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US stocks ended mostly higher on Friday, with the S&P 500 and Nasdaq 100 notching fresh record highs. The gains were fueled by growing enthusiasm for the AI industry and a strong earnings report from tech giant Apple.
The S&P 500 advanced 21pts (+0.29%) to 7230 and the Nasdaq 100 rose 258pts (+0.94%) to 27710. On the other hand, the Dow fell 152pts (-0.31%) to 49499.
On the sector front, the outperforming sectors were Technology (XLK), Consumer Discretionary (XLY), and Communication Services (XLC) while Energy (XLE), Industrials (XLI), and Utilities (XLU) underperformed the most.
For the week, indices ended the week on a positive note, with the S&P 500 up 0.91%, the Nasdaq 100 rising 1.49%, and the Dow adding 0.55%. Both the S&P 500 and Nasdaq 100 have now posted gains for five consecutive weeks. The Energy (XLE) and Consumer Staples (XLP) sectors led the way, while Materials (XLB) lagged behind.
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U.S. Economic Developments: |
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The April ISM Manufacturing PMI reading came in at 52.7, slightly above the forecasted 52.5, and held steady from March's level.
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Apple (AAPL) gained 3.24% as quarterly financial figures slightly beat estimates. However, iPhone sales missed expectations.
Microsoft (MSFT) rose 1.63% as the stock was maintained at "Hold" by Stifel.
Tesla (TSLA) climbed 2.41% as vehicle registrations continued to rebound in several European markets, including France, Denmark, and the Netherlands.
Eli Lilly (LLY) traded 3.07% higher as it was maintained at "Overweight" by Cantor Fitzgerald. On Thursday, the FDA said it may tighten limits on pharmacies that make compounded versions of popular GLP-1 weight-loss drugs. Novo Nordisk (NVO) also rose 3.98% on the news.
Roblox (RBLX) tanked 18.33% after cutting full-year bookings guidance.
Sandisk (SNDK) jumped 8.25% after posting quarterly financial figures above expectations. The stock is up more than 380% year-to-date.
Veeva Systems (VEEV) traded 10.02% higher as the company will join the S&P 500 index on May 7.
Atlassian (TEAM) soared 29.58% after lifting full-year sales guidance.
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At the European close, the major indices in the region finished mostly higher. Germany's Dax rose 337pts (+1.41%) to 24292 and France's Cac 40 gained 42pts (+0.53%) to 8114. However, the U.K.'s FTSE 100 fell 14pts (-0.14%) to 10363.
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Global Macro, FX & Commodities: |
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Rates & Risk Sentiment:
The VIX rose 0.1pts (+0.59%) to 16.99 and the US 10 year yield fell to 4.374%.
Precious Metals & Crude:
In the commodities market, Gold fell 8.71 dollars (-0.19%) to 4612.88 while Silver rose 1.7 dollars (+2.31%) to 75.44. WTI Crude Oil slipped 2.56 dollars (-2.44%) to 102.51.
The Dollar & Majors:
The dollar index rose 0.17pts (+0.17%) to 98.222.
EUR/USD dropped 13pips (-0.11%) to 1.1717.
GBP/USD slipped 31pips (-0.23%) to 1.3569.
USD/JPY gained 47pips (+0.3%) to 157.04.
USD/CHF advanced 4pips (+0.05%) to 0.7815.
AUD/USD increased 4pips (+0.06%) to 0.7203.
USD/CAD climbed 12pips (+0.09%) to 1.359.
Digital Assets:
Cryptocurrencies were up on Friday, with Bitcoin rising 1698 dollars (+2.22%) to 78162 and Ethereum climbing 35 dollars (+1.57%) to 2299.
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