After-close recap for Wednesday, April 29, 2026. The regular session was mixed: SPY slipped 0.02% while QQQ rose 0.62%. The bigger story arrived after the bell, with Microsoft, Amazon, and Meta reporting into a market already watching Fed language and AI capex.
Yahoo Finance context#
- Stocks ended mixed after the Fed held rates steady; Yahoo noted a divided Fed vote and a late-session drift after Powell’s press conference.
- The Magnificent 7 earnings rush is all about AI spending, which directly matters for MSFT, AMZN, and META.
- Meta fell after raising its 2026 AI spending forecast; Amazon’s Q1 revenue topped estimates as AWS hit a 15-quarter growth high.
Microsoft (MSFT)#
- Close: $424.64, down 1.07%. Weak regular-session finish before earnings.
- Notable today: Fiscal Q3 results were strong after the bell: Microsoft reported revenue growth of 18%, Microsoft Cloud revenue growth of 29%, and Azure/cloud services growth of 40%.
- Next catalyst: Thursday, April 30, 2026 — regular-session reaction to tonight’s earnings and AI-capex commentary.
- Stance: Buy
- Confidence: Medium-high
- Why: Azure acceleration and durable cloud demand support adding on weakness, though valuation still needs continued AI monetization proof.
Reddit (RDDT)#
- Close: $147.75, down 0.12%. Stabilized after yesterday’s sharp pre-earnings selloff.
- Notable today: No material company release stood out; the setup remains event-driven into tomorrow’s print.
- Next catalyst: Thursday, April 30, 2026, after market close — Q1 results and earnings call at 1:30 PM Pacific.
- Stance: Hold
- Confidence: Medium
- Why: The growth story is attractive, but the next move is binary; wait for ad-growth, user-growth, and margin commentary.
Cloudflare (NET)#
- Close: $211.97, up 1.66%. Best regular-session move in the watchlist.
- Notable today: No major same-day release, but the stock benefited from risk appetite in high-quality software; the company’s recent AI-agent security messaging keeps the platform story relevant.
- Next catalyst: Thursday, May 7, 2026, after market close — Q1 results; then Tuesday, June 9, 2026 — Investor Day.
- Stance: Hold
- Confidence: Medium
- Why: Product positioning is strong, but valuation leaves little margin for a merely okay quarter.
Amazon (AMZN)#
- Close: $263.04, up 1.29%. Solid regular-session strength into earnings.
- Notable today: Q1 revenue topped expectations after the close, and AWS growth accelerated to 28%, its fastest pace in 15 quarters, but investors are still weighing AI infrastructure spend.
- Next catalyst: Thursday, April 30, 2026 — regular-session reaction to earnings, AWS growth, and capex guidance.
- Stance: Buy
- Confidence: Medium-high
- Why: AWS reacceleration, ads, and retail margin discipline make this the best add-on-dip setup in the group.
Meta Platforms (META)#
- Close: $669.99, down 0.20%. Quiet regular session, then a sharper post-close reaction.
- Notable today: Q1 results were strong, but Yahoo flagged the stock’s drop after Meta lifted its 2026 AI-spending forecast to $125 billion-$145 billion.
- Next catalyst: Thursday, April 30, 2026 — market reaction to whether investors accept higher AI capex.
- Stance: Hold
- Confidence: Medium-high
- Why: The ad business remains excellent, but rising capex reduces near-term upside until management shows clearer AI returns.
Bottom line: MSFT and AMZN improved the fundamental picture tonight; META is the watch item because capex tolerance is getting tested. Keep RDDT and NET sized for earnings volatility over the next week.