The broad market index advanced 0.29% to end at 7,230.12, marking the first time the S&P 500 closed above the 7,200 threshold. The tech-heavy Nasdaq increased 0.89% to 25,114.44, also notching a new record closing high. The Dow Jones Industrial Average shed 152.87 points, or 0.31%, to 49,499.27.
Shares of Apple climbed more than 3% after the consumer tech giant posted a fiscal second-quarter earnings and revenue beat. Not only that, the company's revenue outlook for the current quarter was better than expected, overshadowing the fact that iPhone revenue fell short of estimates for the second time in three quarters.
Oil prices fell after Iran reportedly sent its response through Pakistani mediators to the latest U.S. amendments to a draft agreement to end the Middle East conflict. President Trump revealed he is displeased with a new peace offer from Iran, saying the country "wants to make a deal, but I'm not satisfied with it." U.S. West Texas Intermediate crude futures fell 2.98% to settle at $101.94 a barrel. Brent crude slid 2.02% to $108.17.
A strong first-quarter earnings season and hopes for easing Middle East tensions boosted stocks higher on the year. Both the S&P 500 and Nasdaq secured their strongest monthly performances since 2020. David Krakauer of Mercer Advisors said the positive trajectory can continue, noting "we're still just overall strategically bullish on equities."
I-People discussions