Markets Hold Gains as Earnings Momentum Continues 23/04/2026

HOT stories for today

Market wrap:

• The S&P 500 and Nasdaq Composite closed at fresh record highs on Wednesday after President Donald Trump extended the U.S. ceasefire with Iran, helping sustain risk appetite despite persistent tensions in the region. The S&P 500 rose 1.05%, while the Nasdaq gained 1.64%. The Dow Jones Industrial Average added 340.65 points, or 0.69%. Trump said late Tuesday that the ceasefire extension was justified because Tehran’s government was “seriously fractured.” Even so, the broader geopolitical backdrop remained unstable. Vice President JD Vance reportedly paused plans to join peace talks after Iran showed little commitment, while Iranian state media said Tehran’s negotiators viewed talks with the U.S. as a “waste of time.”
• On Wednesday, Iran’s navy also said it had seized two container ships in the Strait of Hormuz. Investor sentiment was also supported by a strong start to earnings season. Of the 87 S&P 500 companies that have reported so far, 81% have beaten profit estimates, and 76% have topped revenue expectations. In after-hours trading, IBM and ServiceNow fell about 6% and 13%, respectively, after reporting results, while Tesla initially rose after posting better-than-expected earnings. Attention now turns to another busy session of corporate results, with Honeywell, American Express, Blackstone, American Airlines, and Lockheed Martin among the companies due to report Thursday. Investors will also be watching preliminary April readings on S&P Global manufacturing and services activity.

Bitcoin Tops $79K as Iran Tensions Ease

• Bitcoin climbed above $79,000 on Wednesday, reaching its highest intraday level since Feb. 2, as easing tensions around Iran revived demand for risk assets and helped fuel a rebound in crypto. The token remains well below its record high of $126,272.76, but it has recovered sharply from this year’s lows, rising 21.6% since its March 30 intraday trough, according to Dow Jones Market Data. Market participants pointed to a broad return of liquidity into bitcoin through several channels, including steady inflows into spot exchange-traded funds and continued buying by corporate holders. That support has helped distinguish the current advance from earlier rallies that proved more fragile. According to Simon-Peter Massabni, head of business development at XS.com, bitcoin ETFs have posted six straight days of net inflows, while bitcoin treasury companies have collectively bought about 60,000 coins over the past week.
• Strategy, one of the most prominent corporate holders, has acquired nearly 53,000 bitcoins in April alone. Institutional demand is being closely watched after its retreat helped accelerate the selloff late last year. This time, renewed inflows are helping underpin the recovery. Bitcoin has also shown relative resilience since the start of the Iran conflict. Some investors increasingly view the token as a store of value during periods of geopolitical stress, while its rebound alongside equities in April has reinforced the view that a more durable rally could take shape if tensions continue to ease. Analysts say a more definitive ceasefire could provide an additional catalyst by improving liquidity conditions and drawing more capital back into the asset class.

Stocks on the move:

• IBM (IBM): fell 6% after the company held its full-year guidance unchanged, overshadowing a first-quarter earnings and revenue beat.
• Tesla (TSLA): dropped more than 2% after Elon Musk warned that capital spending would rise sharply to support the company’s self-driving and humanoid robot plans. The stock had initially climbed after adjusted earnings beat estimates, though revenue came in light.
• CSX (CSX): gained 6% after first-quarter earnings topped expectations, even as revenue came in just below forecasts.
• Texas Instruments (TXN): surged 10% after issuing stronger-than-expected guidance for the current quarter and reporting first-quarter results that beat on both earnings and revenue.

Watchlist: TSLA, IBM, CXS, TXN, AXP, UNP, HON, LMT, GOOGL

Key Economic Events Today:

EST time

08:30 am: USD Flash Manufacturing PMI
08:30 am: USD Flash Services PMI


Earnings

BMC (Before Market Open): American Express Company (AXP), Thermo Fisher (TMO), NextEra Energy (NEE), Honeywell (HON), Lockheed Martin (LMT)

AMC (After Market Close): Intel Corp. (INTC), SAP SE (SAP)



The TEFS Analyst team wishes you a successful day!