Market Update
Earnings Optimism Supports S&P 500 and Nasdaq at Record Highs
Barry Adams
23 Apr, 2026
New York City
Stock market indexes in New York edged lower after scaling new record highs in the previous session.
The S&P 500 Index decreased 0.4%, and the tech-focused Nasdaq Composite declined 0.6% as investors reviewed the latest batch of earnings.
Earnings so far have surpassed investor expectations, and investors reacted to the latest results from IBM, Tesla, ServiceNow.
Earlier in the week, RTX, Boeing, General Electric, Danaher, 3M, and Five Below were among leading corporations to release their results.
Later in the day, American Express, American Airlines, Blackstone, and Honeywell are scheduled to release their quarterly updates.
The price of a barrel of crude oil in New York jumped 1.4% to $94.45 amid lingering tensions in the Persian Gulf and a growing speculation that the U.S. is preparing for a ground invasion of Iran as early as next month.
Stock Movers
IBM dropped 7 % to $233.19 after the technology company reported better than expected quarterly results, but the company retained its annual outlook supporting worries of slower revenue growth.
ServiceNow plunged 13 % to $89.25 after the cloud computing services provider reported weaker-than-expected subscription revenue growth.
Moreover, the company's full-year subscription revenue growth estimate fell short of market expectations.
Tesla Inc. declined 3,3 % after the electric vehicle maker reported adjusted earnings per share of 41 cents for its latest quarter.
Revenue rose 16% to $22.4 billion, net income advanced 17% to $477 million from $409 million, and diluted earnings per share edged up to 13 cents from 12 cents a year ago.
The quarterly performance was driven by higher automotive unit sales and a rise in service-related revenue.
Nokia Oyj jumped 11 % to $10.98 after the technology company reported its first quarter results.
Revenue increased 2% to Є4.5 billion from Є4.4 billion, net income swung to a profit of Є87 million from a loss of Є60 million, and diluted income per share swung to a profit of 2 cents from a loss of 1 cent.
On a comparable basis, net income advanced to Є295 million from Є153 million, and diluted earnings per share rose to 5 cents from 3 cents a year ago.
L'Oréal soared 8,5 % to €372,75 after the cosmetic company reported its first quarter sales results.
Sales in the first quarter rose 3.6% to €12.15 billion, and advanced 7.6% on a comparable basis, driven by a broad advance across all regions.
Ecommerce sales rose by double digits in emerging markets and Europe.
S&P 500 and Nasdaq Hovered at Record Highs Supported by Earnings Optimism
Barry Adams
23 Apr, 2026
New York City
Stock market indexes in New York edged lower after scaling new record highs in the previous session.
The S&P 500 Index decreased 0.4%, and the tech-focused Nasdaq Composite declined 0.6% as investors reviewed the latest batch of earnings.
Earnings so far have surpassed investor expectations, and investors reacted to the latest results from IBM, Tesla, ServiceNow.
Earlier in the week, RTX, Boeing, General Electric, Danaher, 3M, and Five Below were among leading corporations to release their results.
Later in the day, American Express, American Airlines, Blackstone, and Honeywell are scheduled to release their quarterly updates.
The price of a barrel of crude oil in New York jumped 1.4% to $94.45 amid lingering tensions in the Persian Gulf and a growing speculation that the U.S. is preparing for a ground invasion of Iran as early as next month.
Stock Movers
IBM dropped 7 % to $233.19 after the technology company reported better than expected quarterly results, but the company retained its annual outlook supporting worries of slower revenue growth.
ServiceNow plunged 13 % to $89.25 after the cloud computing services provider reported weaker-than-expected subscription revenue growth.
Moreover, the company's full-year subscription revenue growth estimate fell short of market expectations.
Tesla Inc. declined 3,3 % after the electric vehicle maker reported adjusted earnings per share of 41 cents for its latest quarter.
Revenue rose 16% to $22.4 billion, net income advanced 17% to $477 million from $409 million, and diluted earnings per share edged up to 13 cents from 12 cents a year ago.
