US Markets Close Higher on Record S&P and Positive Earnings
· Market News · MarketsFN Team
US Stocks Surge to Records Amid Earnings Boost and Falling Oil
The US stock market ended the session on a high note, with the S&P 500 hitting a fresh record close, driven primarily by strong earnings from tech giants like AMD and a decline in oil prices that eased inflation concerns. This rally reflected investor optimism amid mixed economic data, as small-cap stocks led gains and positive corporate results overshadowed geopolitical tensions in the Middle East.
🇺🇸 US Session Overview
US equities closed broadly higher, with the S&P 500 advancing 0.81% to 7,259.22, propelled by technology and small-cap strength. The Nasdaq 100 outperformed, rising 1.31% to 28,015.06, boosted by AMD's earnings beat and a 57% jump in its data center revenue, as highlighted in recent headlines. The Dow Jones gained 0.73% to 49,298.25, while the Russell 2000 led with a 1.75% increase to 2,845.00, marking its best monthly performance since 2020 amid Bank of America's upside forecasts. Sector dynamics showed strength in tech and memory stocks, with Micron surpassing a $700 billion market cap, though EV makers like Lucid faced production adjustments due to inventory buildup.📅 Economic Calendar Highlights
Today's economic releases were mostly in line with expectations, providing little surprise but reinforcing a stable US outlook. Key US data included the S&P Global Services PMI for April at 51.0, slightly missing the forecast of 51.3 from the prior 49.8, and the ISM Non-Manufacturing PMI at 53.6, just below the expected 53.7 versus 54.0 previously. New Home Sales for March beat forecasts at 682K units, up from 583K, with the month-over-month change at 7.4%, exceeding the prior -19.9%. The Atlanta Fed GDPNow for Q2 rose to 3.7%, topping the forecast of 3.5%, signaling potential growth. Internationally, Australia's RBA Interest Rate Decision held at 4.35% as expected, while Spain's Unemployment Change surprised with a drop of -62.7K, far better than the forecasted -18.6K. Overall, the data pointed to a resilient economy, though misses in PMI figures tempered enthusiasm.📋 Earnings Spotlight
Several companies reported earnings before the market open, with notable names including AMD, which topped estimates and drove sector gains, and ADM along with AEP in the consumer and utilities spaces. Other reporters like APTV and AGCO also shared results, contributing to the day's positive market sentiment. These updates highlighted strong corporate performance, particularly in technology and manufacturing.💱 FX & Commodities
The US dollar showed mixed strength, gaining against most majors as risk appetite grew, with USD/JPY rising 0.65% to 157.87, reflecting safe-haven flows amid Middle East tensions. However, EUR/USD slipped 0.25% to 1.1697 and GBP/USD fell 0.30% to 1.3541, pressured by steady US data. In commodities, gold (XAU/USD) climbed 1.12% to 4,570.00 as a hedge against geopolitical risks, while silver edged up 0.48% to 73.43. Energy markets weakened sharply, with Crude Oil (WTI) dropping 3.54% to 102.65 and Brent Oil declining 3.61% to 110.31, influenced by eased supply concerns. Cryptocurrencies also rose, with Bitcoin up 1.39% to 80,937.36 and Ethereum gaining 1.30% to 2,376.99, tracking equity market optimism. As Asian markets prepare to open, investors will eye potential volatility from ongoing Middle East developments and upcoming US jobs data, which could influence Fed policy. With the dollar's strength and oil's decline providing a buffer, tomorrow's focus will be on China's PMI releases and any ripple effects from today's corporate earnings. Overall, the session sets a cautiously bullish tone for global markets.🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,259.22 | ▲ +58.47 | ▲ +0.81% |
| Nasdaq 100 | 28,015.06 | ▲ +363.24 | ▲ +1.31% |
| Dow Jones | 49,298.25 | ▲ +356.35 | ▲ +0.73% |
