Post-Bell｜Tech Swings And AI Tailwinds Lift Wall Street As Dow Jumps Over 1%

01 Stock Market

The U.S. major indexes closed as follows: Dow Jones up 1.62% at 49,652.14; S&P 500 up 1.02% at 7,209.01; NASDAQ up 0.89% at 24,892.31. A broad late-session rally in large-cap technology and industrial names offset earlier weakness, helping all three benchmarks notch solid gains for the first trading day of May.

Sharp individual moves were led by heavyweight tech shares. Alphabet (GOOG) jumped 9.97% at $381.94 after blockbuster cloud results, while Qualcomm (QCOM) soared 15.12% at $179.58 on upbeat handset and AI chip commentary. Chipmaker Advanced Micro Devices (AMD) rose 5.16% at $354.49, and leveraged semiconductor fund SOXL gained 7.64% at $126.98. On the downside, social-media giant Meta Platforms (META) fell 8.55% at $611.91 amid higher spending plans, and NVIDIA (NVDA) declined 4.63% at $199.57 after recent volatility in AI-exposed names.

Investors balanced strong corporate earnings against lingering inflation concerns. Better-than-expected numbers from industrial bellwether Caterpillar and recovering travel demand lifted cyclical shares, while mixed megacap tech reactions highlighted selective profit-taking. Overall, May begins with optimism that robust AI spending and resilient consumer demand can outweigh macro headwinds.

02 Other Markets

U.S. 10-year Treasury yield rose by 0.00%, latest at 4.39%.

USD/CNH rose 0.08% at 6.86; USD/HKD rose 0.01% at 7.83.

U.S. Dollar Index rose 0.02%, at 98.10.

WTI crude futures rose 0.54%, at 105.64 USD/bbl; COMEX gold futures rose 0.29%, at 4,643.10 USD/oz.

03 Top News

1. Apple lifted its sales outlook and approved a new $100 billion share buyback. Management said fiscal-third-quarter revenue should grow 14%–17% despite chip constraints. Strong MacBook Neo demand and resilient services drove the beat.

2. White House officials signalled imminent steps to boost U.S. oil output. Economic adviser Kevin Hassett said talks with energy producers and regulatory reviews aim to offset supply risks from the Iran conflict. The initiative seeks to temper fuel prices and support economic stability.

3. Caterpillar posted a 22% revenue surge, sending its stock to an all-time high. Demand for construction equipment and power-generation systems pushed adjusted EPS to $5.54, far above estimates. A record order backlog underpins confidence in future growth.

4. Royal Caribbean reported stronger-than-expected profits and a rebound in cruise bookings. First-quarter adjusted EPS reached $3.60, topping consensus, as Mediterranean demand recovered. Despite trimming full-year guidance, shares jumped on signs of normalising travel appetite.

5. Amazon’s AWS cloud division grew sales 28%, exceeding forecasts. The company highlighted enterprise enthusiasm for AI workloads and deepened partnerships with OpenAI and Anthropic. Capital spending remains elevated, but management guided to higher operating income next quarter.

6. Merck narrowed its quarterly loss and nudged full-year profit guidance higher. A smaller-than-expected acquisition charge and 5% product-sales growth produced a loss of $1.28 per share versus a forecast $1.51 loss. Shares gained on the improved earnings outlook.

7. Core PCE inflation held at 3.2% year-over-year, reinforcing price pressures. A 0.3% monthly rise matched expectations, reflecting ongoing energy and services cost increases. The data support the Federal Reserve’s cautious stance on rate cuts.

8. U.S. first-quarter GDP grew an annualised 2%, missing the 2.3% consensus. Consumer spending remained solid, but higher imports and softer residential investment weighed on growth. The moderation fuels debate over the economy’s resilience amid tighter policy.

9. Alphabet’s Google Cloud revenue vaulted 63%, tripling operating profit. AI solutions drove backlog to $462 billion, prompting a capital-expenditure plan of up to $190 billion. Investors rewarded the strong momentum with a double-digit share gain.

10. Hertz teamed with Uber to deploy autonomous robotaxi and driver-led fleets, sparking an 18% stock rally. The partnership will supply vehicles for Uber’s self-driving program and expand Hertz’s revenue streams. Analysts view the move as a strategic play on future mobility.