Wednesday, April 29, Market Recap

Good Evening,

Today, April 29…

The DJIA rose 0.70%
The S&P 500 was up 0.70%
The Nasdaq Composite added 0.20%

Tech led the market today.

General Market Review

Tech

Bond rates fell as big tech had gains. Facebook reported better-than-expected earnings of $3.30 and was up about 7%. Apple had many upgrades as it reported positive first quarter results due to sales growth in iPhones and service. iPhone revenues beat expectations by 17% and the stock only fell 0.07%.

Financials

Bank and insurance companies were pushed higher due to earnings. Cincinnati Financial Corporation topped estimates for first quarter results and was up 4.44%.

Consumer Discretionary

Lyft and Uber Technologies fell 9.94% and 6.01%, respectively after the Labor Secretary Marty Walsh said that drivers in the US would be classified as employees.

Charts by TradingView