The S&P 500 Index ($SPX) (SPY) this morning is up +1.04%, the Dow Jones Industrials Index ($DOWI) (DIA) is up +0.35%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +1.55%. 

US stock indexes this morning are moderately higher, with the S&P 500 climbing to a 1-1/2 week high and the Nasdaq 100 posting a 1-week high.  Blockbuster earnings results from Alphabet and Microsoft are boosting the overall market. Alphabet is up more than +10% after reporting stronger-than-expected Q1 revenue.  Also, Microsoft is up more than +2% after reporting Q3 revenue above consensus. In addition, chip stocks are rallying today after megacap tech companies this week, including Meta Platforms, Alphabet, and Microsoft, said they will continue to boost investment in AI, which should increase demand for companies making AI chips. 

Stock indexes maintained their gains despite today’s US economic news that showed Mar personal spending and the Mar core PCE deflator rose more than expected, hawkish fact... Read more