Live Markets: US stocks mixed in early trade after data flurry, big earnings

Caterpillar

30/04/2026 15:40

Dow gains >1%; S&P 500 ~flat; Nasdaq off ~0.7%

Industrials leads S&P sector gainers; Tech weakest group

Euro STOXX 600 index up >1%

Dollar falls; US crude dips; bitcoin rises; gold rallies >1%

US 10-year Treasury yield dips to ~4.40%

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US STOCKS MIXED IN EARLY TRADE AFTER DATA FLURRY, BIG EARNINGS

After opening gains put the S&P 500 .SPX and Nasdaq .IXIC just shy of intraday records, indexes have faded somewhat in the early portion of trading as investors weigh a flurry of major catalysts, including economic data and a barrage of earnings.

On the economic front, the Commerce Department said gross domestic product increased at a 2.0% annualized rate last quarter in its advance GDP estimate, up from the 0.5% in the prior quarter but below the 2.3% estimate of economists polled by Reuters.

In addition, the personal consumption expenditures price index jumped 0.7% last month, the largest gain since June 2022 and matching expectations, after an unrevised 0.4% rise in February.

Separately, the Labor Department said growth in U.S. labor costs increased slightly more than expected in the first quarter amid a jump in benefits, but wage growth was moderate against the backdrop of a softening labor market. Meanwhile, weekly initial jobless claims fell 26,000 to a seasonally adjusted 189,000, below the 215,000 estimate.

“The U.S. data this morning was mixed but probably validates the Fed's stance yesterday of a little bit of a hawkish turn or a hawkish leaning compared to the previous meeting," said Michael Lorizio, head of U.S. rates and mortgage trading at Manulife Investment Management in Boston.

After the Fed kept rates steady on Wednesday in Jerome Powell's last meeting as chair with more members taking a hawkish stance, the European Central Bank (ECB) and Bank of England both followed suit in keeping rates on hold.

Markets are also assessing the earnings from hyperscalers Amazon.com AMZN.O, Meta Platforms META.O, Microsoft MSFT.O and Alphabet GOOGL.O to determine whether the massive AI spending would be justified.

Also on the AI front, Caterpillar CAT.N is buoying the gains in the Dow .DJI, after the construction equipment company raised its annual revenue forecast after beating expectations for quarterly profit, as its power equipment business benefited from an AI infrastructure boom.

Adding to the soup, sources familiar with the matter told Reuters that Japan intervened to prop up the yen to mark its first bout of official intervention in nearly two years while crude prices turned lower after climbing to a four-year high.

Below is your market snapshot:

(Chuck Mikolajczak/Karen Brettell)

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EARLIER ON LIVE MARKETS:

S&P 500 HOVERS NEAR HIGHS AS TECH EARNINGS COUNTER CRUDE AND DATA CROSSCURRENTS CLICK HERE

NO MORE 'GOOD PLACE' CLICK HERE

SOFTWARE STOCKS STUCK "TRYING TO DISPROVE A NEGATIVE" - SCHRODERS CLICK HERE

A FRAGILE START ON A BUSY EARNINGS DAY CLICK HERE

EUROPE BEFORE THE BELL: SHAKY STOCKS CLICK HERE

CENTRAL BANK HAWKS SPOOK BONDS, TECH UNTROUBLED CLICK HERE

Early trade April 30 https://fingfx.thomsonreuters.com/gfx/mkt/lbpgyymmkpq/Pasted%20image%201777557409990.png

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