finalfightarcade| Does good earnings boost market confidence? The artificial intelligence craze continues

On Friday, the core personal consumer price index (PCE) released in the United States for March was generally in line with expectations, and boosted by positive earnings news from Google's parent alphabet and Microsoft and other technology giants, the three major US stock indexes opened higher and kept rising on the day. The Dow rose by 0.Finalfightarcade.40%, the S & P 500 index rose 1.Finalfightarcade.02%, the Nasdaq index, which is dominated by technology stocks, rose the highest, reaching 2.03%. On the sector side, six of the top 11 sectors of the S & P 500 rose, with communications services and technology rising 4.70% and 1.85%, respectively.

The three major U.S. stock indexes rose this week, with the Dow up 0.67%, the S & P 500 up 2.67% and the Nasdaq up 4.23%, ending two consecutive weeks of losses. The S & P and Nasdaq posted their biggest weekly gains since November. In addition, the international gold price closed up 0.20% on the 26th. On Friday, the US core PCE index for March showed that US inflation rose at an expected rate, while international gold prices held on to the previous day's rally. By the end of the day, gold futures for June on the New York Mercantile Exchange closed at $2347.20 an ounce, up 0.2%. However, it is down 2.76% this week.

In addition, a number of American technology giants have released positive results, and the popularity of artificial intelligence has not diminished. After Thursday's trading, Google's parent alphabet reported a 15% year-on-year increase in first-quarter revenue and a 57% year-on-year increase in net profit. The company paid a dividend for the first time and said it would buy back more than $70 billion in shares. By the close of trading on the 26th, the company's share price closed up 9.97%. Microsoft's revenue exceeded expectations in the third quarter, and artificial intelligence accelerated revenue growth in its cloud services business. Microsoft shares closed up 1.82% at the close. The results of Google's parent company and Microsoft show that the artificial intelligence boom that has driven up technology stocks continues. On the data side, the latest data released by the US Department of Commerce show that the core PCE index rose 0.3 per cent month-on-month in March, excluding volatile food and energy prices, up 2.8 per cent from a year earlier.

The data, the Fed's preferred inflation target, showed little sign of slowing in March, adding to concerns about price pressures. However, this is unlikely to change market expectations that the Fed will not cut interest rates until September. The market expects the Fed to keep interest rates unchanged at its monetary policy meeting next week. In the foreign exchange market, the Bank of Japan decided to maintain the current monetary policy, hinting that it will maintain monetary easing. After the news, the yen fell sharply against the dollar, falling below the 158 yen to the dollar mark, once again refreshing a 34-year low.

In addition, there was no sign of a slowdown in inflation in the core US PCE index in March, while the intraday gain in the dollar index expanded, driving the yen weaker. As of Friday's close, the yen closed at 158.33 yen to the dollar. International oil prices rose on concerns about tensions in the Middle East, ending a two-week decline. By the close of the day, the futures price of light crude oil for June delivery on the New York Mercantile Exchange was up 0.34%, and the futures price of Brent crude oil in London was up 0.55%. Judging from the weekly line, the main contract price of light crude oil futures on the New York Mercantile Exchange rose 0.85%, and the main contract price of Brent crude oil futures in London rose 2.53%.

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