The quarterly performance was driven by higher automotive unit sales and a rise in service-related revenue.
Nokia Oyj jumped 11 % to $10.98 after the technology company reported its first quarter results.
Revenue increased 2% to Є4.5 billion from Є4.4 billion, net income swung to a profit of Є87 million from a loss of Є60 million, and diluted income per share swung to a profit of 2 cents from a loss of 1 cent.
On a comparable basis, net income advanced to Є295 million from Є153 million, and diluted earnings per share rose to 5 cents from 3 cents a year ago.
L'Oréal soared 8,5 % to €372,75 after the cosmetic company reported its first quarter sales results.
Sales in the first quarter rose 3.6% to €12.15 billion, and advanced 7.6% on a comparable basis, driven by a broad advance across all regions.
Ecommerce sales rose by double digits in emerging markets and Europe.
Persian Gulf Tensions Keep Japan’s Stocks Under Pressure
Akira Ito
23 Apr, 2026
Tokyo
Japan's benchmark indexes dropped as investors digested rising possibilities of a prolonged conflict in the Persian Gulf.
The Nikkei 225 Stock Average fell about 0.9%, and the broader Topix decreased 0.8% amid lingering uncertainty over energy product shipments from the Persian Gulf.
Iran's multiple strikes to oil producing facilities is expected to keep production curtailed for several months.
Crude oil and natural productions in Saudi Arabia, Kuwait, Bahrain, Qatar, and the UAE is likely to remain depressed for as long as two years.
In addition, shipments through the Persian Gulf region are likely to remain disrupted at least for several months as the U.S. and Iran talks failed to produce an outcome.
The Strait of Hormuz remains effectively closed under dual-blockade of shipments from Gulf nations and Iran.
The longer the conflict in the Persian Gulf persists, energy prices are likely to remain closer to $100 a barrel in the international markets, impacting the economy of Japan and other imported-energy dependent nations.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.9% to 59,063.94, and the broader Topix fell 0.8% to 3,715.0.
AI-linked and semiconductor equipment makers closed down following the weakness in tech stocks.
Tokyo Electron, SoftBank Group, Lasertec, and Disco Corp. fell between 2% and 5%.
Nippon Yusen, Mitsui OSK Lines, and Kawasaki Kisen Kaisha declined between 1% and 3%.
Persian Gulf Tensions Keep Japan’s Stocks Under Pressure
Akira Ito
23 Apr, 2026
Tokyo
Japan's benchmark indexes dropped as investors digested rising possibilities of a prolonged conflict in the Persian Gulf.
The Nikkei 225 Stock Average fell about 0.9%, and the broader Topix decreased 0.8% amid lingering uncertainty over energy product shipments from the Persian Gulf.
Iran's multiple strikes to oil producing facilities is expected to keep production curtailed for several months.
Crude oil and natural productions in Saudi Arabia, Kuwait, Bahrain, Qatar, and the UAE is likely to remain depressed for as long as two years.
In addition, shipments through the Persian Gulf region are likely to remain disrupted at least for several months as the U.S. and Iran talks failed to produce an outcome.
The Strait of Hormuz remains effectively closed under dual-blockade of shipments from Gulf nations and Iran.
The longer the conflict in the Persian Gulf persists, energy prices are likely to remain closer to $100 a barrel in the international markets, impacting the economy of Japan and other imported-energy dependent nations.
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.9% to 59,063.94, and the broader Topix fell 0.8% to 3,715.0.
AI-linked and semiconductor equipment makers closed down following the weakness in tech stocks.
Tokyo Electron, SoftBank Group, Lasertec, and Disco Corp. fell between 2% and 5%.
Nippon Yusen, Mitsui OSK Lines, and Kawasaki Kisen Kaisha declined between 1% and 3%.
Japan 04
Akira Ito
23 Apr, 2026
Tokyo
Japan's benchmark indexes dropped as investors digested rising possibilities of a prolonged conflict in the Persian Gulf.
