S&P 500, NASDAQ Close at New Records Ahead Of Major Tech Earnings

April 27, 2021 08:09 AM AEST | By Team Kalkine Media
 S&P 500, NASDAQ Close at New Records Ahead Of Major Tech Earnings
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

The U.S. stock market benchmark indexes S&P 500 and NASDAQ Composite Index ended higher on Monday, April 26, marking new closing records ahead of the major earnings. S&P 500 gained 7 points and tech-savvy NASDAQ surged 122 points.

However, the Dow Jones Industrial Average lost 62 points on Monday. The decline in consumer and energy stocks offset growth in the financials and industrial stocks on the index.

The S&P 500 rallied 0.18 percent to 4,187.62 while NASDAQ Composite Index rose 0.87 percent to 14,138.78. The Dow Jones was down 0.18 percent to 33,981.57. The small-cap Russell 2000 grew 1.15 percent to 2,298.01.

Tesla shares rose 1.21 percent on Monday ahead of its earnings. The U.S electric carmaker is scheduled to report its first-quarter earnings today after the market close.

Major technology companies including Apple, Microsoft, Amazon, Alphabet, Facebook and Qualcomm will also report their first quarter results this week.

A quarter of S&P 500 companies have already announced their March quarter results and most of them reportedly exceeded the street estimates.

@Kalkine 2021

Top Gainers

Top performers on S&P 500 were Otis Worldwide Corp (7.00%), Freeport-McMoRan Inc. (6.87%), Albemarle Corp. (5.79%) and Western Digital Corp (4.91%).

Reviva Pharmaceuticals Holdings, Inc. (104.23%), MicroVision Inc (47.13%), Proofpoint Inc. (31.05%) and Naked Brand Group Ltd (29.12%) were top performers on NASDAQ.

On Dow Jones, American Express Co (4.16%), Boeing Co (1.28%), Goldman Sachs Group Inc. (1.23%) and Nike Inc. (1.08%) gained the most.

Top Losers

Top laggards on S&P 500 were ETSY Inc (4.39%), Mckesson Corp (2.28%), Kroger Co (2.17%) and Masco Corp (2.08%).

Dorman Products Inc (11.07%), Sypris Solutions Inc (9.62%), Idex Biometrics ASA (8.94%) and BBQ Holdings Inc (8.46%) were among the top losers on NASDAQ.

On Dow Jones, Procter & Gamble Co (2.00%), Coca-Cola Co (1.49%), Walmart Inc. (1.42%) and Travelers Companies Inc (1.34%) were laggards.

Image Source: Refinitiv, NASDAQ Composite Index year to date chart

Volume Movers

Top volume movers were Ocugen Inc (32.06M), MicroVision Inc (31.43M), Sundial Growers Inc (24.48M), Naked Brand Group Ltd (21.49M), Apple Inc (15.33M), General Electric Co (15.20M), Castor Maritime Inc (13.48M), Advanced Micro Devices Inc (11.48M), Advanced Micro Devices Inc (11.47M), Intel Corp. (10.97M), Reviva Pharmaceuticals Holdings, Inc. (10.93M) and ViacomCBS Inc (10.03M).        

Futures & Commodities

Gold futures were up 0.19 percent to US$1,781.15 per ounce on Monday. Silver rose 0.77 percent to US$ 26.277 per ounce and copper grew 2.54 percent to US$ 4.4512.

Brent oil futures remained flat at US$65.17 per barrel, while WTI crude decreased 0.27 percent to US$61.97.

Bond Market

The 30-year Treasury bond yields decreased 0.29 percent on Monday to 2.245 while the 10-year bond yields were up 0.09 percent to 1.5684.

US Dollar Futures Index was slightly down 0.04 percent to US$90.805 on April 26.


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