U.S. Stocks Open at Record Highs to Start May
U.S. equities began Friday’s session at fresh record levels, positioning Wall Street for a strong start to May. Gains were supported by positive corporate earnings, with Apple leading the advance after issuing strong forward guidance.
At the opening bell, the S&P 500 rose 0.4% to 7,237.19 points, while the Nasdaq Composite gained 0.5% to 25,021.19. The Dow Jones Industrial Average also moved higher, adding 0.3% to 49,861.32.
Markets Extend Rally on Strong Earnings
Wall Street carried momentum from the previous session, where major indices closed at record levels. The S&P 500 climbed 1% to surpass the 7,200 mark, while the Nasdaq Composite advanced nearly 0.9%, also reaching an all-time high. The Dow Jones Industrial Average outperformed with a 1.6% gain.
The rally has been fueled by strong corporate earnings, reinforcing confidence in business profitability despite ongoing concerns around inflation and geopolitical uncertainty.
Apple Leads Gains With Strong Outlook
Shares of Apple surged more than 4% after the opening bell following its latest earnings report. Investors reacted positively to continued strength in iPhone demand and the company’s high-margin services segment.
Management also projected revenue growth of 14% to 17% for the current quarter, alongside a strong margin outlook, further boosting sentiment.
Other Stocks in Focus
Reddit shares jumped nearly 10% after reporting better-than-expected quarterly results, supported by strong growth in daily active users.
Investors are also closely watching upcoming earnings releases from major companies, including Chevron, Exxon Mobil, and AutoNation, which reported results ahead of the market open.
Geopolitical Risks Keep Markets on Edge
Despite the strong start to May, market sentiment remains sensitive to geopolitical developments. Reports indicated that Donald Trump is set to review new military options regarding Iran, raising concerns about potential escalation.
Iran has warned that any further U.S. action could trigger retaliatory strikes against American interests in the region.
Oil Market Volatility Adds Uncertainty
The Strait of Hormuz remains effectively closed, disrupting a critical route for global oil shipments and tightening supply expectations.
Brent crude prices recently surged above $126 per barrel—marking a four-year high—before retreating toward $114 as markets adjusted to profit-taking and currency movements.
