Home Uncategorized The market opens a strong rally on Thursday, although April is still...

The market opens a strong rally on Thursday, although April is still at a pace to become the worst month in two years


“Ladies and gentlemen, the £ 10,000 prize went to Louis Polhan, the best pilot the world has ever seen. Compared to him, I’m just a beginner. Three cheers for Pauhan! ”
“Claude Graham-White.”

On Thursday, April 28, 1910, British pilot Claude Graham-White became the first person to fly at night, just six years after the Wright brothers made their historic flight.

Graham White and Frenchman Louis Pauhan competed in a flight competition sponsored by The Daily Mail, and offered £ 10,000 to the first person to fly 298 km (185 miles) from London to Manchester in less than 24 hours.

The Briton was the first to take off, leaving London on April 23, before having engine problems and was forced to land in Lichfield, just halfway.

Pauhan left London four days later, on April 27, and Graham White decided to make a night flight on April 28 to try to defeat Polhan.

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Graham White was again forced to land near Manchester, recognizing the victory and graciously declaring Polhan “the best pilot the world has ever seen.”

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Markets are growing strongly on Thursday afternoon, following a sharp sell-off on Tuesday and a volatile rally on Wednesday. The S&P 500 was up 2.3%, the Nasdaq Composite was up 2.8% and the Dow Industrials was up 1.7% at 13:45 ET.

Strong corporate earnings continue to support the market, which has been under pressure all month due to the weight of the Federal Reserve’s upcoming steps on interest rates, inflation and slowing global growth.

Even with today’s rally, April remains the worst month in the market in two years, despite the fact that 80% of S&P 500 companies still exceed earnings estimates.

PTC ( PTC) moves across all S&P 500 titles, up 16%. The software and services company easily surpassed the revenue and profit estimate for the second fiscal quarter and raised revenue and cash flow targets for the full year.

Promotions Meta-platforms ( FB) 15% higher, which today leads in all Nasdaq names and is second only to the PTC among S&P 500 participants. daily users by issuing improved cost instructions for the entire year.

Qualcomm ( QCOM) is Nasdaq’s second-best figure on Thursday, up more than 8% after announcing record earnings for the second fiscal quarter. The chipmaker has also published better-than-expected earnings benchmarks for the full year.

The Federal Open Market Committee will meet next Tuesday and Wednesday, May 3 and 4, when the target rate is expected to increase by 50 basis points.

Whatever rate hike is announced next week, it will be only the first of many expected this year, and even the most pigeon-like central bankers recognize that the Fed needs to be more aggressive than it has been for decades.

Oil futures continue to be actively traded: as of 13:45 Brent oil rose by 1.9% to $ 107.32 per barrel, and West Texas Intermediate – by 2.6% to $ 104.70.

Shell, the world’s leading oil trader, has announced tougher restrictions on its purchase of Russian oil, and Germany has said it will no longer prevent the European Union from a full embargo on Russian oil.

When we study the stock option data provided by the Tradier API, we find this noticeable iron condors increased in popularity for the third week in a row compared to other strategies. Iron condors, which are most profitable when major securities or indices are placed in a narrow range, were the second most common strategy Tradier saw last week.

Among the options for single stocks, well-known names top the bull list Apple ( AAPL) and Tesla ( TSLA) above.

Apple reported earnings in the second fiscal quarter today after closing, with the street looking for $ 94 billion in profits and earnings of $ 1.42 per share. In April, Tesla shares were serious, falling 23% from a peak on April 4 before closing on Wednesday, coinciding with a proposal by founder Ilona Maska on Twitter.

Bear traders operated under two online names: computer retailer Newegg Commerce ( NEGG) and a real estate broker Opendoor Technologies ( OPEN).

Shares of Newegg fell sharply from November highs, down 68% by Wednesday. Promotions have been a popular topic on Reddit boards for months, but seem to be out of focus now.

Remaining questions about the long-term viability of the Opendoor business model are what remain an intensive home buying and selling business. In 2000, the company went public through the merger of SPAC with investors.

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Source: Stock news

Share price data is provided by IEX Cloud with a 15-minute delay. Chart cost data is provided by TradingView with a 15-minute delay.

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