Live Nasdaq Composite: AMD (Nasdaq: AMD) Rises, TXN Nasdaq: TXN) Falls Amid Economic Turbulence

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Stocks Flip Green

10:00 am by Gerelyn Terzo

As of mid-morning trading, the stock market has turned higher, with all three of the major stock market averages now seeing green. Most sectors of the economy are now trading higher, led by materials and technology, each of which are up about 1%. The economy is still uncertain, but inflation is headed in the right direction – lower. BlackRock CEO Larry Fink warned on CNBC that a recession might have already reared its head in the U.S. economy.

Here’s a look at where things stand at last check:

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Up 198.68 (+0.48%)
Nasdaq Composite:  Up 129.17 (+0.79%)
S&P 500: Up 24.31 (+0.40%)

The markets remain fearful, falling modestly at the open across the board amid what JPMorgan CEO Jamie Dimon has called a turbulent economy. Dimon also warned that S&P 500 earnings estimates are going to be revised downward as corporate American continues to cancel their current outlooks, some of which have already begun to do so. He expects that American banks will be in the crosshairs of the trade wars.

Markets are also weighing some better than expected economic data on the inflationary front. Wholesale price declined by 0.4% last month, yet another indication of waning inflation as the Federal Reserve gears up for its May meeting on interest rates.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Down 305.83 (-0.77%)
Nasdaq Composite: Down 78.09 (-0.44%)
S&P 500: Down 32.54 (-0.66%)

Market Movers

It’s a tale of two markets for the chip stocks today. Texas Instruments (Nasdaq: TXN) is falling a steep 8.9% to about its 52-week low level. The stock was trading in the $200 area last month to currently hover at $142 per share. On the flip side, Advanced Micro Devices (Nasdaq: AMD) is gaining 4.3% today to nearly $94 per share. The stock was well over $100 per share in recent weeks and has been volatile.

Earnings season has begun. Financial stock Morgan Stanley (NYSE: MS) reported better-than-expected Q1 profit results, sending shares up about 1%. The company’s results were fueled by robust stock market trading, leading to a record performance in that business.

Advertising technology company AppLovin (Nasdaq: APP) shares are under pressure today, falling 6% to below $250 per share as the tug-of-war in that stock continues to unfold.

Bitcoin bull MicroStrategy (Nasdaq: MSTR) is rising 5% on the day alongside a rising BTC price.

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