By Alex Financials

In the aftermath of Wednesday’s Fed decision, the US stock market finds itself on steadier ground, with investors pivoting attention to key earnings releases and economic indicators. Here’s a breakdown of what’s driving the market narrative:

Apple’s Quarterly Report: Bracing for Impact

AAPL investors are bracing for Apple’s earnings report, expecting a downturn in revenue and potential challenges in iPhone sales, particularly in China. Despite this anticipation, there’s optimism around potential bright spots in Apple’s performance. The earnings call will likely shed light on how economic headwinds in both the US and China are affecting the tech giant’s sales trajectory.

Semiconductor Surge: Tech Stocks Lead Gains

Tech stocks, particularly semiconductor companies, saw notable gains in Thursday’s trading. Leading the charge were companies like Nvidia (NVDA), Qualcomm (QCOM), and ASML (ASML), buoyed by positive revenue forecasts and sector-wide optimism.

Bitcoin Rebounds Amidst ETF Outflow

After a recent downtrend, Bitcoin (BTC-USD) rebounded, surpassing the $59,000 mark following a record outflow from spot Bitcoin exchange-traded funds (ETFs). Despite recent volatility, the cryptocurrency market maintains resilience, with investors closely monitoring shifts in asset flows.

Carvana’s Surprise Surge

Carvana (CRVN) stunned investors with a 34% surge after reporting an unexpected profit for its latest quarter. The online car platform’s robust performance, marked by impressive revenue figures and record gross profit per unit, underscores its resilience and adaptability in a dynamic market landscape.

Fed Holds Rates: Allaying Rate Hike Fears

Wednesday’s Federal Reserve decision to maintain interest rates provided relief to investors rattled by inflation concerns. Fed Chair Jerome Powell’s reassurance that rate hikes are unlikely in the near term calmed market jitters, reinforcing the central bank’s data-driven approach to policy-making.

Looking Ahead: Jobs Report as Market Barometer

With the April jobs report looming, Wall Street is closely monitoring labor market indicators for insights into economic resilience. Amidst positive signals of US outperformance driving global economic growth, attention now turns to the labor market’s ability to sustain momentum amidst evolving macroeconomic dynamics.

In conclusion, while recent market turbulence underscored by Fed uncertainty has abated, investors remain vigilant, navigating through a landscape shaped by earnings reports, economic data, and policy developments.