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

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.