The Nikkei 225 Stock Average fell about 0.9%, and the broader Topix decreased 0.8% amid lingering uncertainty over energy product shipments from the Persian Gulf.
Iran's multiple strikes to oil producing facilities is expected to keep production curtailed for several months.
Crude oil and natural productions in Saudi Arabia, Kuwait, Bahrain, Qatar, and the UAE is likely to remain depressed for as long as two years.
In addition, shipments through the Persian Gulf region are likely to remain disrupted at least for several months as the U.S. and Iran talks failed to produce an outcome.
The longer the conflict in the Persian Gulf persists, energy prices are likely to remain closer to $100 a barrel in the international markets, impacting the economy of Japan
Japan Indexes and Stocks
The Nikkei 225 Stock Average declined 0.9% to 59,063.94, and the broader Topix fell 0.8% to 3,715.0.
Persistent Uncertainty Over Hormuz Shipments Dragged Down China Markets
Li Chen
23 Apr, 2026
Hong Kong
Stocks in China and Asia lost momentum amid persistent uncertainty in the Persian Gulf.
The Hang Seng Index decreased 1.1%, and the mainland-focused CSI 300 Index declined 0.8% as investors grappled with a lack of fresh capital.
Benchmark indexes in Japan, India, and South Korea traded down as investors estimated crude oil prices are likely to be elevated in the near future as the conflict in the Middle East drags on.
The manufacturing-driven economies in Asia are paying a steep price as the supply of crude oil, natural gas, and fertilizers remains disrupted for the second month in a row.
Moreover, the sharp jump in jet fuel prices is impacting the cost of air travel for passengers and goods.
Closer to home, investors looked ahead to the four-day session of the National People's Congress Standing Committee ending on April 30, where lawmakers are scheduled to review Prison Law and other legislative changes.
China Indexes and Stocks
The Hang Seng Index decreased 1.1% to 25,870.37, and the mainland-focused CSI 300 Index fell 0.8% to 4,761.57.
Alibaba Group, Tencent Holdings, and Baidu Inc. declined between 1% and 3%.
SMIC, Hua Hong Semiconductor, and Shanghai Fudan Microelectronics declined between 2% and 7%.
Persistent Uncertainty Over Hormuz Shipments Dragged Down China Markets
Li Chen
23 Apr, 2026
Hong Kong
Stocks in China and Asia lost momentum amid persistent uncertainty in the Persian Gulf.
The Hang Seng Index decreased 1.1%, and the mainland-focused CSI 300 Index declined 0.8% as investors grappled with a lack of fresh capital.
Benchmark indexes in Japan, India, and South Korea traded down as investors estimated crude oil prices are likely to be elevated in the near future as the conflict in the Middle East drags on.
The manufacturing-driven economies in Asia are paying a steep price as the supply of crude oil, natural gas, and fertilizers remains disrupted for the second month in a row.
Moreover, the sharp jump in jet fuel prices is impacting the cost of air travel for passengers and goods.
Closer to home, investors looked ahead to the four-day session of the National People's Congress Standing Committee ending on April 30, where lawmakers are scheduled to review Prison Law and other legislative changes.
China Indexes and Stocks
The Hang Seng Index decreased 1.1% to 25,870.37, and the mainland-focused CSI 300 Index fell 0.8% to 4,761.57.
Alibaba Group, Tencent Holdings, and Baidu Inc. declined between 1% and 3%.
SMIC, Hua Hong Semiconductor, and Shanghai Fudan Microelectronics declined between 2% and 7%.
U.S. Stocks Power Ahead Overlooking Brewing Tensions in the Middle East
Barry Adams
22 Apr, 2026
New York City
Stocks in New York advanced, and investors overlooked escalating tensions in the Persian Gulf.
The S&P 500 Index edged up 0.5%, and the tech-focused Nasdaq Composite advanced 0.7% as investors remained focused on the latest flow of quarterly results.