| Russell 2000 | 2,845.00 | ▲ +49.00 | ▲ +1.75% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1697 | ▼ -0.25% |
| GBP/USD | 1.3541 | ▼ -0.30% |
| USD/JPY | 157.87 | ▲ +0.65% |
| AUD/USD | 0.7186 | ▼ -0.37% |
| USD/CHF | 0.7831 | ▲ +0.25% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,570.00 | ▲ +1.12% |
| Silver (XAG/USD) | 73.43 | ▲ +0.48% |
| Crude Oil (WTI) | 102.65 | ▼ -3.54% |
| Brent Oil | 110.31 | ▼ -3.61% |
| Natural Gas | 2.76 | ▼ -3.63% |
| Bitcoin | 80,937.36 | ▲ +1.39% |
| Ethereum | 2,376.99 | ▲ +1.30% |
📋 Today's Earnings
| Ticker | Company | Timing | Market Cap |
|---|---|---|---|
| ABEV | Ambev SA ADR | BMO | 52630000000.0 |
| ADM | Archer Daniels Midland Co | BMO | 38160000000.0 |
| ADTN | ADTRAN Holdings Inc | BMO | 1230000000.0 |
| AEP | American Electric Power Company Inc | BMO | 74490000000.0 |
| AGCO | AGCO Corp | BMO | 8289999999.999999 |
| AHCO | AdaptHealth Corp | BMO | 1600000000.0 |
| AIZ | Assurant Inc | BMO | 11810000000.0 |
| ALKS | Alkermes plc | BMO | 6030000000.0 |
| AOMR | Angel Oak Mortgage REIT Inc | BMO | 217010000.0 |
| APTV | Aptiv Plc | BMO | 11690000000.0 |
| ATKR | Atkore Inc | BMO | 2580000000.0 |
| AUDC | Audiocodes | BMO | 228130000.0 |
| AVA | Avista Corp | BMO | 3380000000.0 |
| AVNS | Avanos Medical Inc | BMO | 1150000000.0 |
| BALL | Ball Corp | BMO | 15200000000.0 |
| BLD | TopBuild Corp | BMO | 12020000000.0 |
| BLDP | Ballard Power Systems Inc | BMO | 1300000000.0 |
| BNTX | BioNTech SE ADR | BMO | 24000000000.0 |
| BOW | Bowhead Specialty Holdings Inc | BMO | 823250000.0 |
| BRBR | Bellring Brands Inc | BMO | 1250000000.0 |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
| Time | Currency | Event | Imp. | Actual | Forecast | Previous |
|---|---|---|---|---|---|---|
| 04:30 | AUD | RBA Interest Rate Decision (May) | 🔴🔴🔴 | 4.35% | 4.35% | 4.10% |
| 13:45 | USD | S&P Global Services PMI (Apr) | 🔴🔴🔴 | 51.0 | 51.3 | 49.8 |
| 13:59 | USD | New Home Sales (Feb) | 🔴🔴🔴 | 635K | 587K | |
| 14:00 | USD | ISM Non-Manufacturing PMI (Apr) | 🔴🔴🔴 | 53.6 | 53.7 | 54.0 |
| 14:00 | USD | ISM Non-Manufacturing Prices (Apr) | 🔴🔴🔴 | 70.7 | 73.7 | 70.7 |
| 14:00 | USD | JOLTS Job Openings (Mar) | 🔴🔴🔴 | 6.866M | 6.860M | 6.922M |
| 14:00 | USD | New Home Sales (Mar) | 🔴🔴🔴 | 682K | 652K | 583K |
| 06:30 | CHF | CPI (MoM) (Apr) | 🟡🟡 | 0.3% | 0.3% | 0.2% |
| 07:00 | EUR | Spanish Unemployment Change (Apr) | 🟡🟡 | -62.7K | -18.6K | -22.9K |
| 09:00 | BRL | IPC-Fipe Inflation Index (MoM) (Apr) | 🟡🟡 | 0.40% | 0.59% | |
| 12:30 | USD | Building Permits (Feb) | 🟡🟡 | 1.538M | 1.538M | 1.386M |
| 12:30 | USD | Exports (Mar) | 🟡🟡 | 320.90B | 314.70B | |
| 12:30 | USD | Imports (Mar) | 🟡🟡 | 381.20B | 372.40B | |
| 12:30 | USD | Trade Balance (Mar) | 🟡🟡 | -60.30B | -61.00B | -57.80B |
| 12:30 | CAD | Trade Balance (Mar) | 🟡🟡 | 1.78B | -2.40B | -5.11B |
| 12:31 | USD | Building Permits (Mar) | 🟡🟡 | 1.363M | 1.372M | 1.538M |
| 13:45 | USD | S&P Global Composite PMI (Apr) | 🟡🟡 | 51.7 | 52.0 | 50.3 |
| 13:59 | USD | New Home Sales (MoM) (Feb) | 🟡🟡 | 8.9% | -17.6% | |
| 14:00 | USD | ISM Non-Manufacturing Employment (Apr) | 🟡🟡 | 48.0 | 48.3 | 45.2 |
| 14:00 | USD | New Home Sales (MoM) (Mar) | 🟡🟡 | 7.4% | -19.9% | |
| 16:00 | USD | Atlanta Fed GDPNow (Q2) | 🟡🟡 | 3.7% | 3.5% | 3.5% |
| 04:30 | AUD | RBA Monetary Policy Statement | 🟡🟡 | — | ||
| 04:30 | AUD | RBA Rate Statement | 🟡🟡 | — | ||
| 12:30 | EUR | ECB President Lagarde Speaks | 🟡🟡 | — | ||
| 12:30 | EUR | ECB's De Guindos Speaks | 🟡🟡 | — | ||
| 14:00 | USD | FOMC Member Bowman Speaks | 🟡🟡 | — | ||
| 15:40 | EUR | ECB's Lane Speaks | 🟡🟡 | — | ||
| 16:30 | GBP | BoE Deputy Governor Woods Speaks | 🟡🟡 | — | ||
| 16:30 | USD | Fed Vice Chair for Supervision Barr Speaks | 🟡🟡 | — | ||
| 20:30 | USD | API Weekly Crude Oil Stock | 🟡🟡 | — | -2.800M | -1.790M |
| 21:00 | NZD | RBNZ Financial Stability Report | 🟡🟡 | — | ||
| 23:00 | NZD | RBNZ Gov Orr Speaks | 🟡🟡 | — |
Report published: May 05, 2026 — 22:39 CET
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