S&P 500 hits record as Apple lifts stocks and oil falls
U.S. stocks rise as S&P 500 and Nasdaq hit records amid earnings and oil shifts. See how Apple, oil prices, and market gains are shaping investor sentiment now.
U.S. stocks started May with gains, as the S&P 500 reached a new intraday high and the Nasdaq also set a record. The Dow Jones Industrial Average moved lower, while investors watched earnings results and shifting oil prices.
Apple shares rose after the company reported quarterly results that beat analyst expectations on earnings and revenue. Even so, iPhone sales came in below estimates for the second straight quarter, partly offsetting the stronger outlook for the current period.
Oil prices declined after reports of progress in talks tied to the Middle East conflict, though prices recovered some ground later in the session. The article also noted that the S&P 500 had closed above 7,200 in the prior session, helping major U.S. indexes post strong monthly gains.