Tech Stocks Drive Pre-Market Gains; Oil Slides

Thursday, April 16, 2026 · 2 takes, written as the session ran and never edited after.

The setup

Overnight tape, futures and the day's calendar · filed 20:18 ET

So here's the deal: The S&P 500 is set to open a bit higher today, with futures indicating a 0.26% rise, putting it at 7041.28. The Nasdaq is also up, climbing 0.36% to 24102.70. This uptick is largely thanks to strong performance in tech stocks like NVDA and TSM, which are riding high on AI demand. Meanwhile, oil is making headlines, with WTI sliding down 1.81% to $89.64—something to keep an eye on if you're in the energy sector. Overnight, global markets were mixed. Europe is treading water, while Asia saw modest gains. The real buzz, though, is around TSMC, which just reported a 58% profit surge thanks to AI demand, sending bullish signals across multiple newsletters. TSM is on your watchlist, and with the stock now trading around $365, it's one to watch closely today. On the calendar, it's a mixed bag. We have some key economic data coming out this morning, including U.S. retail sales and industrial production numbers. These will give us a better read on consumer spending and economic health. Plus, earnings from major companies like TSLA and GOOGL are set to drop soon, which could shake things up. A quick heads-up: Yields are creeping up again. The 10-year Treasury yield is at 4.31%, up 0.63% overnight. Rising yields could put pressure on growth stocks, so keep an eye on your tech-heavy watchlist, including AAPL and AMZN. Speaking of AMZN, there's conflicting sentiment—some say it's bullish on business expansion, others point to challenges in data center plans.

What it was watching

The close

What the tape actually did · filed 20:19 ET

So here's the deal: The S&P 500 inched up 0.26% to close at 7,041, while the Nasdaq gained 0.36% to hit 24,102. The Dow wasn't far behind, up 0.24% at 48,578. Today’s market action was primarily driven by strong earnings from TSMC, which reported a 58% profit surge fueled by AI demand, setting a bullish tone for tech. TSMC's bullish earnings didn't just lift its own shares; it seemed to pull up tech stocks across the board. With AI continuing to be the buzzword, TSM ($365.65) saw positive sentiment across multiple newsletters, reinforcing its growth potential. This comes as a bright spot amid mixed signals for other tech giants like Amazon, which faced conflicting reports on its growth outlook. In commodities, Brent crude surged 3.26% to $98.02, contrasting with WTI oil, which dipped 1.81% to $89.64. The divergence was partly due to supply concerns in Europe driving Brent higher, while domestic inventory increases pressured WTI. Meanwhile, gold ticked up slightly to $4,810, aligning with a modest rise in 10-year Treasury yields to 4.309%. Looking at newsletter signals, Ciena Corp. (CIEN) also caught attention with multiple bullish calls, indicating strong demand and potential gains. However, PayPal (PYPL) faced headwinds with a downgrade from Mizuho, suggesting more downside risk.

What it was watching

Elsewhere that session

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