Wall Street ended the week on a strong note, with the S&P 500 and Nasdaq Composite closing at fresh record highs on May 1, powered by robust corporate earnings and easing crude prices.
Reuters reported that the S&P 500 rose 21.11 points, or 0.29%, to 7,230.12, while the Nasdaq climbed 222.13 points, or 0.89%, to 25,114.44. The Dow Jones Industrial Average slipped 152.87 points, or 0.31%, to 49,499.27.
Both the S&P 500 and Nasdaq notched their sixth straight week of gains, their longest winning streak since October 2024, as investors digested one of the strongest earnings seasons in recent years.
Analysts now expect first-quarter earnings growth of 27.8% year-on-year, marking the biggest expansion since late 2021. Of the 314 companies that have reported so far, 83% have beaten profit estimates.
Technology shares led gains, with Apple rising 3.3% after issuing a strong sales forecast. Software stocks also rallied, with Atlassian surging 29.6% after lifting its annual outlook.
Energy stocks lagged as oil prices eased following reports that Iran had submitted a fresh proposal for talks with the US, reducing immediate supply concerns.
Despite geopolitical uncertainty and inflation pressures, investor optimism remained anchored by earnings resilience, helping US equities build on their strongest monthly gains in years.
