US stocks rebound on tech earnings, London hits new record
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Apr 26 2024
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Source: Yahoo Finance
- Market Performance: London's FTSE 100 hit record highs for four consecutive sessions, while US stocks rebounded due to strong tech earnings and takeover bids for UK companies.
- Tech Sector Boost: Microsoft and Google's parent company, Alphabet, reported better-than-expected earnings, leading to a positive sentiment in the tech sector.
- Inflation Concerns: Despite an increase in the PCE price index, which rose more than expected at an annual rate of 2.7 percent in March, interest rate cuts this summer are less likely.
- Merger and Acquisition Activity: Various takeover bids and merger activities, including BHP's offer to acquire Anglo American and Darktrace accepting a $5.3-billion takeover offer from Thoma Bravo.
- Global Market Performance: Major equity markets in Asia rose, with the yen hitting a 34-year low after the Bank of Japan maintained interest rates, sparking speculation of intervention.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
