Expectations

Many analysts view company’s financial performance as a broader referendum on AI buildoutNvidia continued its years-long streak of beating Wall Street’s expectations for growth on Wednesday, reassuring most investors that the AI boom, particularly the global explosion of datacenters, will continue apace.“The buildout of AI factories – the largest infrastructure expansion in human history – is accelerating at extraordinary speed,” said Nvidia’s CEO, Jensen Huang, in a statement. “Agentic AI has arrived, doing productive work, generating real value, and scaling rapidly across companies and industries.” Continue reading...

• Expected S&P 500 earnings growth for Q1 has doubled to 28% since early April, fueled by upward revisions across sectors. • Mega-cap tech stocks, dubbed the 'Magnificent Seven,' account for 55% of quarterly and 37% of annual growth, comprising a third of index market cap. • This momentum propelled the S&P 500 to a 10% gain in April, its best month since November 2020, amid AI-driven revenues.

• ExxonMobil and Chevron both surpassed profit expectations in their latest quarterly reports. • Shares of the energy majors remained muted despite the beats, pressured by Iran's submission of a new agreement proposal to the US for resuming Persian Gulf oil exports. • The developments contributed to a broader pullback in oil prices, supporting gains in US equities.

Company reported $111.2bn in revenue in first earnings report after announcement of Cook’s pending departureApple blew past Wall Street expectations in its first earnings report since it announced CEO Tim Cook would be stepping down.Cook reported Apple’s “best March quarter ever” and “double-digit growth across every geographic segment”. He also noted “extraordinary demand for the iPhone17 lineup”. Continue reading...

• An undisclosed major corporation reported a significant top and bottom line beat, demonstrating stronger-than-expected financial performance in its latest earnings announcement. • The company reaffirmed its full-year earnings forecast and reiterated long-term growth targets of 9% annual growth through 2027, followed by growth from 2027 through 2030. • The earnings beat and maintained guidance suggest management confidence in sustained profitability and operational execution.

• The 10-year U.S. Treasury yield climbed to 4.52% Thursday following stronger-than-anticipated producer price inflation data released by the Labor Department, pushing expectations for prolonged higher rates. • Market participants reassessed bets on future rate cuts after Fed speakers emphasized the need for additional months of restrictive policy to bring inflation back toward target levels. • The yield curve steepened significantly, with the 2-year-10-year spread widening to 87 basis points, reflecting growing uncertainty about the timing and magnitude of eventual rate cuts.

• The Federal Open Market Committee met on March 17–18, 2026, noting uncertainty in the economic outlook with options markets pricing a 30% probability of rate hikes early next year. • Broad equity indexes declined sharply while S&P 500 one-month volatility rose, driven by investor concerns over Middle East developments weakening confidence. • Financing conditions stayed restrictive for households, small businesses, and commercial real estate due to high costs and tight underwriting, though corporate debt spreads remained narrow.