In May, stock markets are experiencing gains spearheaded by Big Tech companies, particularly Meta Platforms and Microsoft, whose recent earnings exceeded expectations. The Nasdaq has shown resilience, shedding minimal losses and reflecting a 1% overall gain for April. While the technology sector gained 3%, healthcare suffered a 2% decline. As economic data is awaited, expectations around April’s employment figures suggest stability in the labor market, although a rise in unemployment claims raises concerns. The overall mood has shifted from fear to optimism due to strong tech performance, indicating a potential rebound in market fundamentals.
Stocks are rising in May with no sign of selling in sight as big tech stocks, especially Meta and Microsoft, boost investor confidence.
The technology sector is leading the markets higher today with a 3% gain, while healthcare is down by 2%.
Meta Platforms and Microsoft showed strong Q3 earnings reports this week, shifting the investor mood from fear to excitement.
With fresh economic data expected, economists predict that April's employment report will show steady labor market conditions despite some slowdown.
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