01 Stock Market
As of Apr 24, U.S. stock index futures performed as follows: S&P 500 contracts inched higher on solid tech earnings, Dow futures hovered near flat as defensives lagged, while Nasdaq 100 futures outperformed with a strong upswing thanks to renewed enthusiasm for artificial-intelligence chipmakers. The divergence reflects investors rotating back into high-growth technology names after a week of mixed macro signals and moderating Treasury yields.
Notable Stock Movers: INTC up 27.85% at $85.38 after projecting second-quarter sales well above consensus and highlighting surging AI-server demand. AMD up 11.55% at $340.6, tracking peer strength and optimism ahead of its own earnings next week. TSM up 3.45% at $395.86 following upbeat March-quarter revenue and capacity expansion plans. Specialty chipmaker MXL jumped 33.6% to $31.30 in early quotes after posting a 43% revenue surge and bullish guidance. Leveraged fund SOXL rose 11.96% at $126.26, while bearish counterpart SOXS fell 11.85% at $13.84, underscoring the market’s pronounced tilt toward semiconductors.
Beyond chips, infrastructure names such as DELL up 0.88% at $214.00 and hyperscale beneficiary MSFT up 1.14% at $420.51 firmed on expected cloud spending, whereas select inverse tech ETFs like SQQQ fell notably, indicating lower demand for downside hedges. Traders will watch whether the tech-led rebound broadens to cyclicals once key macro data and additional earnings—including consumer staples and industrials—hit later in the week.
02 Other Markets
• 10-year U.S. Treasury yield fell 0.31%, to 4.31%.
• U.S. Dollar Index fell 0.20% to 98.59.
• WTI crude oil futures fell 1.30% to 94.60 USD/barrel; COMEX gold futures fell 0.04% to 4722.10 USD/ounce.
03 Key News
1. Intel projected second-quarter revenue well above analysts’ range, signalling robust AI-server CPU demand. Management cited cloud providers’ shift toward advanced processors and announced price increases to fund capacity, sending shares sharply higher in pre-market trade and adding over $60 billion to its market value.
2. MaxLinear topped first-quarter estimates and issued guidance far ahead of consensus, driven by optical-connect demand from hyperscale data centers. Revenue surged 43% year over year, turning the firm’s infrastructure segment into its largest contributor and sparking a more than 30% jump in early trading.
3. Meta Platforms unveiled plans to cut roughly 8,000 positions and introduce AI-based workflow monitoring tools to accelerate its “AI-native” transition. Executives said ultraflat teams and automated agents will streamline operations, though internal memos revealed employee unease about job security and data-tracking measures.
4. Oracle moved ahead with raising about $50 billion in new debt and equity to fund massive OpenAI-linked data-center projects, testing lending limits on Wall Street. Banks faced concentration caps when syndicating nearly $70 billion of construction loans for multi-state facilities; Oracle says all sites remain on schedule.
5. The White House extended a shipping waiver to ease global oil-supply tightness, temporarily relaxing maritime rules for energy transport. The decision aims to stabilize fuel markets amid Middle East disruptions and offers modest relief to refiners and transportation firms facing higher input costs.
6. Pilbara Minerals nearly doubled quarterly lithium output and reaffirmed full-year targets, citing broadening EV and stationary-storage demand. Recovery rates at its Pilgangoora mine hit 75%, while management noted rising inquiries from global battery makers, supporting a pre-market bid for lithium-linked equities.
7. Suncorp Group secured a five-year AUD 2.4 billion reinsurance program, enhancing its catastrophe coverage ahead of the Australian storm season. The agreement provides up to AUD 800 million in annual protection, strengthening the insurer’s capital resilience and prompting investor approval.
8. China-based AI firm DeepSeek previewed its forthcoming “V4” large-language model, offering pro and flash versions to challenge leading global providers. The upgrade follows last year’s viral V3 success and underscores intensifying competition within the generative-AI landscape.
9. Over 100 cryptocurrency firms petitioned the U.S. Senate to advance the Digital Asset Market Clarity Act, seeking a clearer regulatory framework. Industry groups argue that defined rules will spur innovation and safeguard investors, pressuring lawmakers to prioritize digital-asset legislation.
10. Australian miner Pilbara Minerals received up to AUD 38.1 million in government renewable-energy funding to support its mid-stream lithium project. The grant from Australia’s Renewable Energy Agency will offset operating costs during pilot validation, bolstering the company’s downstream ambitions amid strengthening battery-supply-chain policies.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: For informational purposes only; not investment advice.