finished -0.39% though remained above 4,000, the Nasdaq 0.47% though still short of 12,000, and the Dow -0.65%. The U.S. 10-year yield was 3.43% while <a href=\"https:\/\/stockchase.com\/CRYPTO:BTC\">Bitcoin<\/a> slipped 0.74% to $27,300.<\/p>\n<p>The TSX closed -0.36% with sectors mixed. Staples were up, but industrials and energy were down. WTI oil slid 3.5% to $74 a barrel. Earnings also dominated here. <a href=\"https:\/\/stockchase.com\/RCI.B-T\">Rogers<\/a> rose 2.57%, <a href=\"https:\/\/stockchase.com\/ALA-T\">Altagas<\/a> 4.93%, though <a href=\"https:\/\/stockchase.com\/CVE-T\">Cenovus<\/a> finished -3.71% and <a href=\"https:\/\/stockchase.com\/TFII-T\">TFI International<\/a> -11.31%. The saga at <a href=\"https:\/\/stockchase.com\/TECK.B-T\">Teck Resources<\/a> continued as shareholders voted to end the dual class share structure; shares bounced 4.05%.<\/p>\n<p>&#x24c2; <a href=\"https:\/\/stockchase.com\/MSFT-Q\">Microsoft Corp (MSFT-Q)<\/a> +7.37%<br \/>\n&#x1f3ae; <a href=\"https:\/\/stockchase.com\/ATVI-Q\">Activision Blizzard (ATVI-Q)<\/a> -11.23%<br \/>\n&#x1f336; <a href=\"https:\/\/stockchase.com\/CMG-N\">Chipotle Mexican Grill (CMG-N)<\/a> +12.64%<br \/>\n&#x1f4b3; <a href=\"https:\/\/stockchase.com\/V-N\">Visa Inc. (V-N)<\/a> -0.68%<br \/>\n&#x1f3db; <a href=\"https:\/\/stockchase.com\/FRC-N\">First Republic Bank (FRC-N)<\/a> -31.17%<br \/>\n&#x1f171; <a href=\"https:\/\/stockchase.com\/CRYPTO:BTC\">Bitcoin (BTCUSD) (CRYPTO:BTC)<\/a> -0.74%<br \/>\n&#x1f4e1; <a href=\"https:\/\/stockchase.com\/RCI.B-T\">Rogers Communications (B) (RCI.B-T)<\/a> +2.57%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/ALA-T\">Altagas Ltd (ALA-T)<\/a> +4.93%<br \/>\n&#x1f6e2; <a href=\"https:\/\/stockchase.com\/CVE-T\">Cenovus Energy (CVE-T)<\/a> -3.71%<br \/>\n&#x1f69a; <a href=\"https:\/\/stockchase.com\/TFII-T\">TFI International Inc (TFII-T)<\/a> -11.31%<br \/>\n&#x26cf; <a href=\"https:\/\/stockchase.com\/TECK.B-T\">Teck Resources Ltd. (B) (TECK.B-T)<\/a> -4.05%<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wednesday began with a rally, but faded into the close despite some positive earnings, particularly in tech. Microsoft made headlines by announcing a strong quarter and after U.K. regulators blocked their acquisition of Activision-Blizzard. MSFT rallied 7.37%, though ATVI plunged [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":174836,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"cwp_meta_box_check":"No","cwp_rev_product_name":"","cwp_rev_product_image":"","wppr_links":[],"cwp_rev_price":"","wppr_options":[],"wppr_pros":[],"wppr_cons":[],"footnotes":""},"categories":[178],"tags":[],"class_list":["post-322175","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily"],"wppr_data":{"cwp_meta_box_check":"No"},"_links":{"self":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/322175","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/comments?post=322175"}],"version-history":[{"count":0,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/posts\/322175\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media\/174836"}],"wp:attachment":[{"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/media?parent=322175"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/categories?post=322175"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stockchase.com\/discover\/wp-json\/wp\/v2\/tags?post=322175"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}