Stock Market Hits Record Highs as Earnings Season Delivers Strong Results
The S&P 500 and Nasdaq reached all-time highs in early May 2026 as corporate earnings beat expectations, with 84% of companies reporting earnings surprises above estimates and the index showing its highest earnings growth rate since Q4 2021.
Market Performance
The S&P 500 rose to a fresh all-time intraday high on Friday, advancing 0.29% to end at 7,230.12, while the Nasdaq Composite added 0.89%, reaching an all-time high and closing at 25,114.44.
Earnings Momentum
Nearly two-thirds of the way through the earnings season, the S&P 500 is reporting impressive results with 63% of companies having reported, and 84% of these have reported actual EPS above estimates. The index is reporting its highest earnings growth rate since Q4 2021.
Tech Leadership
Apple climbed more than 3% after posting a fiscal second-quarter earnings and revenue beat, with its revenue outlook for the current quarter better than expected.