Crude oil prices rose 1% to $90.53 a barrel amid growing speculation in the Middle East that the U.S. is amassing naval assets in the Persian Gulf under the pretext of ceasefire negotiations.
Oil traders in London and Abu Dhabi are speculating a surge in price of more than 50% in the event the U.S. carries out the widely anticipated ground invasion.
U.S. Movers
General Electric declined 5% to $286.73 despite the aerospace company reporting strong sales in the first quarter.
Revenue increased 25% to $12.3 billion from $9.9 billion, net income decreased to $2.19 billion from $2.24 billion, and diluted earnings per share were unchanged at $1.83.
The aerospace company held out for 2026 diluted earnings to range between $7.10 and $7.40 and cash flow to fall between $8.0 billion and $8.8 billion.
Best Buy Company declined 4.2% to $63.85, and the company named an insider, Jason Bonfig, as the next chief executive, replacing Corie Barry in late October.
U.S. Stocks Power Ahead Overlooking Brewing Tensions in the Middle East
Barry Adams
22 Apr, 2026
New York City
Stocks in New York advanced, and investors overlooked escalating tensions in the Persian Gulf.
The S&P 500 Index edged up 0.5%, and the tech-focused Nasdaq Composite advanced 0.7% as investors remained focused on the latest flow of quarterly results.
Crude oil prices rose 1% to $90.53 a barrel amid growing speculation in the Middle East that the U.S. is amassing naval assets in the Persian Gulf under the pretext of ceasefire negotiations.
Oil traders in London and Abu Dhabi are speculating a surge in price of more than 50% in the event the U.S. carries out the widely anticipated ground invasion.
U.S. Movers
General Electric declined 5% to $286.73 despite the aerospace company reporting strong sales in the first quarter.
Revenue increased 25% to $12.3 billion from $9.9 billion, net income decreased to $2.19 billion from $2.24 billion, and diluted earnings per share were unchanged at $1.83.
The aerospace company held out for 2026 diluted earnings to range between $7.10 and $7.40 and cash flow to fall between $8.0 billion and $8.8 billion.
Best Buy Company declined 4.2% to $63.85, and the company named an insider, Jason Bonfig, as the next chief executive, replacing Corie Barry in late October.
China and Hong Kong Stocks Under Pressure Amid Hormuz Uncertainty
Li Chen
22 Apr, 2026
Hong Kong
Stocks in mainland China and Hong Kong struggled as the U.S. and Iran talks ended with no visible progress.
The Hang Seng Index decreased 1.4%, and the mainland-focused CSI 300 Index edged up 0.4% amid diplomatic uncertainty in the Persian Gulf.
Market sentiment in China and Asia soured following the lack of progress in normalizing crude oil and gas flows through the Strait of Hormuz.
Brent crude oil prices struggled around $98.43 a barrel amid lingering uncertainty and rising prospects of violence in the Persian Gulf.
Despite claims by the U.S. president, shipments through the critical waterway remain depressed, and Iran and the U.S. claim to continue their blockades in the region, which has kept elevated overall global energy prices.
China Stocks and Movers
The Hang Seng Index decreased 1.4% to 26,140.27, and the mainland-focused CSI 300 Index gained 0.3% to 4,782.18.
Alibaba Group, Tencent Holdings, and Baidu Inc. dropped between 3% and 5%.
CNOOC, PetroChina, and Sinopec Shanghai Petrochemical fell between 1% and 2%.
China and Hong Kong Stocks Under Pressure Amid Hormuz Uncertainty
Li Chen
22 Apr, 2026
Hong Kong
Stocks in mainland China and Hong Kong struggled as the U.S. and Iran talks ended with no visible progress.
The Hang Seng Index decreased 1.4%, and the mainland-focused CSI 300 Index edged up 0.4% amid diplomatic uncertainty in the Persian Gulf.
Market sentiment in China and Asia soured following the lack of progress in normalizing crude oil and gas flows through the Strait of Hormuz.
