S&P 500 (NYSEARCA: SPY) Live: FSLR (Nasdaq: FSLR), EFX (NYSE: EFX) Fly in Market Bounce
Live Updates Live Coverage Updates appear automatically as they are published. Earnings Bump 11:47 am by Gerelyn Terzo The markets are holding onto their gains today, with each of the three major stock market averages up about 2%. Analysts are not convinced that the stock market has reached a bottom, with BTIG suggesting that the […] The post S&P 500 (NYSEARCA: SPY) Live: FSLR (Nasdaq: FSLR), EFX (NYSE: EFX) Fly in Market Bounce appeared first on 24/7 Wall St..
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Earnings Bump
The markets are holding onto their gains today, with each of the three major stock market averages up about 2%. Analysts are not convinced that the stock market has reached a bottom, with BTIG suggesting that the S&P 500 will revisit the 5,000-5,100 range compared to its current level of above 5,200.
First-quarter earnings season is off to a good start, as companies continue to print better-than-expected profits, the most recent of which was First Solar (Nasdaq: FSLR) after the U.S. slapped lofty tariffs on solar exports from Asia.
The broader markets bouncing higher, with each of the three major stock market indices up at least 2%. The S&P 500’s 2% gain is being fueled by First Solar (Nasdaq: FSLR) and Equifax (NYSE: EFX), which are soaring by double-digit percentages today. Markets appear to have shifted their focus from tariffs to first-quarter earnings for now.
Each sector of the economy is gaining ground today, including a nearly 3% gain in consumer discretionary stocks. Technology stocks are in on the rally, gaining approximately 2% as each of the Mag 7 stocks moves higher. Today’s market rally trim’s the S&P 500’s declines over the past five-day stretch to 2.3%.
While today’s rally is helping to lift the mood on Wall Street, not all analysts are convinced that the market bottom has been registered. BTIG chief market technician Jonathan Krinsky reportedly published a note saying a “retest of the 5,000-5,100 area is in the cards.” The S&P 500 is currently hovering above 5,200.
Here’s a look at the performance as of morning trading:
Dow Jones Industrial Average: Up 823.15 (+2.16%)
Nasdaq Composite: Up 391.12 (+2.46%)
S&P 500: Up 113.00 (+2.19%)
Market Movers
Equifax’s 13% advance is being fueled by better-than-expected Q1 profit results. A modest decline in mortgage rates served as a positive catalyst for the company’s mortgage division. EFX stock remains 55% below its 52-week high.
First Solar is gaining 11.4% on the day after the U.S. attached hefty tariffs to solar imports from Asia. The Trump administration has placed tariffs of up to 3,521% on solar imports from Southeast Asia, buoying the domestic solar power market including FSLR this week.
Pentair (NYSE: PNR) stock is rising 8.2% today after surpassing Q1 profit expectations. The U.K.-based water tech company is experiencing rising demand for its pool maintenance and repair services and has made provisions to protect itself against the tariff fallout.
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