"The Nasdaq Composite found its footing Thursday morning, initially pushing into positive territory as tech retook the wheel, a firmer-than-expected GDP reading, and a welcome retreat in crude oil prices."
"On the economic front, Q1 real GDP grew 2%, a recovery from the near-stall of 0.5% in Q4 2025, with business investment up 9% picking up the slack from softer consumer spending."
"Alphabet set the tone. The search and cloud giant posted Q1 revenue approaching $110 billion, up 22% on the year, with Google Cloud contributing $20 billion - a 63% surge."
The Nasdaq Composite initially gained ground due to positive GDP growth and falling oil prices but later declined as concerns over Big Tech's spending plans and rising inflation emerged. Q1 real GDP grew by 2%, with business investment increasing by 9%. Oil prices decreased, providing some relief, but inflation pressures persisted with a PCE reading nearing 4%. Alphabet's strong Q1 revenue of nearly $110 billion, driven by Google Cloud, significantly impacted market sentiment, despite overall market fluctuations.
Read at 24/7 Wall St.
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