--- title: "Stock Market Today: April 30, 2024" description: The major U.S. indexes got the week off to a favorable start. However, the futures are suggesting a modestly negative open for today’s session, as stocks remain on course for their first losing month since last October. In overnight trading, markets in Asia closed mostly higher, led by a 1.2% gain for Japan’s NIKKEI. image: https://investor.valueline.com/hubfs/social-suggested-images/iStock_000006488152XSmall-358.jpg --- [![The Value Line Blog](https://investor.valueline.com/hubfs/VL%20Blog%20Images/vl_blog_header.png)](https://investor.valueline.com/blog) [Stock Market Today](https://investor.valueline.com/blog/topic/stock-market-today) # Stock Market Today: April 30, 2024 April 30, 2024 The major U.S. indexes got the week off to a favorable start. However, the futures are suggesting a modestly negative open for today’s session, as stocks remain on course for their first losing month since last October. In overnight trading, markets in Asia closed mostly higher, led by a 1.2% gain for Japan’s NIKKEI. Meanwhile, stocks in Europe are mixed. Elsewhere, oil prices have moved higher, with West Texas Intermediate up about 0.6%, to around $83.10 a barrel. Earnings season is moving along at a brisk pace, with several mega-cap companies reporting this week, including [Amazon (AMZN)](https://research.valueline.com/research#sec=company&sym=AMZN), [MasterCard (MA)](https://research.valueline.com/research#sec=company&sym=MA), [Qualcomm (QCOM)](https://research.valueline.com/research#sec=company&sym=QCOM), and [Apple (AAPL)](https://research.valueline.com/research#sec=company&sym=AAPL). Meanwhile, the Federal Open Market Committee (FOMC) is scheduled to wrap up its two-day meeting on Wednesday. However, with inflation remaining sticky, and employment holding on strong, expectations for rate cuts this year have dwindled considerably. Indeed, the Fed Funds futures market is pricing in only one quarter-point reduction to the overnight lending rate in 2024, perhaps by September. Nonetheless, traders will be listening in to Chairman Jerome Powell’s comments for any changes to the central bank’s plans. Economic news scheduled for the rest of the week includes the Institute for Supply Management’s (ISM) report on the manufacturing sector due out Wednesday. Wall Street is looking for the index to come in at around 50.3% for April, which would match the March reading, and mark a second consecutive month of modest expansion. (Percentages above 50 indicate growth, while those below 50 reflect contraction.) That same day, the Bureau of Labor Statistics will release its Job Openings and Labor Turnover Survey (JOLTS) for March, where the consensus is calling for a reading of around 8.7 million available jobs, versus 8.8 million the month before. Thursday brings the latest figures on initial jobless claims, with expectations looking for around 212,000, up from 207,000 reported the week before. More labor data arrives on Friday, with the median forecast for nonfarm payrolls indicating an increase of around 240,000 for April, down from 303,000 the month before. The unemployment rate is widely expected to remain steady at 3.8%. Lastly, the ISM will release its report on the services (nonmanufacturing) economy for April. Analysts are calling for an uptick to 52%, compared to 51.4% the month before. If close to the mark, it would be the 15th straight month of expansion. Summing up Monday’s moves, the Dow Jones Industrials was up 146 points, or 0.4%, the S&P 500 increased 16 points (0.3%), and the tech-focused NASDAQ advanced 55 points (0.4%). – Mario Ferro *At the time of this article’s writing, the author did not have positions in any of the companies mentioned.* [CLICK HERE](https://investors.valueline.com/) for more information on our services or call 1-800-VALUELINE (1-800-825-8354). Our account managers are available Monday through Friday, 8:00 AM to 6:00 PM Eastern Time. 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