S&P 500 Rebounds after Negative GDP News
Data released yesterday showed US GDP growth slowed to 1.6% in the first quarter of the year. According to ForexFactory: forecast = 2.2%, past value = 2.4%.
Reaction to the news sent the S&P 500 mini stock index (US SPX 500 mini on FXOpen) sharply lower as market participants may fear a period of stagflation — a period when economic growth slows and inflation remains stubbornly high.
However, this morning the 4-hour chart of the US SPX 500 mini shows that the stock market is recovering thanks to gains in Google and Microsoft, which reported strongly after the close of the main trading session.
Source: FXOpen
Bank of Japan Keeps Monetary Policy Unchanged, Sees Slightly Higher Inflation in Fiscal 2024
The Bank of Japan kept its policy rate unchanged Friday after its monetary policy meeting, holding its benchmark policy rate at 0%-0.1%.
This is in line with expectations from economists polled by Reuters.
While the move was expected, this comes after Tokyo’s April inflation came in lower than expected, with the core inflation rate at 1.6% compared to expectations of 2.2% from Reuters.
The BOJ also said it will continue to conduct bond purchases in line with the March decision. The bank previously said in March it bought about six trillion yen ($83.5 billion) worth of bonds per month in the past.
Source: CNBC
Alphabet Stock Surges on Earnings Beat, Dividend Announcement
Google parent Alphabet (GOOG, GOOGL) gained as much as 13% in after-hours trading Thursday, following standout quarterly results that beat revenue and earnings estimates and stoked investor excitement with the announcement of a cash dividend program of $0.20 per share.
The board of directors also approved stock repurchases of up to an additional $70 billion.
Revenue, excluding traffic acquisition costs, rose 16% from the same period last year to $67.59 billion, beating analyst expectations of $66.07 billion, per Bloomberg data. The company reported adjusted earnings per share of $1.89 versus consensus estimates of $1.53.
Source: Yahoo Finance
🌐 FXOpen official website: [ Ссылка ]
Join us on our social networks:
✅ [ Ссылка ]
✅ [ Ссылка ]
✅ [ Ссылка ]
✅ [ Ссылка ]
CFDs are complex instruments and come with a high risk of losing your money.
![](https://i.ytimg.com/vi/ZfgAjYqs0iY/maxresdefault.jpg)