##  [# Here’s What’s Happening in Markets: April 18](/sections/news/heres-whats-happening-markets-april-18) 

 

# Here’s What’s Happening in Markets: April 18

 

 

Markets turn higher, aiming to break a 4-day losing streak, ahead of major tech companies earnings reports.



 

 

 

 

 [![Kristin](/sites/default/files/styles/author_image_icon/public/2024-04/Kristin_Myers-square_0.png?itok=UcEMs4b4)](/authors/kristin-myers) 

[By Kristin Myers](/authors/kristin-myers)

 Apr 18, 2024

 Edited by: ETF.com Staff

 

 

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Markets moved decidedly higher after fluctuating midmorning Thursday, potentially snapping a 4-day losing streak, the S&amp;P 500's longest slide since January, according to FactSet.

SPY, the [**SPDR S&amp;P 500 ETF Trust**](/spy), added 0.5% while DIA, the [**SPDR Dow Jones Indus0.5%trial Average ETF Trust** ](/dia)gained 0.8%. QQQ, the tech-heavy [**Invesco QQQ Trust**](/qqq) which mirrors the Nasdaq, rose 0.3% as investors looked ahead to tech earnings.

Investors are looking to the tech sector today for optimism. [Netflix](/stock/NFLX) is the first of the megacap (companies with a market capitalization of roughly $200 billion or more) technology companies set to report first quarter corporate earnings after the bell. Tech companies have led the markets this year despite a higher-for-longer rate environment that typically keeps them under pressure.

XLK, the [**Technology Select Sector SPDR Fund**](/xlk) (which despite not holding Netflix remains a tech sector barometer), fluctuated between higher and lower ahead of Netflix's earnings. The fund is up 5% for the year, and a whopping 37% since last year. XLG, the [**Invesco S&amp;P 500 Top 50 ETF**](/xlg) which holds Netflix in its fund, jumped nearly half a percentage point on Thursday morning.

***XLK 1-Year Chart***

![](/sites/default/files/inline-images/image_19.png)

*Source: etf.com*

SQQQ, the [**ProShares UltraPro Short QQQ**](/sqqq)—which bets that tech stock prices will drop—was in the red ahead of tech earnings, sinking about a half-percentage point.

Ahead of the [bitcoin halving](/sections/etf-basics/what-bitcoin-halving-dates-why-it-matters-and-how-it-affects-etfs) this week, bitcoin prices were on the rise, jumping to nearly $63,800 according to data from CoinMarketCap. Cryptocurrency ETFS were the top gainers Thursday, according to etf.com data. BTFX, the [**Valkyrie Bitcoin Futures Leveraged Strategy ETF**](/btfx) had the biggest rise, jumping more than 9%. [BITX](/bitx), [BITU](/bitu), [CONL](/conl), and [CRPT](/crpt) all advanced 7%-10%.

Bitcoin halvings have historically preceded rallies in bitcoin's price. But it's unclear if history will repeat itself this year since the inception of spot bitcoin ETFs which have already caused jumps in bitcoin.



 

 

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 [ Kristin Myers SVP Content/EIC ](/authors/kristin-myers) 

 

 

  Kristin Myers is an award-winning journalist, who covers business and finance news. She is the current Senior Vice President of Content and Editor in…   [View Bio](/authors/kristin-myers)

 



 

 


 Related Topics  [Technology](http://www.etf.com/topics/technology) 

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 [Crypto](http://www.etf.com/topics/cryptocurrency) 

 [Bitcoin](http://www.etf.com/topics/bitcoin)