US Markets Close Higher on Tech Rally and Mixed Data
· Market News · MarketsFN Team
US Stocks Surge on Tech Strength Amid Economic Caution
Tech sector gains, led by strong earnings from companies like AMD and DoorDash, defined Wednesday's US market session, pushing major indices to fresh highs despite mixed economic data and geopolitical concerns. The Nasdaq 100 outperformed with a 2.08% rise, driven by AI and chip stock enthusiasm, even as oil prices plummeted on inventory surprises and Middle East tensions added uncertainty.
🇺🇸 US Session Overview
US equities closed broadly higher, with the S&P 500 advancing 1.46% to 7,365.12, propelled by a tech-fueled rally amid positive earnings and AI investments. The Nasdaq 100 led the charge, climbing 2.08% to 28,599.17, boosted by headlines such as Nvidia's $3.2 billion investment in Corning for AI-focused optical fiber factories and AMD's stock surge after a massive forecast upgrade. The Dow Jones rose 1.24% to 49,910.59, while the Russell 2000 gained 1.47% to 2,886.77, reflecting broader market optimism. Sector dynamics showed strength in technology and consumer discretionary, with DoorDash jumping 14% on upbeat guidance, though warnings from Apollo CEO about potential market corrections and Snap's cautious outlook tempered enthusiasm. Overall, the session highlighted resilience in growth stocks despite economic headwinds.📅 Economic Calendar Highlights
Today's economic releases presented a mixed picture, with several indicators missing forecasts amid global softening. In the US, the USD ADP Nonfarm Employment Change for April came in at 109K, below the 118K forecast and prior 61K, signaling weaker job growth. USD Crude Oil Inventories showed a draw of -2.313M barrels, less than the expected -3.400M, indicating a miss on the anticipated reduction. Overseas, SEK CPI (YoY) unexpectedly fell to -0.1% from a forecast of 0.3% and prior 0.5%, while SEK CPI (MoM) matched the previous at -0.6% but missed the -0.2% estimate. Eurozone data disappointed, with EUR HCOB Eurozone Services PMI at 47.6, below the 47.4 forecast and prior 50.2, and the EUR HCOB Eurozone Composite PMI at 48.8 versus 48.6 expected. Positively, GBP S&P Global Services PMI beat at 52.7 against 52.0 forecast, and CAD Ivey PMI surged to 57.7 from the expected 49.9. These misses in key regions could fuel concerns about slowing growth.📋 Earnings Spotlight
Several companies reported earnings before the market open, with notable performances drawing attention. AMD impressed with a stock roar of 19% following a massive forecast change, as explained by CEO Lisa Su, while DoorDash popped 14% on strong results and upbeat order guidance. Other reporters included Apollo Global Management, which saw its CEO warn of market risks, and Adient, Advantage Solutions, Alcon, Amcor, Astec Industries, Brink's, Biocryst Pharmaceuticals, Bloomin Brands, and Bruker. These results underscored strength in tech and consumer sectors amid broader market volatility.💱 FX & Commodities
The US dollar weakened overall, with USD/JPY declining 0.52% to 156.37 and USD/CHF dropping 0.65% to 0.7789, as softer economic data pressured the greenback. Conversely, EUR/USD rose 0.49% to 1.175 and AUD/USD climbed 0.99% to 0.7239, reflecting risk-on sentiment from tech gains. In commodities, Gold (XAU/USD) surged 3.21% to 4,702.20 amid safe-haven demand due to Middle East tensions, while Silver (XAG/USD) jumped 6.68% to 77.99. Energy markets saw sharp declines, with Crude Oil (WTI) falling 6.63% to 95.49 and Brent Oil dropping 7.52% to 101.61, driven by unexpected inventory builds and geopolitical risks. Bitcoin edged up 1.38% to 80,927.05, supported by crypto market optimism. As Asian markets prepare to open, investors will eye potential volatility from escalating Middle East conflicts and upcoming US jobs data, which could influence Federal Reserve decisions. With Nvidia's investments and Elon Musk's lawsuit against OpenAI in the spotlight, tomorrow's session may focus on tech earnings fallout and oil supply disruptions. Overall, the path ahead hinges on resolving these uncertainties to sustain the recent rally.🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,365.12 | ▲ +105.90 | ▲ +1.46% |
