Overview
- The S&P 500 and Nasdaq closed at all-time highs Friday after Apple’s earnings beat drove big tech higher.
- Earnings strength was broad, with about 84% of S&P 500 companies beating forecasts and standout results from Alphabet, Qualcomm, and Atlassian lifting software and chip stocks.
- Brent crude slipped after Iranian state media said Tehran sent a new negotiation proposal via Pakistani mediators, easing some supply fears from the Strait of Hormuz shutdown.
- A pullback in the 10-year Treasury yield helped ease inflation worries and can lower loan costs for households and businesses, which also supports stock valuations.
- April delivered the S&P 500’s biggest monthly gain since 2020, though investors still view the Iran conflict and shipping disruptions as active risks heading into May.