Market Updates
Stocks Rebound in New York and Europe, Russia Halts Gas Flow to Poland and Bulgaria
Barry Adams
27 Apr, 2022
New York City
Market indexes opened higher and tech stocks led the rebound a day after the Nasdaq Composite hit the new low in 2022.
The S&P 500 index opened up 0.3% and the Nasdaq Composite advanced 0.4%.
Microsoft jumped more than 3% after reporting better-than-expected earnings and sales.
Alphabet Inc, the parent of Google, fell 4% after investors were disappointed with the advertising revenue growth on YouTube social media platform.
After the clos today, Meta Platforms is expected to report earnings and Apple and Amazon are scheduled to release earnings on Thursday.
Crude oil edged down $1.30 to $100.30 a barrel and Russia halted its natural gas deliveries to Poland and Bulgaria.
U.S. Treasury 10-year bond yield edged down to 2.74%.
In international trading, European markets traded higher despite the deepening divisions between Russia and European nations.
The DAX index in Frankfurt edged up 0.3%, in London the FTSE 100 index gained 0.7%, and in Paris Cac-40 index gained 0.5%.
Asian markets opened lower following a plunge in Nasdaq in overnight trading but trimmed losses in India and in China.
The Sensex index in Mumbai closed down 0.9%, the Nikkei index in Tokyo fell 1.2%, and the SSE index in Shanghai gained 2.5%.
Covid-19 cases are on the rise in Beijing but cases in Shanghai declined for the fourth day in a row.
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