US close: Stocks mixed as traders digest corporate updates, falling oil prices

(Sharecast News) - Major indices turned in a mixed performance on Friday as markets participants digested another batch of corporate earnings and developments in the Middle East.

At the close, the Dow Jones Industrial Average was down 0.31% at 49,499.27, while the S&P 500 advanced 0.29% to 7,230.12 and the Nasdaq Composite saw out the session 0.89% firmer at 25,114.44.

The Dow closed 152.87 points lower on Friday, taking a bite out of solid gains recorded in the previous session.

Tech giant Apple traded higher on Friday after issuing a strongerthanexpected revenue outlook for the current quarter, alongside fiscal secondquarter earnings and sales that topped forecasts. Apple reported earnings per share of $2.01 each, ahead of the $1.95 expected, with revenue rising to $111.18bn versus consensus estimates of $109.66bn.

In terms of Friday's earnings, Exxon Mobil and Chevron posted sharply lower firstquarter profits despite the recent surge in crude prices driven by the US and Israel's conflicy with Iran, with America's two largest oil firms reporting steep yearonyear declines in earnings. Exxon's net income fell 45%, while Chevron's dropped 36%, though both companies still managed to beat Wall Street expectations.

ColgatePalmolive posted an 8.4% rise in firstquarter net sales to $5.3bn, slightly ahead of market expectations, while Moderna also beat forecasts for firstquarter revenue, supported by strongerthanexpected international demand for its Covid19 vaccine, and Est�e Lauder delivered betterthanexpected thirdquarter results, reporting adjusted earnings of $0.91 per share against consensus of $0.65 on revenues rose to $3.71bn, up 5% yearonyear and marginally above forecasts.

Elsewhere, Middle East tensions were in focus yet again, with oil prices falling after Iran reportedly sent its response to the latest US amendments to a draft agreement to end their conflict via Pakistani mediators. West Texas Intermediate futures fell 2.52% to $102.42 a barrel, while international benchmark Brent crude futures slid 1.39% to $108.87 a barrel. However, Donald Trump later said the he was displeased with Tehran's newest offer, saying that the country "wants to make a deal, but I'm not satisfied with it".

On the macro front, the S&P Global manufacturing PMI was upwardly revised to 54.5 in April, up from the earlier flash reading of 54.0 and ahead of March's 52.3 print - marking the sector's strongest expansion since May 2022. New orders rose at the fastest pace in four years, even as exports fell for an eleventh straight month amid tariff pressures and the Middle East conflict, while output growth accelerated to its strongest level since April 2022, supported by stockpiling as firms moved to cushion rising price and supply pressures linked to the conflict.

Meanwhile, the Institute for Supply Management's manufacturing PMI held steady at 52.7 in April, matching March's level and remaining at its highest since August 2022, even though it came in just below market expectations for a slight expansion to 53.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Intel Corp. (INTC) $99.62 7.06%

Apple Inc. (AAPL) $280.14 4.36%

Salesforce.Com Inc. (CRM) $183.82 4.13%

Merck & Co. Inc. (MRK) $112.16 2.73%

Cisco Systems Inc. (CSCO) $91.85 2.29%

Microsoft Corp. (MSFT) $414.44 0.78%

International Business Machines Corporation (CDI) (IBM) $232.20 0.53%

Verizon Communications Inc. (VZ) $48.11 0.17%

Procter & Gamble Co. (PG) $147.26 0.12%

Nike Inc. (NKE) $44.40 0.09%

Dow Jones - Fallers

Amgen Inc. (AMGN) $329.82 -3.83%

3M Co. (MMM) $142.50 -2.74%

McDonald's Corp. (MCD) $286.64 -2.37%

Home Depot Inc. (HD) $323.88 -1.50%

Chevron Corp. (CVX) $190.63 -1.39%

Johnson & Johnson (JNJ) $227.19 -1.16%

American Express Co. (AXP) $319.68 -1.04%

Boeing Co. (BA) $227.38 -0.72%

Walt Disney Co. (DIS) $103.08 -0.65%

Visa Inc. (V) $328.03 -0.55%

S&P 500 - Risers

Seagate Technology Plc (STX) $726.93 11.40%

Illumina Inc. (ILMN) $135.78 9.61%

Skyworks Solutions Inc. (SWKS) $69.40 8.71%

Advanced Micro Devices Inc. (AMD) $360.54 7.20%

Intel Corp. (INTC) $99.62 7.06%

Qorvo, Inc. (QRVO) $93.50 6.77%

QUALCOMM Inc. (QCOM) $177.01 6.75%

Oracle Corp. (ORCL) $171.83 6.47%

Ipg Photonics Corp. (IPGP) $122.87 6.14%

Eastman Chemical Co. (EMN) $77.53 6.07%

S&P 500 - Fallers

Clorox Co. (CLX) $87.11 -9.67%

LKQ Corporation (LKQ) $28.51 -9.29%

Stryker Corp. (SYK) $294.73 -6.47%

Mohawk Inds Inc. (MHK) $99.93 -5.33%

CH Robinson Worldwide Inc (CHRW) $177.30 -5.33%

Nvidia Corp. (NVDA) $198.45 -4.41%

Resmed Inc. (RMD) $205.02 -4.11%

Bristol-Myers Squibb (BMY) $58.22 -3.91%

Amgen Inc. (AMGN) $329.82 -3.83%

FMC Corp. (FMC) $14.82 -3.64%

Nasdaq 100 - Risers

Seagate Technology Plc (STX) $726.93 11.40%

Illumina Inc. (ILMN) $135.78 9.61%

Skyworks Solutions Inc. (SWKS) $69.40 8.71%

Intel Corp. (INTC) $99.62 7.06%

QUALCOMM Inc. (QCOM) $177.01 6.75%

Sirius XM Holdings Inc (SIRI) $27.22 6.41%

eBay Inc. (EBAY) $104.07 5.97%

Liberty Global plc Series C (LBTYK) $11.77 5.85%

Cadence Design Systems Inc. (CDNS) $340.94 5.81%

Tesla Inc (TSLA) $390.82 5.78%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Check Point Software Technologies Ltd. (CHKP) $114.51 -6.45%

Nvidia Corp. (NVDA) $198.45 -4.41%

Amgen Inc. (AMGN) $329.82 -3.83%

Biogen Inc (BIIB) $187.06 -3.49%

Verisk Analytics Inc. (VRSK) $181.11 -3.05%

Incyte Corp. (INCY) $96.91 -3.05%

Cognizant Technology Solutions Corp. (CTSH) $52.43 -3.05%

Cintas Corp. (CTAS) $169.61 -2.69%

O'Reilly Automotive Inc. (ORLY) $96.67 -2.35%