Market Updates
Tech Leaders Confirm AI Investment Plans After Strong Quarterly Results
Barry Adams
30 Apr, 2026
New York City
Benchmark indexes rested near the flat line as investors reviewed the latest batch of earnings.
The S&P 500 Index edged down 0.2%, and the tech-heavy Nasdaq Composite decreased 0.3% after leading tech companies reported quarterly results.
Alphabet Inc., Meta Platforms, Amazon, and Microsoft reported sharp advances in revenue and earnings in the first quarter.
Crude oil prices traded at four-year highs of $106 a barrel amid reports that the U.S. is preparing for an extended blockage of Iranian ports until a nuclear agreement is reached.
The The Federal Reserve left fed funds rates in the range of 3.5% and 3.75% unrevised, lowering 2026 economic growth to 2.0% from the previous estimate of 2.2%, and the PCE Price Index is accelerating to 2.7%.
Fed Chairman Powell cited elevated inflation and increased global energy prices as key reasons for the weakening broader economic outlook.
U.S. Movers
Amazon.com Inc. gained 2.6% to $269.88 after the e-commerce company reported better-than-expected quarterly results.
Microsoft decreased 1.8% to $416.90 after the software developer reported fiscal third-quarter results.
Revenue from Azure and other cloud services soared 40% from a year ago.
Meta Platforms declined 9% to $610.90 after the company's capital spending estimate of $19.84 billion fell short of market expectations.
Alphabet Inc. jumped 7.3% to $372.66 after the revenue of the search engine reached $107.2 billion.
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Earnings
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