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Live Nasdaq Composite: AVGO (Nasdaq: AVGO) Rises, PEP Falls in Mixed Market Showing

Gerelyn Terzo

Published: April 24, 2025 10:24 am

Last Updated: April 24, 2025 3:42 pm

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Big Tech Power

3:43 pm by Gerelyn Terzo

All three of the major stock market averages are holding onto gains, led by a 2.4% pop in the Nasdaq Composite. Mag Seven stocks are continuing to power the Nasdaq Composite higher, including gains of 3% for Nvidia (Nasdaq: NVDA) and Microsoft (Nasdaq: MSFT), though both stocks are lower over the past five-day stretch. The markets are anxiously awaiting quarterly results from Google parent company Alphabet (Nasdaq: GOOGL).

Wolfe Research published a report warning that the S&P 500 could revisit the 3,700 level on the low side and 4,100 in a best-case scenario during even the mildest of economic recessions. The forecast suggests the broader market index could fall anywhere from 30% and 37% from current levels.

Tech Bump

12:35 pm by Gerelyn Terzo

Technology stocks are leading the markets higher today, sending the Nasdaq Composite 2.1% ahead. The Dow Jones Industrial Average and S&P 500 aren’t too far behind, with gains of about 1% and 1.6%, respectively. Stocks are higher on a combination of tariff deal hopes, earnings results and strong economic data. Durable goods orders rose by 9.2% in March as companies sought to place equipment orders before any tariff-related costs kicked in. All eyes are on Google parent Alphabet (Nasdaq: GOOGL), which is expected to report its quarterly results after the closing bell today. Stay tuned!

Markets Turn Green

10:24 am by Gerelyn Terzo

All three of the major stock market averages are now in the green, led by a 1.4% jump in the tech-powered Nasdaq Composite. Chip stocks are the winners of the day on positive sentiment from Wall Street analysts. The housing sector had some disappointing data today as home sales plunged by nearly 6%, revisiting 2009 levels. Here’s a look at where things stand:

Dow Jones Industrial Average: Up 148.19 (+0.37%)
Nasdaq Composite: Up 259.29 (+1.5%)
S&P 500: 11.57: Up 54.10 (+1.0%)

The markets have reverted back to uncertainty until there is further clarity on global trade deals. After yesterday’s winning session, the major stock market averages are a mixed showing, with technology stocks buoying the Nasdaq Composite and S&P 500 higher while the Dow Jones Industrial Average is retreating. Consumer staples are the worst performing sector, with a 1.3% decline, pressured by a 2% drop in PepsiCo (Nasdaq: PEP). Tech stocks are out front, including chip companies like Broadcom (Nasdaq: AVGO), Intel (Nasdaq: INTC) and Texas Instruments (Nasdaq: TXN) on bullish analyst commentary this week out of KeyBanc, which believes there’s 30%-40% upside left in the sector. 

Durable goods orders skyrocketed by 9.2% in March, far exceeding estimates of 1.6%, as companies raced to place orders before tariffs took effect. Results were led by transportation equipment orders, which soared by 27% last month. In other economic data, home sales plummeted by 5.9% in March, revisiting levels not seen since the Great Financial Crisis.

Here’s a look at the performance as of morning trading:

Dow Jones Industrial Average: Down 208.48 (-0.53%) 
Nasdaq Composite: Up 90.82 (+0.54%) 
S&P 500: 11.57 (+0.23%) 

Market Movers

PepsiCo is losing 2% on the day after lowering its growth outlook on tariff volatility. The company reported a 1.8% decline in revenue to $17.9 billion, topping analyst estimates. PEP stock is trading at the low end of its 52-week range.

Software stock ServiceNow (NYSE:NOW) stock is rising over 12% today after surpassing Wall Street estimates on both the top and bottom lines.  

IBM (NYSE: IBM) is falling a steep 5.8% today despite surpassing quarterly earnings estimates on strong demand. IBM has been an outlier in the technology sector this year, rising 4.5%, suggesting today’s selling could just be chalked up to profit taking. On the flip side, IBM is experiencing some weakness in its consulting business.