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Thursday, April 16

Noteworthy macro moves today: Nikkei 225 Index (Japan) +2.3%. Hang Seng 50 Index (China) +1.7%. Noteworthy US mega-cap moves today: Microsoft Corp (MSFT) +1.4%. Broadcom Inc (AVGO) -0.7%. Berkshire Hathaway Inc (BRK.B) +0.1%. 

Global equity markets are trading higher following the release of stronger-than-expected economic data from the U.S., including a drop in initial jobless claims to 207K, which surpassed forecasts of a rise to approximately 215K. This positive labor market indicator has bolstered investor sentiment, contributing to gains across major indices.

Also released today, the Philadelphia Fed Manufacturing Index surged to 26.7 in April from a previous reading of 18.1, significantly exceeding expectations for a decrease to just 10.0. This unexpected growth in manufacturing activity signals robust demand and has further enhanced market confidence amid ongoing inflation concerns.

In Asia, the Nikkei 225 Index rose by approximately 2.3%, driven by optimism surrounding technology stocks and potential resolutions in geopolitical tensions affecting energy prices. The Hang Seng Index also gained around 1.7%, reflecting broader regional strength as investors reacted positively to both local and global economic developments.

iShares China Large-Cap ETF (FXI) [+1.3%]
China's economy has shown robust growth, accelerating to 5% in the first quarter, surpassing expectations and positively influencing the iShares China Large-Cap ETF. This growth was driven by strong exports, with urban fixed-asset investment and retail sales both increasing by 1.7% year-over-year. Industrial output also expanded notably by 5.7%. Despite a slight rise in the urban unemployment rate to 5.4%, these economic indicators have contributed to positive market sentiment surrounding the ETF. Additionally, the ETF's top contributors included TCOM, JD, LI, and YUMC, which collectively supported its performance. In pre-market hours, the ETF is trading higher following this positive economic news.

United States Oil Fund LP (USO) [+1.1%]
The recent Beige Book report from the Federal Reserve indicates a significant rise in energy and fuel costs across all districts, attributed to the ongoing conflict in Iran. This situation has led to increased prices for petroleum-based products, which directly impacts the United States Oil Fund LP. The report notes that oil prices have surged approximately 45% over the past year due to geopolitical tensions. Consequently, these developments are contributing to the positive price movement observed in the United States Oil Fund LP today. Despite this upward momentum, the fund is trading lower in pre-market hours, having retraced slightly since Wednesday's close, indicating some volatility amid broader market trends.

ABT | -4.0% | -6.7B
Abbott Laboratories | Health Care Equipment
Abbott Laboratories reported its Q1 2026 earnings, achieving an adjusted EPS of $1.15, slightly surpassing the estimate of $1.14, with revenues of $11.164 billion exceeding expectations of $10.998 billion. However, the company lowered its FY2026 adjusted EPS guidance to a range of $5.38 to $5.58, down from the previous forecast of $5.55 to $5.80, while analysts had anticipated $5.62. Additionally, Abbott expects Q2 2026 adjusted EPS between $1.25 and $1.31, below the estimated $1.37. Following the earnings announcement, Abbott's stock experienced a significant decline, trading sharply lower since Wednesday's close. The adjustments in guidance appear to have contributed to this negative price movement today.

PPG | +5.3% | +1.4B
PPG Industries Inc | Specialty Chemicals
PPG Industries Inc. has raised its first-quarter 2026 earnings per share (EPS) guidance, projecting GAAP EPS of $1.70 and adjusted EPS of $1.83, surpassing prior estimates of $1.71. This announcement coincides with a global price increase of up to 20% across its paints, coatings, and specialty products, aimed at addressing rising input and logistics costs amid market volatility. Additionally, PPG anticipates flat to low single-digit growth in organic sales and adjusted EPS for the second quarter year over year. These developments have contributed to a significant increase in the stock price, which is trading higher in pre-market hours, reflecting the positive earnings outlook and pricing adjustments.

GOLD | +4.1% | +3.4B
Barrick Gold Corp | Gold
Gold prices have risen, surpassing $4,800 an ounce, amid renewed hopes for diplomacy between the U.S. and Iran, which has alleviated inflation concerns and potential central bank tightening. This backdrop is supportive for Barrick Gold Corp, which has scheduled its fiscal third-quarter earnings call for May 6th at 4:30 p.m. ET, potentially attracting investor interest as the company prepares to update stakeholders on its performance under these market conditions. In pre-market trading, Barrick Gold Corp is sharply higher, continuing a recent trend of consecutive gains. Despite slight fluctuations in gold prices overnight, sentiment remains influenced by geopolitical factors and market expectations regarding U.S. Federal Reserve interest rate policies.

DDOG | +3.4% | +1.4B
Datadog Inc | Application Software
Datadog Inc is experiencing a notable increase in pre-market trading, influenced primarily by significant upward movements in the Application Software sub-sector. The company's stock has gained traction alongside broader sector dynamics, which are contributing to its robust performance. Additionally, an insider transaction involving the sale of 20,000 shares by Director Amit Agarwal at a price of $122.28 has garnered attention, occurring just over a week prior to the current market movement. This action may reflect confidence in the company's outlook. Furthermore, related companies such as Intuit Inc have also seen price increases, suggesting a positive sentiment within the sector. Overall, Datadog's performance today is positioned above its 20-day moving average, indicating a strong market backdrop.

BABA | +3.4% | +90.1B
Alibaba Group Holding Ltd | Broadline Retail
Alibaba Group Holding Ltd is advancing its artificial intelligence capabilities with the launch of new models, including "Happy Oyster," which generates 3D environments and interactive content. This initiative is part of a broader strategy to enhance monetization across its commerce and cloud services. The company aims to quintuple its AI and cloud revenue to $100 billion over the next five years, supported by internal restructuring efforts. At the recent China International Consumer Products Expo, Alibaba showcased AI applications designed to improve consumer experiences and merchant operations. Additionally, the firm is refining its cloud monetization strategy, including pricing adjustments for services such as DDoS protection. These developments highlight Alibaba's commitment to leveraging AI for operational efficiency and growth, with over 10,000 employees already utilizing its no-code platform "Meoo." The stock is trading higher in pre-market hours, reflecting these advancements.

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