| Nasdaq 100 | 28,599.17 | ▲ +584.11 | ▲ +2.08% |
| Dow Jones | 49,910.59 | ▲ +612.34 | ▲ +1.24% |
| Russell 2000 | 2,886.77 | ▲ +41.77 | ▲ +1.47% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.175 | ▲ +0.49% |
| GBP/USD | 1.3592 | ▲ +0.45% |
| USD/JPY | 156.37 | ▼ -0.52% |
| AUD/USD | 0.7239 | ▲ +0.99% |
| USD/CHF | 0.7789 | ▼ -0.65% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,702.20 | ▲ +3.21% |
| Silver (XAG/USD) | 77.99 | ▲ +6.68% |
| Crude Oil (WTI) | 95.49 | ▼ -6.63% |
| Brent Oil | 101.61 | ▼ -7.52% |
| Natural Gas | 2.72 | ▼ -2.58% |
| Bitcoin | 80,927.05 | ▲ +1.38% |
| Ethereum | 2,361.18 | ▲ +0.63% |
📋 Today's Earnings
| Ticker | Company | Timing | Market Cap |
|---|---|---|---|
| ADNT | Adient plc | BMO | 1750000000.0 |
| ADV | Advantage Solutions Inc | BMO | 571680000.0 |
| ALC | Alcon Inc | BMO | 31880000000.0 |
| AMCR | Amcor Plc | BMO | 18580000000.0 |
| APO | Apollo Global Management Inc | BMO | 74680000000.0 |
| ASTE | Astec Industries Inc | BMO | 1230000000.0 |
| BCO | Brink's Co | BMO | 4480000000.0 |
| BCRX | Biocryst Pharmaceuticals Inc | BMO | 2240000000.0 |
| BLMN | Bloomin Brands Inc | BMO | 692050000.0 |
| BRKR | Bruker Corp | BMO | 6440000000.0 |
| BVS | Bioventus Inc | BMO | 911000000.0 |
| BWA | BorgWarner Inc | BMO | 12240000000.0 |
| CART | Maplebear Inc | BMO | 9510000000.0 |
| CCO | Clear Channel Outdoor Holdings Inc | BMO | 1210000000.0 |
| CDW | CDW Corp | BMO | 13950000000.0 |
| CLH | Clean Harbors Inc | BMO | 15350000000.0 |
| COR | Cencora Inc | BMO | 49170000000.0 |
| CRI | Carters Inc | BMO | 1370000000.0 |
| CRTO | Criteo S.A ADR | BMO | 811240000.0 |
| CVE | Cenovus Energy Inc | BMO | 54660000000.0 |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 12:15 | USD | ADP Nonfarm Employment Change (Apr) | 🔴🔴🔴 | 109K | 118K | 61K |
| 14:30 | USD | Crude Oil Inventories | 🔴🔴🔴 | -2.313M | -3.400M | -6.234M |
| 01:45 | CNY | RatingDog Services PMI (Apr) | 🟡🟡 | 52.6 | 52.0 | 52.1 |
| 06:00 | SEK | CPI (YoY) (Apr) | 🟡🟡 | -0.1% | 0.3% | 0.5% |
| 06:00 | SEK | CPI (MoM) (Apr) | 🟡🟡 | -0.6% | -0.2% | -0.6% |
| 06:00 | RUB | S&P Global Services PMI (Apr) | 🟡🟡 | 49.7 | 49.5 | |
| 07:15 | EUR | HCOB Spain Services PMI (Apr) | 🟡🟡 | 47.9 | 51.9 | 53.3 |
| 07:45 | EUR | HCOB Italy Services PMI (Apr) | 🟡🟡 | 49.8 | 47.9 | 48.8 |
| 07:50 | EUR | HCOB France Services PMI (Apr) | 🟡🟡 | 46.5 | 46.5 | 48.8 |
| 07:55 | EUR | HCOB Germany Services PMI (Apr) | 🟡🟡 | 46.9 | 46.9 | 50.9 |
| 08:00 | EUR | HCOB Eurozone Composite PMI (Apr) | 🟡🟡 | 48.8 | 48.6 | 50.7 |
| 08:00 | EUR | HCOB Eurozone Services PMI (Apr) | 🟡🟡 | 47.6 | 47.4 | 50.2 |
| 08:30 | GBP | S&P Global Composite PMI (Apr) | 🟡🟡 | 52.6 | 52.0 | 50.3 |
| 08:30 | GBP | S&P Global Services PMI (Apr) | 🟡🟡 | 52.7 | 52.0 | 50.5 |
| 12:54 | PLN | Interest Rate Decision (May) | 🟡🟡 | 3.75% | 3.75% | 3.75% |
| 14:00 | CAD | Ivey PMI (Apr) | 🟡🟡 | 57.7 | 49.9 | 49.7 |
| 14:30 | USD | Cushing Crude Oil Inventories | 🟡🟡 | -0.648M | -0.796M | |
| 07:30 | EUR | German Buba Vice President Buch Speaks | 🟡🟡 | — | ||
| 09:45 | EUR | German Buba Vice President Buch Speaks | 🟡🟡 | — | ||
| 15:30 | EUR | ECB's Lane Speaks | 🟡🟡 | — | ||
| 20:15 | CAD | BoC Gov Macklem Speaks | 🟡🟡 | — | ||
| 23:50 | JPY | Monetary Policy Meeting Minutes | 🟡🟡 | — |
Report published: May 06, 2026 — 22:43 CET
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