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Source document· April 23, 2026

Stock Indexes Recover on Strength in Chipmakers

View original at nasdaq.com
Stock Indexes Recover on Strength in Chipmakers The S&P 500 Index ($SPX) (SPY) today is up +0.07%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.05%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.03%…
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  • Q1 S&P 500 earnings are projected to climb +12% y/y

    60% confidence
  • Markets are discounting a 1% chance for a +25 bp FOMC rate hike at the April 28-29 policy meeting

    60% confidence
  • War in the Middle East has delayed some sales deals

    60% confidence
  • Iran said it will not resume negotiations while a US naval blockade on its ports is in place

    60% confidence
  • Stripping out the technology sector, Q1 earnings are projected to increase around +3%, the weakest in two years

    60% confidence
  • US said it was waiting for a response from Iran before peace talks could restart

    60% confidence
  • Swaps are discounting a 10% chance of a +25 bp ECB rate hike at its next policy meeting on April 30

    60% confidence

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What we're seeing
Obesity and Immunology Readouts, Big Pharma M&A and AI-Designed Drugs Converge Into a Q4 2026 Catalyst Wave
Late-stage data and deal activity are clustering ahead of Q4 2026. Novo Nordisk's CagriSema won Best Abstract at EASD 2026 for its brain and body (fMRI/MRI) data, Lilly showed ADtouch results for EBGLYSS and agreed to buy Merida Biosciences for $2.9B, and Merck's tulisokibart hit its Phase 2b endpoints. A key regulatory catalyst follows: the FDA PDUFA date for the ivonescimab BLA on 2026-11-14. AI-designed rentosertib showing anti-aging effects adds a speculative AI-drug-discovery thread, while QAIAx's microcities trial and QIII pilot (planned 2027-01-01) are peripheral, forecast-only items.
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Satellite-Terrestrial Network Integration Acceleration
Increased investment and launches in hybrid satellite-cellular networks across telecom industry; competitive responses from other carriers; regulatory activity around satellite spectrum; expansion of emergency/rural connectivity use cases
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Where sources disagree
ING Group
Both facts record the same metric (shares_outstanding) for ING Group at the identical observation date (2025-12-31). FACT A states 2,902,437,688 shares; FACT B states 2,902 million shares (2,902,000,000). The difference is 437,688 shares (~0.015%). This is a genuine value conflict, though the discrepancy appears to result from FACT B rounding to the nearest million while FACT A provides the precise count.
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