Stock Market Today - 4/27: Stocks Stock Market Wednesday Shocking Earnings Increase, while Boeing Loss Mutes Dow Advance

Stock Market Today - 4/27: Stocks Stock Market Wednesday Shocking Earnings Increase, while Boeing Lo ...

Investors anticipate that stronger-than-expected tech earnings will boost sentiment amid concerns about Fed rate hikes, China's lockdown, and Russia's war on Ukraine.

Microsoft () - shares might provide some early development for IT firms following its higher-than-expected third quarter earnings last night, with the heavyweight cloud and computing company helping the Nasdaq recover from a 514 point drop that dragged the index to its lowest levels since December of 2020.

However, a much larger-than-expected loss for Dow component Boeing () - amounted to some of the market's biggest concerns over the strength of the first quarter earnings season.

After Gazprom cut off natural gas supplies to Poland and Bulgaria for failing to meet an earlier pay demand in roubles, bullish tech sentiment will also need to deal with a tension between Russia and its European neighbors.

This push, which is widely believed to be a warning to Germany and other western European countries who have challenged Russia's invasion of Ukraine in February, pushed the euro to a five-month low of 1.0597, despite the US dollar's rises. Regional equities were kept unchanged in early Frankfurt trading.

The US dollar index has risen to three-year highs as compared to its global peers in April, with the highest increase since November in over five years, but was recorded another 0.43% in overnight trading to 102.738, as traders price-in impact on 50 basis point rate rises at both of the Federal Reserve's next two policy meetings and move into a safe-haven asset.

That in part, has boosted the market's principal volatility index, the VIX, well beyond the 30 point mark, a level trader usually associates with significant intra-day moves for prominent U.S. indicators.

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"Investors are simply unwilling to pay premium pricing for equities with the near certainty that the Federal Reserve will increase interest rates many more times this year," says Ryan Belanger, managing director and CEO of Claro Advisors, a wealth management firm based in Boston, with $700 million under management.

"We haven't seen any significant stock market pullback until now, as a result of the Covid lows," he said. "It's understandable to see choppy markets after over two years of strong gains."

After the bell, that, as well as another busy slate of corporate earnings, should focus on Wall Street again Wednesday, with Boeing BA, T-Mobile US () - and Kraft Heinz () reporting before the bell bell and Meta Platforms FB, Ford () -, PayPal () - and Qualcomm () are expected to follow the closing of trading.

Futures' contacts with the Dow Jones Industrial Average are indicating a 210 point opening bell gain, while those linked the S&P 500, which is down 2.4 percent for the year, are priced for a 16 point rise.

Alphabet () - shares fell 4% down as the search and ad company closed amid a worldwide pullback in ad sales linked to Russia's war on Ukraine and increasing competition from China-based TikTok.

Boeing slowed 4.5 percent after posting another reason for $1.5 billion in 'abnormal cost' charges related to its 777x twin-engine aircraft.

Microsoft's Azure cloud offering has risen 3.6 percent after its tech giant forecast, despite concerns about the pace of growth.

T-Mobile US () - jumped 2.8 percent following much higher-than-expected first quarter earnings as well as a, continuing to attract new customers with its expanding 5G network.

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