S&P 500, Nasdaq end higher, notch weekly gains after earnings-heavy week
By Stephen Culp and Niket
Nishant
Fri May 1, 2026
Q1 earnings reports, particularly in the tech sector, continued to come in strong on Friday, bolstering continuing confidence in AI as more companies begin claiming their huge AI investments are starting to pay off. As is usually the case, when tech gets exciting, money is taken from the safety of industrials so the Dow had a modestly down day while the S&P and Nasdaq took off. After ending a record-breaking month yesterday (the biggest in years), both the tech indexes registered a record-breaking week today with both hitting now six consecutive weekly advances, the longest winning streak in 1-1/2 years.
Historically, May thru October are the weakest months averaging 2% advances while the rest of the year averages 7%. But analysts believe the momentum may well carry forward this year. With the terrific Q1 reports that have been coming in this week and with 314 companies reporting so far, the S&P Q1 earnings forecast has now almost doubled to 27.8%, a whopping jump from 16.1% a week ago and almost double the 14.4% April 1st. Factory activity expanded for a fourth consecutive month though tempered by factory costs hitting a 4-year high. Stocks were also bolstered by an easing in crude prices and a fresh new peace proposal from Iran. Uncertainty remains, reflected in the still well-below average volume of 15.27 vs the 4-week 17.64 billion.
DJ: 49,652.14 +790.33 NAS: 24,892.31
+219.07 S&P: 7,209.00
+73.05 4/30
DJ: 49,499.27 -152 87 NAS: 25,114.44
+222.13 S&P: 7,230.12
+21.11 5/1
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