US stock futures held steady after Google parent Alphabet reported strong earnings results, and Wall Street saw its third day of gains on renewed hope of trade deals.
Since 1945, the indicator has only flashed 18 times, with the most recent signal occurring in November 2023.
Foreign investors have continued to buy into US stock ETFs since the market peaked in February, bucking the narrative of a "sell America" investing trend.
Alphabet, Google's parent company, reported Q1 earnings Thursday. Results majorly beat analyst expectations, sending the stock soaring after hours.
Analysts say the risk of a U.S. recession has increased this year, but investors are holding out hope America can weather the storm of President Trump’s tariffs.
TRADING DAY Making sense of the forces driving global markets. By Alden Bentley, Americas Finance and Markets Breaking News Editor. Jamie is away so I'll provide a round-up of today's main market moves below.
Financial software provider SS&C Technologies (NASDAQ:SSNC) reported Q1 CY2025 results beating Wall Street’s revenue expectations, with sales up 5.4% year on year to $1.51 billion. On the other hand, next quarter’s revenue guidance of $1.51 billion was less impressive, coming in 1.4% below analysts’ estimates. Its non-GAAP profit of $1.44 per share was 2.4% above analysts’ consensus estimates.
Transportation and logistics solutions provider Universal Logistics (NASDAQ:ULH) fell short of the market’s revenue expectations in Q1 CY2025, with sales falling 22.3% year on year to $382.4 million. Its GAAP profit of $0.23 per share was 52.1% below analysts’ consensus estimates.
The S&P 500 jumped 2.0% on Thursday, April 24, with surging tech stocks and hopes for thawing trade relationships helping drive a third consecutive day of gains.
Online advertising giant Alphabet (NASDAQ:GOOGL) announced better-than-expected revenue in Q1 CY2025, with sales up 12% year on year to $90.23 billion. Its GAAP profit of $2.81 per share was 40.1% above analysts’ consensus estimates.