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Dow Jones Today, Futures Mixed Ahead Of Fed News, Biden Speech; Google Rallies, Microsoft Slides On Earnings

Posted Date: April 28 2021
Stock futures wobbled in and out of mixed trade Wednesday, as markets waited on the Federal Reserve's policy announcement and digested an onslaught of earnings reports. Google parent Alphabet rallied on earnings, as did Shopify and Advanced Micro Devices. And on the Dow Jones today, Visa led as Microsoft, Boeing and Amgen lagged after reporting earnings
Dow Jones futures hung 0.2% below fair value, while S&P 500 futures defended a fractional gain. Nasdaq 100 futures dipped 0.1% on the stock market today. Small caps also downshifted, with Russell 2000 futures ebbing about 0.15%.
IBD Leaderboard stock Alphabet (GOOGL) was the prime mover in early trade, climbing 4.8% to the top of the Nasdaq 100 and S&P 500. Chipmakers Advanced Micro Devices (AMD) and Xilinx (XLNX) were also high in the mix, each up around 4.5%. Chip stocks in general remained weak, however, with the iShares PHLX Semiconductor ETF (SOXX) down 0.5% early as Texas Instruments (TXN) slumped following its first-quarter report.
Among other names rising on earnings, Shopify (SHOP) scrambled more than 5% higher as earnings soared on a $1.3 billion investment gain.

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