{"id":61252,"date":"2026-04-24T14:59:09","date_gmt":"2026-04-24T18:59:09","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-surge-propels-nasdaq-as-dow-lags-maxlinear-skyrockets-amid-busy-earnings-friday\/61252\/"},"modified":"2026-04-24T14:59:09","modified_gmt":"2026-04-24T18:59:09","slug":"tech-surge-propels-nasdaq-as-dow-lags-maxlinear-skyrockets-amid-busy-earnings-friday","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/tech-surge-propels-nasdaq-as-dow-lags-maxlinear-skyrockets-amid-busy-earnings-friday\/61252\/","title":{"rendered":"Tech Surge Propels Nasdaq as Dow Lags; MaxLinear Skyrockets Amid Busy Earnings Friday"},"content":{"rendered":"

As the final trading session of the week unfolds this Friday, April 24, 2026, the U.S. equity markets are witnessing a significant divergence between old-economy stocks and the high-growth technology sector. In afternoon trading, investors are navigating a complex landscape defined by a massive surge in semiconductor shares and a flurry of quarterly earnings reports, even as the blue-chip Dow Jones<\/a> Industrial Average struggles to find positive territory.<\/p>\n

Major Indexes Show Mixed Results<\/h2>\n

The tech-heavy NASDAQ (^IXIC<\/a>) is the clear standout today, surging by 360.68 points, or 1.48%, to reach 24,799.19. This bullish momentum is largely driven by a renewed appetite for artificial intelligence and hardware names. Following closely is the S&P 500<\/a> (^GSPC<\/a>), which has gained 48.95 points, or 0.69%, to trade at 7,157.35.<\/p>\n

In contrast, the Dow Jones Industrial Average (^DJI<\/a>) has retreated, shedding 125.54 points, or 0.25%, to sit at 49,184.78. The underperformance in the Dow suggests a rotation out of defensive and industrial value plays into growth-oriented sectors. Meanwhile, the small-cap Russell 2000 (^RUT<\/a>) is posting modest gains of 0.56%, currently at 2,790.71. Market volatility, as measured by the VIX (^VIX<\/a>), has plummeted by 3.94% to 18.55, indicating a cooling of investor anxiety despite the mixed index performance.<\/p>\n

Sector Performance: Semiconductors and Cannabis Lead the Way<\/h2>\n

The afternoon session has been dominated by a blistering rally in the Semiconductor sector. The Semiconductor ETF (SMH<\/a>) is up a staggering 5.21%, supported by strong bullish volume and momentum. This strength has lifted the broader Technology sector (XLK<\/a>) by 2.78%. Perhaps the most surprising move of the day comes from the Cannabis sector (MSOS<\/a>), which has jumped 12.44%, though technical indicators suggest this may be a volatile reversal.<\/p>\n

On the downside, the Energy sector is feeling the heat as Crude Oil Futures (CL=F<\/a>) dropped 1.77% to $94.15 per barrel. Consequently, the Energy – Oil ETF (USO<\/a>) is down 2.07%. Aerospace & Defense (ITA<\/a>) and Natural Gas (UNG<\/a>) are also underperforming, falling 1.75% and 1.85% respectively.<\/p>\n

Corporate News and Premarket Movers<\/h2>\n

The individual stock story of the day belongs to MaxLinear, Inc. (MXL<\/a>), which has seen its share price skyrocket by 54.0% to $59.48. The move comes amid high trading volume and positive sentiment surrounding the semiconductor space. Other notable gainers include Elong Power Holding Limited (ELPW<\/a>), up 46.1%, and AEye, Inc. (LIDR<\/a>), which has climbed 32.5%.<\/p>\n

On the earnings front, several heavyweights reported results before the opening bell. The Procter & Gamble Company (PG<\/a>) reported Q3 earnings with an estimated EPS of $1.57, while HCA Healthcare Inc. (HCA<\/a>) posted results against a high estimate of $7.19 per share. SLB Limited (SLB<\/a>) and Norfolk Southern Corporation (NSC<\/a>) also updated investors on their quarterly performance, contributing to the mixed sentiment in the industrial and energy sectors.<\/p>\n

Conversely, Auddia Inc. (AUUD<\/a>) has seen a precipitous decline, falling 60.5%, while Skillz Inc. (SKLZ<\/a>) dropped 30.9% following its latest updates.<\/p>\n

Upcoming Market Events to Watch<\/h2>\n

As the market heads toward the weekend, investors are already bracing for a "Super Week" of earnings starting Monday. The focus will shift heavily toward Big Tech and consumer staples. On Monday, April 27th, Verizon Communications Inc. (VZ<\/a>) and Domino's Pizza Inc (DPZ<\/a>) are scheduled to report.<\/p>\n

However, the real test for the current market rally will arrive mid-week. On Tuesday, Alphabet Inc. (GOOGL<\/a>) and Microsoft Corporation (MSFT<\/a>) will release their results after the close, followed by Apple Inc. (AAPL<\/a>) on Thursday. These reports, combined with upcoming economic data on inflation and policy hints from the Federal Reserve, will likely determine if the Nasdaq can maintain its record-breaking trajectory or if the broader market will succumb to the gravitational pull currently affecting the Dow.<\/p>\n","protected":false},"excerpt":{"rendered":"

As the final trading session of the week unfolds this Friday, April 24, 2026, the U.S. equity markets are witnessing […]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"rank_math_schema_Article":[],"rank_math_focus_keyword":[],"rank_math_description":[],"financial_data_references":[],"stock_symbols_mentioned":[],"footnotes":""},"categories":[94,6824],"tags":[4380,33,5027,95,113,225,3710,3768,3785,4223,4350],"class_list":["post-61252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-update","category-featured","tag-stock-market","tag-msft","tag-semiconductors","tag-nasdaq","tag-mxl","tag-aapl","tag-federal-reserve","tag-googl","tag-pg","tag-inflation","tag-dow-jones"],"_links":{"self":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61252","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/comments?post=61252"}],"version-history":[{"count":0,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/posts\/61252\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media\/50312"}],"wp:attachment":[{"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/media?parent=61252"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/categories?post=61252"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/wp-json\/wp\/v2\/tags?post=61252"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}