S&P 500 and Nasdaq Reach Record Highs on Strong Earnings
The S&P 500 and Nasdaq hit record highs as strong tech earnings offset inflation risks. Positive news on Iran negotiations also supported market sentiment.
The S&P 500 and Nasdaq Composite reached record highs on May 1 as corporate earnings growth accelerated to 27.8%. It marks the longest weekly winning streak for United States equities since 2024. Investors are prioritizing high-growth tech results over persistent inflation risks and geopolitical tensions in the Middle East.
### Tech Earnings Drive Market Momentum LSEG IBES data shows first-quarter earnings growth for the S&P 500 is now tracking at 27.8%, up from 16.1% last week. This represents the fastest pace of expansion since the final quarter of 2021. APPLE INC shares rose 4.8% after the company reported strong demand for its iPhone 17 and MacBook Neo models.
