Dow Jones Today: April 29th, 2022

The Dow Jones today trades at 33,843.34 losing 0.22% intraday. The S&P 500 is up more than 2% in the cash session for its best day since March 9, while the Nasdaq 100 advance surpassed 3%. 

Earnings continued to shatter US equities as the biggest rally in seven weeks faded in recent trading after a disappointing forecast from Amazon.com Inc., which sent the largest ETF following the Nasdaq 100 down by more than 1%. Intel Corp lost 5% on a weak sales forecast, while Apple Inc gained 3% after better-than-expected revenue.

In the last few days, Meta Platforms Inc has jumped 18%, recording its best rally since 2013 since Facebook has added users at higher levels than expected following the announcement of new products. That also included the augmented reality headset called “Oculus Quest”; this has also helped PayPal Holdings Inc to rise by 11%. Qualcomm inc has risen sharply with chip shares soaring, and Twitter’s earnings exceeded expectations but missed revenue estimates due to a slowdown in ad spending. Strong consumer demand was masked by the surprise contraction in economic growth last quarter. This has caused tensions strong among investors who saw it as proof that there could be greater risks if not properly managed, making gains in the coming months less certain.

Earnings risks continued to upset US equities, which were the biggest rally in seven weeks until late trading after a disappointing forecast from Amazon.com Inc. (AMZN stock forecast)and Intel Corp and Apple Inc, which lost or gained with lower / better than expected revenue, respectively.

Elon Musk’s Twitter deal was a disaster for Tesla. When it dropped below its 50-day moving average, the company issued a sell signal, and stock prices fell nearly 11%. Current holders hope the stock will recover after testing its 200-day moving average. Release: Elon Musk’s $ 46 billion acquisition of Twitter absorbed Tesla – the shares took their toll after falling below the 50-day moving average. According to reports, current holders hope the stock can rise to test its 200-day moving averages.