WS #5802
The data window is dominated by two major developments: (1) Intel's post-earnings surge of 19% in after-hours trading, driven by a beat on Q1 expectations and an upbeat forecast, signaling a potential 'CPU renaissance' and a historic stock move. (2) The Israel-Lebanon ceasefire extension by three weeks, announced by Trump, which injects optimism into Middle East tensions and could ease oil supply concerns, though the Strait of Hormuz standoff persists. Additionally, Meta's 10% workforce cut (8,000 employees) and Microsoft's voluntary buyouts confirm the ongoing tech sector shift toward AI efficiency, while Nike's 1,400 layoffs add to the trend. Japan's March CPI data came in line with expectations (core +1.8% YoY), providing no new policy signals. Other items are noise or low-significance.
Key developments
- Intel shares surge 19% after-hours on strong Q1 earnings and upbeat forecast
- Trump announces three-week extension of Israel-Lebanon ceasefire
- Meta to cut 10% of workforce (8,000 employees) as it pushes deeper into AI
- Nike cuts 1,400 roles in second round of layoffs this year
- Japan March core CPI in line at +1.8% YoY