S&P 500 and Nasdaq Reach Record Highs Amid Strong Corporate Earnings; Oil Prices Fall

Sun, 03 May 2026 00:49:00 +0200

The U.S. stock market opened May on a strong note, with the S&P 500 and Nasdaq Composite reaching all-time highs. The S&P 500 rose 0.29% to 7,230.12, while the Nasdaq climbed 0.89% to 25,114.44. Apple shares surged over 3% after reporting stronger-than-expected second-quarter earnings and revenue, despite lower iPhone sales. In contrast, the Dow Jones Industrial Average fell 0.31% to 49,499.27. Oil prices declined due to developments in U.S.-Iran negotiations over a Middle East peace draft, with West Texas Intermediate crude dropping 2.98% to $101.94 per barrel. Investors are optimistic about earnings growth in both the U.S. and overseas, even amid the ongoing conflict in the Middle East. Analysts note that while there could be short-term pullbacks, the overall trend remains bullish for equities. Other market highlights included Blue Owl's rebound following SpaceX investment gains, Hershey's upgrade from TD Cowen, and Spirit Airlines’ stock collapse amid liquidation rumors. Trade dynam