US stock markets rose on positive earnings from mega-cap technology corporations. The SPX Futures market is up by about 0.4% and is trading around $4095 in the European trading session, The Nasdaq rose by about 0.8% and the Dow Jones gained 0.2%:

Freepik

• Meta platforms soared about 11% after the New York market closed as the company reported higher-than-expected revenue for the first Quarter.
• Microsoft rose by about 7.2% on better earnings than expected.
• First Republic bank dropped another 29% as the bank considers selling about $100 billion worth of assets as a rescue plan as concerns about the banking sector resurfaced.
• Thursday’s companies to report: Amazon, Intel and Eli Lilly to mention the majors.
• Investors monitor the upcoming economic data: US GDP, weekly jobless claims and the pending home sales to conclude further details about the rate-hike path.

More to know for this day:

• Russia’s industrial production rose 1.2% and the Manufacturing was up by about 6% with 30% of finished metal goods, due to the military production.
• The UK prevented a deal where Microsoft would purchase Activision Blizzard, a gaming company.

The daily interval of the E-mini S&P 500 auctioned back into the Year’s developing value area and concluded a bearish imbalanced market for the moment, may target the Year’s VWAP as pullback for core buyers to add their median- to long-term positions. Buyers may percept the prior selling tails back from March as supportive.

See also

Major Technology Corporations About To Report Earnings: US Stock Markets

Looking at the TPO profile structure, we can identify a p-shaped profile to conclude potential selling around its POC close level, depending on the perception of the market participants and the outcome of the mentioned economic data and the conclusions about the rate-hike path. Negative data might impact the order flow with positive auction while data which may tending to point to growth could be seen as bearish for the particular market. 

More By This Author:

Gold Rose By Weaker US Dollar And Higher Demand
US Stock Markets: Major Technology Corporations About To Report Earnings
Crude Oil Demand Weakening Due To Economic Concerns