The stock market has been fluctuating over the past few weeks, and investors are keeping a close eye on any developments that could impact their portfolios. In this article, we will look at the latest updates from the stock market and what investors need to know going into trade on April 21.
Market Recap
On Tuesday, April 20, the Dow Jones Industrial Average rose 0.9% to 34,137.31, while the S&P 500 gained 0.9% to 4,173.42. The Nasdaq Composite climbed 1.2% to 13,950.22. All three indexes were up for the second day in a row.
The stock market’s recent gains can be attributed to several factors, including better-than-expected earnings reports and a decline in bond yields. However, concerns over rising COVID-19 cases in India and Japan could impact the market’s performance in the coming weeks.
Tech Giants’ Earnings Reports
Investors are eagerly awaiting the earnings reports of several tech giants, including Apple, Facebook, and Google’s parent company, Alphabet. These companies’ performances can have a significant impact on the market, given their size and influence.
Apple’s earnings report is expected to show a significant increase in revenue, driven by strong sales of the iPhone 12 and other products. Facebook’s earnings report could show an increase in revenue, but the company is also facing regulatory scrutiny and potential legal action.
Meanwhile, Alphabet’s earnings report is expected to show a strong performance in its advertising business, which accounts for the majority of the company’s revenue. However, the company is also facing antitrust lawsuits, which could impact its future performance.
Cryptocurrency News
Bitcoin, the world’s largest cryptocurrency, saw a significant drop in value earlier this week, falling below $53,000. The drop was attributed to several factors, including news that Turkey’s central bank has banned the use of cryptocurrencies for payments.
However, some experts believe that the drop in value could be a temporary blip, and that Bitcoin could continue to rise in value in the coming weeks and months. Other cryptocurrencies, including Ethereum and Dogecoin, have also seen significant gains in recent weeks.
The stock market has been performing well in recent weeks, driven by better-than-expected earnings reports and a decline in bond yields. However, investors should keep an eye on developments in India and Japan, as well as the earnings reports of tech giants like Apple, Facebook, and Alphabet.
Meanwhile, the cryptocurrency market has been volatile, with Bitcoin seeing a significant drop in value earlier this week. However, some experts believe that the drop could be temporary, and that cryptocurrencies could continue to see gains in the coming months.
