Good news about technology stocks' earnings pushed up US stocks, and SUI soared more than 50% to become a new star in the crypto market

Meta and Microsoft Boost AI Confidence, Tesla Denies CEO Replacement Rumors, Cryptocurrencies Simultaneously Surge Strongly

On Thursday, US stocks rebounded strongly, benefiting from the outstanding financial reports of tech giants Meta and Microsoft, which reignited market confidence in the growth potential of artificial intelligence (AI). Tesla denied rumors of changing its CEO, and its stock price simultaneously recovered. On the other hand, the cryptocurrency market also experienced a wave of gains, with SUI rising by over 50% in the past 30 days, becoming the new market focus.

Tech Giants' Earnings Shine, US Stocks Strongly Rebound

On Thursday's trading day, all three major US stock indices closed in the green. The S&P 500 index rose by more than 1%, the Nasdaq Composite surged over 2%, and the Dow Jones Industrial Average rose by 366 points, an increase of about 1%. This rally was mainly driven by Meta and Microsoft, both of which delivered better-than-expected first-quarter financial reports.

Meta CEO Zuckerberg stated in the earnings call that the company "performed very well" and emphasized being prepared to face current macroeconomic challenges. Microsoft showed excellent performance in Azure cloud business, overall revenue, and profits, and released an optimistic outlook, sparking market buying. Microsoft's stock price soared 9% in a single day, Meta rose 6%, and AI concept stocks like Nvidia also gained 4%.

Investors Dismiss AI Concerns: "Just Entering the Explosive Period"

Although the market remains cautious about economic prospects, the medium to long-term development potential of AI continues to be viewed positively. Jed Ellerbroek, portfolio manager at Argent Capital Management, stated: "Even under Trump's trade policies, the AI field remains relatively resilient. We are now at the beginning of a very steep growth curve." This confidence has also driven the entire tech sector to stabilize and rebound, injecting vitality into the market, which had been low due to weak data in recent days.

Employment Data Casts Shadow, Economic Concerns Unresolved

Despite the stock market surge, the number of initial jobless claims released on Thursday reached 241,000, higher than the expected 225,000, throwing cold water on the market. This data, in line with the earlier GDP contraction of 0.3% this week, has intensified investors' concerns about economic slowdown.

The non-farm employment report to be released on Friday will be the market's focus and may influence short-term market sentiment.

Late April Trading Rebounds to Rescue Market, Nasdaq Monthly Line Turns Red

On Wednesday, the last trading day of April, despite early session declines due to poor GDP data, with the S&P 500 and Dow Jones Industrial Index falling over 2% and 780 points respectively, afternoon buying power strongly recovered, ultimately turning green. However, the overall performance in April was still unsatisfactory, with the S&P 500 and Dow falling 0.8% and 3.2% respectively, with only the Nasdaq closing higher by 0.9%.

This trend reflects that under political and economic pressures, some funds still choose to flow back to tech and growth assets.

Tesla Clarifies CEO Replacement Rumors, Stock Price Rebounds

Tesla's stock price rose over 2% on Thursday, mainly because the company denied a Wall Street Journal report claiming the board is seeking candidates to replace Musk. Tesla Board Chair Robyn Denholm immediately clarified on platform X: "Media reports that Tesla has initiated a CEO search procedure are completely false."

This clarification eased market concerns about management instability and temporarily stabilized Tesla's stock price.

Cryptocurrencies Surge, SUI Becomes the Focus

Along with tech stocks, the overall cryptocurrency market also heated up. Bitcoin (BTC) is currently trading at $96,946.27, up 3.15% in the past 24 hours, with a cumulative monthly gain of 15.02%. Ethereum (ETH) recovered to $1,849.07, with a daily increase of 4.76%, though still slightly down 2.06% for the month.

The biggest highlight is the emerging project Sui (SUI), currently priced at $3.74, with a single-day surge of 10.03%. Its weekly and monthly gains are even more impressive at 15.84% and 52.71%, becoming the hot topic in the recent crypto market.

Other mainstream cryptocurrencies also saw gains, with Solana (SOL) rising 7.53%, XRP up 3.72%, and Doge increasing by 6.73%. This wave of growth shows that despite macro uncertainties, market funds are actively flowing into blockchain and AI application projects with high growth potential.