Alain’s Holdings
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 654.24 | -0.02 | 0.00% |
| QQQ | Invesco QQQ Trust | 657.55* | -6.68* | -1.01%* |
| XIU.TO | iShares S&P/TSX 60 ETF | 49.42* | -0.39* | -0.78%* |
| VRT | Vertiv Holdings Co. | 306.18 | +1.15 | +0.38% |
Indexes Drift as Fed Holds, Oil Climbs, and Mega-Cap Earnings Roll In
It was a historic and tense session on Wall Street — the Fed’s final meeting under Jerome Powell, crude oil pushing toward multi-year highs, and four of the world’s largest companies reporting earnings in an 80-second window after the bell.
The Dow Jones Industrial Average fell 280.12 points, or 0.57%, to close at 48,861.81 — its fifth straight losing day.
The S&P 500 inched down 0.04% to 7,135.95, while the
Nasdaq Composite barely kept its head above water, edging up 0.04% to 24,673.24.
The Big Story: Powell’s Final Curtain & The Fed Holds
The Federal Reserve left its key interest rate unchanged, as widely expected. In what is likely Jerome Powell’s final press conference as Fed Chair — his term expires May 15 — he confirmed he will stay on the Fed’s Board of Governors for an indefinite period while an investigation into the renovation of the central bank’s headquarters concludes.
With no end in sight to the Middle East conflict, money markets all but abandoned wagers on a rate cut this year and began pricing in the chances of a rate hike in 2027. Treasury 10-year yields hit a one-month high.
Oil: Nearing Wartime Highs
Brent crude climbed another 5% to $116.80 a barrel, nearing its wartime peak of just above $119 — and far above the roughly $70 level seen before the conflict began. President Trump told aides to prepare for an extended blockade of Iran, dashing hopes of a near-term deal.
After the Bell: The 80-Second Earnings Blitz
Four of the biggest companies in the U.S. — Alphabet, Amazon, Meta, and Microsoft — all reported earnings within minutes of each other after the close.
🟢 Alphabet (GOOGL) — Big Beat Alphabet delivered a blowout quarter, posting revenue of $109.9 billion against expectations of $107 billion, and EPS of $5.11 versus the $2.63 estimate. Google Cloud was the headline, growing 63% to $20 billion — demolishing last quarter’s 48% growth rate. Search grew 19% and YouTube ads grew 11%. Shares jumped 4% after hours.
🔴 Meta (META) — Beat but Spooked Investors Meta stock fell 7% after hours after the company raised its capital expenditure guidance to $125–$145 billion, up from a prior range of $115–$135 billion, reflecting higher component pricing and more data center costs.
🟡 Microsoft (MSFT) — Beat but Slipped Microsoft posted fiscal Q3 revenue of $82.89 billion, ahead of the $81.39 billion expected, and EPS of $4.27 versus the $4.06 estimate — an 18% revenue increase year over year. Shares slipped roughly 1% in after-hours trading. Microsoft’s cloud growth failed to fully ease investors’ ongoing AI concerns.
Notable Movers During the Session
Winners:
- Visa (V) surged more than 10% after beating analyst estimates for the quarter, with the CEO saying consumer spending remained resilient.
- Seagate (STX) surged 17–18% after posting strong results and raising its annual revenue growth target, citing robust AI-related demand — lifting memory chip peers Western Digital and Micron along with it.
- NXP Semiconductors (NXPI) soared 15–19% on a strong Q1 report, pointing to solid industrial chip demand.
- Starbucks (SBUX) climbed nearly 5% after beating consensus on earnings and revenue and projecting fiscal 2026 earnings above Wall Street’s expectations.
Losers:
- Robinhood (HOOD) tumbled more than 10% after missing Q1 earnings and revenue expectations, driven by a 47% drop in crypto trading fees.
- Pershing Square (PSUS / PS) debuted on the NYSE after Bill Ackman’s long-awaited IPO raised $5 billion — pricing at the low end of expectations, a far cry from the $25 billion once targeted.
What’s Next
PayPal made waves with reports that it will spin Venmo into a separate segment, stoking M&A speculation. All eyes now turn to Apple (AAPL), which reports Thursday, and to how after-hours moves in Alphabet, Meta, and Microsoft translate into Friday’s open. With oil near $117 a barrel and the Fed officially in a holding pattern, the market’s next catalyst will come from Big Tech’s guidance — and whether AI spending is finally paying off.
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