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You Won’t Believe How Tech Stocks Are Dominating the Market Lately!

BBG News

So here we are, folks. U.S. stocks just finished higher on Thursday. Not a shocker, right? Of course, the big tech companies did all the heavy lifting here, because, well, who else would? Investors are still trying to figure out what’s going on with global trade—White House, Beijing, tariffs, yada yada. But at least there’s some action.

Now, let’s talk numbers, if you really want to get into it: the Nasdaq Composite surged 2.74%. Big deal. The S&P 500 added a solid 2.03%, like it’s breaking a sweat. And then there’s the Dow, trailing behind at a measly 1.23%, because apparently, when IBM takes a 6% dive after losing government contracts to budget cuts, that’s just what happens.

Meanwhile, the big dogs—Nvidia, Meta, Amazon, Tesla, Microsoft—are all up, because they have nothing better to do than inflate the market every day. I mean, when you see these companies rising, you just know the broader market is getting a nice little boost. Tech, it’s like a three-day winning streak—what a run!

China Talks? Yeah, Whatever.

Here’s where it gets spicy—China’s commerce ministry says, “No trade talks right now, thanks, but we’ll take our tariffs removed, please.” Sure, no problem. Meanwhile, Trump is out there softening his stance, and Treasury Secretary Scott Bessent throws in some cryptic comment about a potential South Korea deal next week. Who knows? Maybe they’re negotiating a deal for a new golf course.

Ross Mayfield from Baird is like, “Yeah, I’m not so sure this rally is gonna last. China’s pretty clear—they’re not talking. But the market’s still thinking the U.S. administration wants a deal.” Yeah, well, Ross, you’re right about that. Because every time someone says, “Hey, maybe we’ll work something out,” the market gets all giddy. Classic.

“China was pretty explicit there are no negotiations ongoing,” Ross said to CNBC. Wow, thanks for the tip, Ross. Appreciate it. “The market may still be reacting to signals that the administration wants a deal.” Oh, I’m sure that’s what’s happening here.

But let’s not get too excited. The S&P 500 is still down 3.5% since Trump dropped the tariff bomb on April 2. The Dow’s down 5.3%, and the Nasdaq? Well, it’s only down 2.8%. But hey, we’re all pretending everything is fine, right?

Now, what’s next? Oh, you know, earnings reports from Alphabet, Google, and Intel. Alphabet’s not expected to be affected by the trade drama—at least not yet. But, hey, let’s see if they sneak in a little something about tariffs in their quarterly chat. And Intel’s new CEO, Lip-Bu Tan? He’s debuting, so let’s see if he can turn this ship around.

Meanwhile, Bitcoin’s chilling in the mid-$93,000 range. Yeah, you read that right. How much do you want to bet it’s just sitting there, doing absolutely nothing? Classic crypto.

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2025-04-24 23:37

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