Dow Rises 790.33 Points, Nasdaq Gains 219.07 Points
The major averages closed broadly higher to cap of a strong performance in April. The spotlight remains on technology after mega-cap results reinforced the strength of AI-driven demand, with traders also eyeing Apple's quarterly report after the close.Looking to data, the Commerce Department reported that GDP increased at a 2% annualized pace in Q1, up from 0.5% in the previous quarter but below market expectations of 2.3%, according to a preliminary estimate.Get caught up quickly on the top news and calls moving stocks with these five Top Five lists.1. STOCK NEWS:Alphabetreported, increased its dividend 5%, and increased its FY26 capital expenditure guidanceMeta Platformsreported, with family DAP reaching an average of 3.56B in MarchAmazonreportedand provided upbeat Q2 revenue guidanceMicrosoftreported, with Cloud revenue up 29% year-over-yearCaterpillaralso reportedand guided for low-double digit FY26 revenue growth2. WALL STREET CALLS:JPMorganMetaon lack of AI product visibilityQualcommto Buy from Hold at Summit InsightsEtsyto Neutral from Buy at B. RileyAbbVieto Buy at BofA on durable growthOppenheimeron Palantir, initiated with an Outperform3. AROUND THE WEB:MetaCEO Mark Zuckerberg and AppleCEO Tim Cook are not planning to make offers for the NFL's Seattle Seahawks, refuting earlier reporting, Bloomberg saysStrong demand for Nvidia'sB300 servers in China has doubled its prices, with the equipment costing about $1M each, Reuters reportsApplehas told suppliers that it will maintain its current production share in India rather than expand, after local sites struggled without China-based teams, Nikkei Asia reportsSoftBankplans to create an AI and robotics company called Roze in the U.S. to build data centers and list it as early as 2026, seeking a $100B valuation, Nikkei Asia saysKKRis exploring the sale of Flora Food Group, the business carved out of Unilever, after increased dairy demand has led the company to abandon a plan to make its entire portfolio plant based, FT says4. MOVERS:Everspin Technologiesgained afterfor Mil-Aero MRAM applicationsVistance Networksincreased after, announcing a $100M share repurchase program, and agreeing to sell RUCKUS to Belden for $1.846BBandwidthand Novocurewere higher in New York afterOption Care Healthand Acadia Healthcarewere lower afterWaystarfell afterand providing guidance for FY265. EARNINGS/GUIDANCE:Eli Lillyand raised its guidance for FY26Illinois Tool Works, with CEO commenting on "a solid start to the year"Newmarkand raised its guidance for FY26Melco Resorts, with EPS missing consensusCheck Pointand provided guidance for Q2 and FY26INDEXES:The Dow rose 790.33, or 1.62%, to 49,652.14, the Nasdaq gained 219.07, or 0.89%, to 24,892.31, and the S&P 500 advanced 73.06, or 1.02%, to 7,209.01.
