"The biggest catalyst was Advanced Micro Devices ( NASDAQ:AMD | AMD Price Prediction). Shares ripped almost 19% to roughly $421 after Q1 revenue of $10.25 billion and non-GAAP EPS of $1.37 topped the $1.29 estimate. Data Center revenue jumped 57% to $5.78 billion, and CEO Lisa Su guided Q2 to around $11.2 billion, calling it an "outstanding first quarter, driven by accelerating demand for AI infrastructure" and to"
"So far, this earnings cycle is shaping up as one of the strongest on record. Deutsche Bank has characterized it as potentially one of the best earnings seasons in two decades, with S&P 500 profit growth tracking near 25%, more than double the historical pace outside of recessions, and beat rates running well above long-term averages. Analysts, rather than trimming estimates as is typical mid-cycle, are actually revising numbers higher."
"Oil prices were choppy Thursday as traders continued to monitor the fluid situation between the U.S. and Iran, but both WTI and Brent Crude are now trading below the $100/barrel threshold. Citi U.S. equity strategist Scott Chronert cautioned that the duration of the conflict carries meaningful implications for broader economic conditions. Shell reported that first-quarter profits more than doubled, but flagged reduced gas production stemming from the war's disruptions, sending shares roughly 2% lower."
"The punched to a fresh record Wednesday, with the broader market index now perched above 7,300. With a 7.6% YTD gain in the S&P 500 (^GSPC), bulls are back in control, citing a roughly 15% rally off the March low as AI earnings, easing Iran tensions, and softer crude combine to push higher."
The broader market index moved above 7,300 as the S&P 500 gained 7.6% year to date. A roughly 15% rally off the March low was attributed to strong AI earnings, easing tensions involving Iran, and lower crude prices. Oil traded choppily while traders monitored U.S.-Iran developments, with WTI and Brent below $100 per barrel. Citi warned that the length of the conflict could affect broader economic conditions. Shell reported profits more than doubled but reduced gas production due to war disruptions, weighing on shares. The earnings cycle showed unusually strong results, with S&P 500 profit growth near 25% and analysts revising estimates higher. Initial jobless claims came in at 200,000, below expectations, reinforcing labor market resilience. AMD surged after Q1 revenue and non-GAAP EPS beat estimates, with data center revenue rising sharply and guidance pointing to accelerating AI infrastructure demand.
Read at 24/7 Wall St.
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