Friday, April 24

U.S. equity indexes showed modest gains in a choppy session on Friday, with the S&P 500 closing at 5,815, up 0.4%, and the Nasdaq Composite advancing 0.6% to 18,320, buoyed by strength in technology and select earnings beats. Stanley Black & Decker (SWK) rose 2.79% to $73.33, Moderna (MRNA) climbed 2.53% to $55.08, and Brown-Forman (BF-B) gained 2.40% to $29.84 amid broader market rotation. Internationally, Europe's STOXX 600 edged up 0.2%, while Japan's Nikkei 225 dipped 0.3% on yen strength.

Treasury yields held steady, with the 10-year note at 4.35%, reflecting balanced views on Federal Reserve rate cuts amid sticky inflation data. The U.S. dollar index slipped 0.3% to 105.20 as the euro strengthened on ECB policy signals. Commodities were firm, oil (WTI) settling at $82.50 per barrel, up 1.1% on supply concerns, and gold reaching $2,650 per ounce, a 0.8% rise as a safe-haven amid geopolitical tensions. Bitcoin hovered near $95,000, little changed after recent volatility.

Corporate earnings dominated, with Cleveland-Cliffs (CLF) slipping despite a Q1 profit beat due to elevated energy costs overshadowing steel demand recovery, while QXO fell post-acquisition of TopBuild for insulation sector expansion. Macro focus remained on U.S. PCE inflation and nonfarm payrolls previews, tempering risk appetite.

Traders eye Monday's opening for Asia-Pacific reaction, upcoming Fed speeches, and flash PMIs from Europe and U.S. for rate path clues.