Friday's Dow Rises Over 100 Points, Heading For Its Best Monthly Gain Since January

In a move towards its best month since January, the Dow Jones Industrial Average increased on Friday.

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There was a 0.5% gain for the blue-chip index, and a 0.4% gain for the S&P 500 index. Technology earnings weighed on the Nasdaq Composite as it fluctuated around its flatline.

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Dow Jones is on track to end April 2.1% higher with just Friday's session remaining. It would be the average's best monthly showing since January when it increased by 2.8%. For the month of August, the S&P 500 is on track for a 0.9% gain, while the Nasdaq is expected to decline by 0.7%.

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In what has been considered Big Tech's marquee earnings week, the Nasdaq is expected to gain the most, at 0.5%. However, the Dow is expected to gain 0.4% and the S&P 500 is expected to gain 0.3%.

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There have been earnings reports from just over half of the companies in the S&P 500 so far. According to FactSet data, 80% of those companies have exceeded expectations. According to The Earnings Scout, that beat rate is close to the average for the last three years.

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Bolvin Wealth Management's Gina Bolvin said the market follows earnings. "That's the mother's milk of the market.".

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Amazon shares dropped about 4% after announcing first-quarter results. Wall Street expected Amazon to beat expectations on revenue, but its cloud business decelerated.

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Following a revenue miss, Snap fell nearly 18%. Following disappointing revenue growth expectations for the second quarter, Pinterest shares fell over 17%. Following a disappointing first quarter, First Solar stock dropped over 13%, putting it on pace for its worst day since 2021.

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Following their respective releases, not all tech stocks fell. The semiconductor firm beat both top and bottom line expectations, sending its shares up about 5%.

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A 0.3% rise in personal consumption expenditures prices in March was in line with expectations, according to data released Friday morning. Next week, the Federal Reserve will hold a policy meeting to discuss the index's role in measuring inflation.

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Investors continue to be influenced by earnings, economic data, and the Fed, according to Greg Bassuk, CEO of AXS Investments.

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In addition, First Republic Bank shares plunged more than 50% after it has been reported that the Federal Deposit Insurance Corporation is most likely to take receivership of the troubled regional bank. Over 97% of its value has been lost since the start of the year.

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