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Afternoon Note

Holding Up

By Karina Hernandez, Senior Research Analyst
5/2/2024 1:54 PM

The market seems calm and steady, holding on to gains this afternoon. The Russell 2000 is the best performing index, up 1%.

Gains in some mega cap companies are providing a boost to the broader market. Technology is the best performer, thanks to Qualcomm (QCOM) and Monolithic Power Systems (MPWR), which reported after the bell yesterday.

Technology will garner more attention when Apple (AAPL) reports its quarterly results after the close. Its stock hasn’t seen much love from investors this year. The big question investors have is what growth segment can AAPL display today?

On the economic front, factor orders came in line with consensus.

All eyes on Apple (AAPL) results and nonfarm payrolls report tomorrow. 


 

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