US stock market: S&P 500, Nasdaq climb as strong earnings offset slowdown worries, Fed meeting in focus

US stock indexes rose with Exxon and Intel's strong earnings reports counterbalancing Amazon's slowdown, while economic data cemented predictions of a Federal Reserve interest-rate hike. In Q1, Exxon Mobil's gas and oil output helped to record profits and Intel said that it expects gross margins to improve later in 2021, indicating growth by 4.7%. Amazon’s stock fell by 3.6% despite better-than-expected results after it warned that cloud-computing growth would slow; consumer discretionary indexes also fell. Colgate-Palmolive, a consistent price hike investor, raised its annual organic sales forecast, leading to its share jumping 3%.

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