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Bolsonaro Arrested in Brasília Before Supporters’ Vigil

  A supporter of Brazil's former President Jair Bolsonaro holds a Brazilian flag, outside the Brazilian Federal Police Regional Headquarters, where Bolsonaro was taken after being placed in police custody as a preventative measure. Former Brazilian president Jair Bolsonaro was taken into federal police custody on Saturday, just days before he was set to begin serving a 27-year prison sentence for plotting a coup attempt following his 2022 election defeat. The arrest occurred in Brasília, where supporters had planned a vigil outside his residence. Bolsonaro had been under house arrest since August, confined to his home while appealing a Supreme Court conviction. Justice Alexandre de Moraes, who oversees the case, ordered the detention citing concerns that a gathering of supporters could obstruct police monitoring. Authorities also noted evidence of tampering with Bolsonaro’s electronic ankle bracelet, raising suspicions of a possible escape attempt. The former president’s lawyer,...
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Stock Market Today: S&P 500 and Nasdaq Surge as Tesla Leads Earnings Rally

 

In today’s stock market, the S&P 500 and Nasdaq Composite made significant gains, fueled by a fresh wave of earnings reports. Here are the highlights:

  1. S&P 500 Rebounds: The benchmark S&P 500 (^GSPC) rose more than 1% after staging a comeback from a six-day run of losses in the previous session. Investors are optimistic about tech-focused companies’ earnings, which could help pull stocks out of the slump they’ve faced since the start of the year.

  2. Tesla’s Impact: Tesla (TSLA), often referred to as one of the “Magnificent Seven,” is in the spotlight. The electric vehicle (EV) maker’s earnings report is highly anticipated, given its weight in the S&P 500 index. Tesla’s shares have faced headwinds due to a disappointing delivery outlook, the cancellation of plans for a sub-$30,000 model, and a shift in strategy toward robotaxis. As the first major tech company to report this week, Tesla’s results set the stage for other giants like Meta (formerly Facebook), Microsoft, and Alphabet.

  3. Other Earnings: Legacy automaker General Motors (GM) kicked off earnings season with strong first-quarter results and an upward revision to its full-year guidance. GM’s shares rose around 5%. Meanwhile, Spotify (SPOT) stock jumped after the audio streaming company swung to a profit, beating expectations.

  4. Market Bottom? Fundstrat’s head of research, Tom Lee, suggests that US stocks may be near a market bottom. Elevated inflation expectations and hedge fund short interest surging to 2022 levels are among the signs. Lee points to technical levels for the S&P 500 to watch: 5019.02 (a positive sign if surpassed) and 4953.56 (a potential setup for a buy signal).

Overall, today’s market performance reflects optimism driven by earnings reports and the anticipation of tech giants’ results. Keep an eye on Tesla and other major players as they continue to shape market sentiment.


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