Brent crude oil prices struggled around $98.43 a barrel amid lingering uncertainty and rising prospects of violence in the Persian Gulf.
Despite claims by the U.S. president, shipments through the critical waterway remain depressed, and Iran and the U.S. claim to continue their blockades in the region, which has kept elevated overall global energy prices.
China Stocks and Movers
The Hang Seng Index decreased 1.4% to 26,140.27, and the mainland-focused CSI 300 Index gained 0.3% to 4,782.18.
Alibaba Group, Tencent Holdings, and Baidu Inc. dropped between 3% and 5%.
CNOOC, PetroChina, and Sinopec Shanghai Petrochemical fell between 1% and 2%.
U.S. Stocks Lacked Direction, Investors Reacted to Quarterly Results
Barry Adams
21 Apr, 2026
New York City
Stocks on Wall Street reversed losses from the previous session as investors overlooked escalating tensions in the Middle East.
The S&P 500 Index increased 0.2%, and the tech-heavy Nasdaq Composite advanced 0.3% as investors shifted their focus to quarterly results.
Tensions in the Persian Gulf escalated after the U.S. captured an Iranian-flagged cargo ship in the Gulf of Oman, and Iran reasserted its control over the Strait of Hormuz.
The dual blockade in the critical waterway in the Persian Gulf has disrupted the supply of energy products to China, India, Japan, South Korea, and other nations in Asia.
The price of a barrel of West Texas Intermediate crude oil edged down 0.9% to $86.67, and international Brent crude eased 0.8% to $94.71.
Crude oil prices remained volatile amid lingering uncertainty over the shipment of one-fifth of the world's global supply through the Strait of Hormuz.
U.S. Movers
UnitedHealth Group soared 6% to $342.50 after the medical insurance service provider reported better-than-expected first-quarter results.
UnitedHealth said revenue increased to $111.7 billion from $109.6 billion, net income edged lower to $6.28 billion from $6.29 billion, and diluted earnings per share rose to $6.90 from $6.85 a year ago.
The closely watched medical benefit ratio, a measure of total medical expenses paid compared to premiums collected, improved to 83.9% from 84.8% a year ago.
Investors are awaiting results from several leading corporations, including GE Aerospace, Northrop Grumman, RTX, Danaher, 3M, and Haliburton.
U.S. Stocks Lacked Direction, Investors Reacted to Quarterly Results
Barry Adams
21 Apr, 2026
New York City
Stocks on Wall Street reversed losses from the previous session as investors overlooked escalating tensions in the Middle East.
The S&P 500 Index increased 0.2%, and the tech-heavy Nasdaq Composite advanced 0.3% as investors shifted their focus to quarterly results.
Tensions in the Persian Gulf escalated after the U.S. captured an Iranian-flagged cargo ship in the Gulf of Oman, and Iran reasserted its control over the Strait of Hormuz.
The dual blockade in the critical waterway in the Persian Gulf has disrupted the supply of energy products to China, India, Japan, South Korea, and other nations in Asia.
The price of a barrel of West Texas Intermediate crude oil edged down 0.9% to $86.67, and international Brent crude eased 0.8% to $94.71.
Crude oil prices remained volatile amid lingering uncertainty over the shipment of one-fifth of the world's global supply through the Strait of Hormuz.
U.S. Movers
UnitedHealth Group soared 6% to $342.50 after the medical insurance service provider reported better-than-expected first-quarter results.
UnitedHealth said revenue increased to $111.7 billion from $109.6 billion, net income edged lower to $6.28 billion from $6.29 billion, and diluted earnings per share rose to $6.90 from $6.85 a year ago.
The closely watched medical benefit ratio, a measure of total medical expenses paid compared to premiums collected, improved to 83.9% from 84.8% a year ago.
Investors are awaiting results from several leading corporations, including GE Aerospace, Northrop Grumman, RTX, Danaher, 3M, and Haliburton.