US EditionApple Leads Wall Street Toward More Records as Oil Prices Pull Back
Apple rallied 5.4% and Brent crude fell 2.2% as stronger corporate earnings lifted stocks and eased pressure on bond yields.
- Wall Street is rising toward new records Friday after Apple and Estee Lauder delivered stronger-than-expected profits for the start of the year. The Dow Jones Industrial Average gained 0.6%, while the Nasdaq composite added 0.7% to its own record.
- Corporate earnings fueled the rally, with Apple rallying 5.4% and Estee Lauder climbing 4.2% on strong China demand. Sandisk rose 4.1% on data center demand, while Colgate-Palmolive added 3.1%.
- Oil prices regressed Friday, with Brent falling 2.2% to $107.96 per barrel. The yield on the 10-year Treasury fell to 4.35% from 4.40% late Thursday, easing bond market pressure.
- Despite broader gains, Exxon Mobil shares fell 1.2% and Chevron dropped 1.3% as oil prices regressed. Softer U.S. manufacturing growth data from last month could offer the Federal Reserve more leeway to resume interest rate cuts.
- Global markets remained cautious during the May Day holiday as the Iran war and potential Strait of Hormuz closures created uncertainty. Tokyo's Nikkei rose 0.4%, while London's FTSE fell 0.6% amid fluctuating oil hopes.
12 Articles
12 Articles
Wall Street rises towards more records as oil prices slip
The US stock market is rising towards more records on Friday after Apple, Estee Lauder and other big companies became the latest to deliver fatter profits for the start of the year than analysts expected. Modest dips for oil prices also helped to steady the relatively few stock markets open worldwide on the May Day holiday. The S&P 500 rose 0.6 per cent and added to its all-time high set the day before. The Dow Jones Industrial Average was up 22…
Richmond Register
union-bulletin.comWall Street climbs toward more records as oil prices give back a bit of their big jumps
The U.S. stock market is rising toward more records after Apple, Estee Lauder and other big companies became the latest to deliver fatter profits for the start of the year than analysts expected. The S&P 500 rose 0.6% Friday and…
Samtidig hopper Apple-aksjenetter steke kvartalstall.
Even after one of the best months in history, the super-hot US stock market is lifting.
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