S&P 500 And Nasdaq Hit Records As Apple Rally Defies Oil Shock — For Now
The S&P 500 and Nasdaq both finished at new highs on Friday, pushing April’s recovery further as strong results from Apple and others outshone losses in energy names. S&P 500 notched a 0.29% gain to 7,230.12, while the Nasdaq jumped 0.89% to 25,114.44. The Dow lagged, dipping 0.31% to 49,499.27. LSEG analysts are looking for S&P 500 earnings to climb 27.8% year-over-year for the first quarter. Carson Group’s Ryan Detrick called the day’s action the “cherry on top” of what he described as a better-than-expected earnings week. Timing is key here. Stocks keep pressing to new highs despite oil still trading above $100 a barrel, and bond yields hovering at levels that could push up borrowing costs for everything from mortgages to car loans. CNN noted the S&P 500 climbed over 10% in April—the strongest showing since November 2020—while the Nasdaq jumped 15% as investors brushed off the Iran war, focusing instead on strong earnings and the AI boom.
