U.S stock market mixed after strong GDP and disappointing earnings result

U.S Q1 GDP logged 3.2% increase, more than 2.2% analysts expected. The increase is higher than analysts expected but come as the boost from net trade, rise in inventories and investment which will get reversed in the coming quarter.

On the corporate result, Intel Inc (NASDAQ: INTC) gapped down more than 10% after beaten analysts expectation but provide lower guidance. Exxon Mobil (NYSE: XOM) missed on earnings and revenue, share prices down nearly 3%.

Dow Jones Industrial Averages traded in a narrow range of 109 points. The stock market is looking for direction and might not move much. Dow Jones Industrial Averages currently up 17.16 points (+0.06%) at 26,479.24, Nasdaq up 3.78 points (+0.05%) at 8,122.46 and S&P 500 up 5.17 points (+0.18%) at 2,931.34.

Earnings & Corporate results

Intel (NASDAQ: INTC) reported earnings per share of $0.89 under $16.06 billion in revenue. The analyst expects the company to report earnings per share of $0.87 under $16.03 billion in revenue. The company project $0.89 eps and $15.6 billion in revenue in Q2. For this year, the company sees eps of $4.35 on $69 billion revenue while analysts forecasted eps of $4.5 on $71.04 billion revenue.

Exxon Mobil (NYSE: XOM) reported earnings per share of $0.55 vs. $0.70. Revenue comes out at $63.62 billion vs. $67.35 billion.

Ford Motor (NYSE: F) launched more than 10%. Earnings per share reported at $0.44 vs. $0.27. Revenue comes out inline with $40.3 billion expectation.

Other markets

Gold up $9.40 (+0.73%) to $1,289.10, Crude oil down $2.08 (-3.19%) to $63.13. U.S dollar index down 0.16 (-0.16%) to 97.99

Asian stock market mostly lower today. Japan stock market down 48.85 points (-0.22%) to 22,258.73, China Shanghai Composite down 37.43 points (-1.20%) to 3,086.40, and Australia ASX 200 up 3.50 points (+0.05%) to 6,385.60

European stock market mostly higher. DAX Germany up 32.58 points (+0.27%) to 12,315.18, FTSE UK down 5.94 (-0.08%) to 7,428.19, and Euro STOXX 600 up 0.86 points (+0.22%) to 391.01.