Software Crashes, Semis Rip, Meta Cuts 8,000 Jobs

📈 S&P 500 hit a new all-time high intraday — then closed down 0.41%. IBM -8%. ServiceNow -18%. Iran seizes more ships. Then Intel soars 15% after hours on a massive beat. Meta laying off 8,000. American Express crushes earnings. The full April 23 breakdown inside.
📊 In this video I cover:

00:00 – Intro: New ATH at the Open, Then a Software Wipeout
02:00 – Full Market Numbers: S&P, Nasdaq, Dow, VIX, Oil, Semis
05:00 – Why the Market Reversed: IBM, ServiceNow, and Iran Escalation
08:00 – IBM -8% Today: What the Consulting Miss Really Means
11:00 – ServiceNow -18% Today: The Worst Single-Day Drop in Years
14:00 – What ServiceNow's Crash Tells Us About AI Software Valuations
17:00 – Iran: Navy Seizes Two More Ships, Air Defenses Engaging Targets
20:00 – Oil and What the Brent $100 Break Means
22:30 – Semiconductor Index: 17-Day Win Streak — The Widening Rally
25:00 – Texas Instruments: Record Close, $83B in Value Added in 17 Days
27:30 – American Express Q1 Earnings — Highest Spending Growth in 3 Years
30:00 – AXP Beat But Fell: The Same Wells Fargo Pattern Playing Out Again
32:30 – Meta Laying Off 10% of Its Workforce — 8,000 Jobs Gone
35:00 – AFTER HOURS: Intel Q1 — The Biggest Beat of the Week
39:00 – Intel EPS $0.29 vs Essentially Zero Expected — What Happened
42:00 – Intel's Terafab Deal with Musk, Google Cloud Partnership Explained
45:00 – Two Relatable Talking Points for Traders
48:00 – Final Thoughts + What to Watch Tomorrow: P&G, Consumer Sentiment

📊 TODAY'S NUMBERS:
S&P 500: -0.41% to 7,108.40 — hit a new all-time intraday high earlier in the session before reversing. Nasdaq Composite: -0.89% to 24,438.50 — also scored a new intraday all-time high before the sell-off. Dow Jones: -0.36%, down 179.71 points to 49,310.32. CNBC VIX rose as Iran uncertainty returned. Semiconductor Index (SOX): extended its winning streak to 17 consecutive sessions.
💻 IBM AND SERVICENOW — THE HANGOVER FROM YESTERDAY:
IBM fell more than 8% on Thursday after delivering its first-quarter earnings report Wednesday. The company beat on both revenue and earnings but maintained its full-year guidance, disappointing investors. Goldman Sachs and Bank of America both reiterated buy ratings on the stock, with Goldman cutting its price target to $335 from $365. CNBC
ServiceNow shares tumbled almost 18% as the AI-powered software company's subscription revenue growth was hindered by the Middle East conflict. CNBC ServiceNow's CEO noted on the earnings call that several large enterprise deals were delayed as corporate IT buyers paused decision-making amid the geopolitical uncertainty from the Iran war. This is a new and significant data point — the war is now showing up not just in oil prices and airline guidance, but in enterprise software deal timelines. That's a broader economic signal worth taking seriously.
🚢 IRAN — THE SESSION'S OTHER PRESSURE POINT:
Reports during the afternoon session that Iran's air defenses were engaging targets over Tehran — even amid the ongoing ceasefire — sent crude futures spiking and triggered the sharpest leg lower of the day. Yahoo Finance The US also boarded an Iranian oil supertanker called the Majestic X in the Indian Ocean as blockade enforcement expanded. The situation remains deeply fluid. The ceasefire extension is indefinite on paper — but the behavior on the ground tells a different story.
📊 SEMICONDUCTORS — THE BULL MARKET WITHIN THE BULL MARKET:
The PHLX Semiconductor Index is on track for a 17-day winning streak, hitting record intraday highs in each of the last 12 sessions. Chip stocks have added over $3 trillion in market value in only 17 trading days. Intel Corporation Texas Instruments closed at its seventh record of 2026 after strong Q1 results. Since March 30, Texas Instruments has added about $83 billion in market value, joining a semiconductor surge that has pushed the PHLX Semiconductor Index toward a 17-day winning streak. The rally is now broadening — when a steady analog name like Texas Instruments is ripping to records, the semiconductor rally is no longer just about the usual AI suspects. Intel Corporation
💳 AMERICAN EXPRESS — STRONG BEAT, DOWN ON THE DAY:
American Express reported EPS of $4.28, up 18% year over year, beating the $4.06 estimate. Revenue grew 11% to $18.9 billion — the highest quarterly growth rate in three years. Card member spending grew 9% FX-adjusted. Quiver Quantitative The company reaffirmed its full-year guidance for 9-10% revenue growth and EPS of $17.30-$17.90. Despite the strong print, the stock fell about 4% — another example of the Wells Fargo pattern: beat the quarter, but increase investment spending guidance, and the market punishes you for the cost. Management noted a softening in airline spending growth during late March and early April due to travel disruptions from the Middle East conflict The Motley Fool — another data point showing the war's reach into consumer behavior.
📱 META — 8,000 JOBS CUT:
Meta confirmed it is laying off appr

Видео Software Crashes, Semis Rip, Meta Cuts 8,000 Jobs канала LUWEP TRADING