📈Tech Rally Stays Hot, But Growth Stocks Hit Speed Bumps
Markets continued their upward climb on Wednesday, fueled by tech strength and easing trade fears. But not all sectors joined the party—many growth stocks struggled to hold early gains, reminding us that it’s still a selective environment for breakouts.
🔍 Market Overview
Nasdaq: +2.5% (intraday high of +4.5%)
S&P 500: +1.7%
Dow Jones: +1.1%
Both the Nasdaq and S&P 500 followed up Tuesday’s strong technical follow-through with more gains, though enthusiasm faded later in the day. Despite the rally, breakout attempts by Stride (LRN) and Virtu Financial (VIRT) failed to hold.
📊 Spotlight Stocks & Key Moves
Tesla (TSLA ▲ 5.37%): Bounced despite a weak revenue print—Musk vows to focus less on Dogecoin.
Boeing (BA ▲ 6.06%): Narrowed losses and pledged to boost 737 Max output—tariff tensions with China still loom.
Intuitive Surgical (ISRG ▲ 1.92%): Beat earnings but warned of tariff-driven margin pressure.
Enphase Energy (ENPH ▼ 15.65%): Missed on top and bottom lines; cited Q2 margin headwinds from China-sourced batteries.
Duolingo (DUOL ▲ 10.01%): Upgraded by Morgan Stanley with a $435 target, praised for its gamified learning platform.
🧠 Investor Insight
Spotify (SPOT) flirted with a breakout near the 621.20 level but backed off—earnings next week make it a tough entry now.
Palantir (PLTR) showed some heat above 100 before cooling down. It remains under 20% off highs and has market leadership potential.
GeneDX (WGS) and SAP (SAP) stood out—GeneDX broke its downtrend ahead of earnings, while SAP surged on accelerating revenue and strong guidance.
🌐 Macro Buzz
Trade Tensions Easing? Trump hinted at significant tariff reductions on Chinese goods and a hands-off approach toward the Fed.
Fed Watch: Next meeting is May 6–7. Markets price in a steady hand, with growing odds of a rate cut in June (~61%).
📦 Other Noteworthy Movers
Amazon (AMZN ▲ 4.29%) & Meta (META ▲ 4.00%): Gained on ad-spending optimism despite hefty EU fines.
Alphabet (GOOGL ▲ 2.56%): Plans India-based Pixel production to dodge Vietnam-related tariffs.
Intel (INTC ▲ 5.54%): Showcased new auto chips at the Shanghai Auto Show.
Tempus (TEM ▲ 14.62%): Inked major oncology AI deals with AstraZeneca and Pathos.
RTX (RTX ▲ 5.74%): Rebounded on a Morgan Stanley upgrade.
Oracle (ORCL ▲ 3.27%): Downgraded due to heavy FY26 investment projections.
Keep an eye out for upcoming earnings from Agnico Eagle Mines (AEM) and Fed updates in early May. The market may be rallying, but entry points remain tricky, especially with macro risks still lurking.
Happy Trading
