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Nasdaq futures extended gains to 0.7%, boosted by Intel (INTC.O) leading chip stocks with a 20% gain in after-hours trading.Japans corporate services price index rose 1.2% month-on-month in March, compared with 0.2% in the previous month.Japans corporate services price index rose 3.1% year-on-year in March, below the expected 3.00% and the previous reading of 2.70%.April 24th - Data released on Friday showed that Japans core consumer price index (CPI) slowed for the second consecutive month to below the central banks 2% target in March, as government fuel subsidies offset price pressures from the energy shock triggered by the conflict in Iran. Analysts expect inflation to accelerate back above the Bank of Japans target in the coming months as businesses begin to pass on rising fuel costs from the Middle East conflict. The core CPI, excluding the impact of volatile fresh food costs, rose 1.8% year-on-year in March, in line with the market median forecast. This followed a 1.6% increase in February. Another index, excluding fresh food and fuel (a better indicator closely monitored by the Bank of Japan as a measure of demand-driven price changes), rose 2.4% year-on-year in March, compared to a 2.5% increase in February.On April 24th, according to foreign media reports, most soybean oil futures contracts on the Chicago Board of Trade (CBOT) closed higher on Thursday, with only the May contract slightly lower. The benchmark contract closed up 0.1% on the day, mainly reflecting the surge in international crude oil prices and improved US soybean oil sales. Tensions in the Middle East further boosted international crude oil futures, which lifted sentiment in the Chicago soybean oil market. The US Department of Agricultures weekly export sales report showed that for the week ending April 16, 2026, net sales of US soybean oil for the 2025/26 marketing year totaled 1,500 tons, a 34% increase from the previous week and significantly higher than the four-week average.

S&P 500 Rebounds From Session Lows As Energy Stocks Rally

Jimmy Khan

Nov 04, 2022 16:57

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As major tech companies hit new lows, the NASDAQ Composite seeks to settle below the 10,700 mark.

Big Tech Stocks Continue to Be Under Stress

As traders responded to the ISM Non-Manufacturing PMI data, which fell short of analyst forecasts, the S&P 500 recovered from session lows.


Energy stocks took the lead in the recovery from session lows today due to robust support. In today's trading session, ConocoPhillips, APA Corporation, and Marathon Oil all saw gains of 6–7%.


ConocoPhillips had significant price appreciation after exceeding analyst expectations, boosting the dividend, and expanding its share repurchase program by $20 billion.


Despite missing analyst profit expectations, Etsy increased by 14%. The firm gave a positive prognosis for the last quarter of this year, which caused the stock to rise.


Booking increased by 5% with the release of the $6.05 billion in sales and the higher-than-expected adjusted profits of $53.03 per share.


Fidelity National Information Services, which was down 25% following the publication of its quarterly report, was under a lot of pressure due to weak guidance.


Leading tech companies including Apple, Alphabet, and Amazon had declines of 2% to 3%. Meta Platforms, meanwhile, tested fresh lows at $88.50.


If the mega cap companies continue to experience pressure, the whole market will not be able to develop a sustained upward trend. Traders are nonetheless concerned that rising interest rates may harm the bottom lines of powerful corporations.


While the IT industry leaders seemed unstoppable during the coronavirus crisis, their stocks were under a lot of pressure from rising interest rates, a stronger currency, and a slowing global economy. Traders should continue to watch the large tech stocks' movements for hints regarding the S&P 500's future course.

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