Stock Market Reaches Record Highs Amid Apple Earnings Surge
The S&P 500 and Nasdaq reached new all-time highs Friday on strong quarterly earnings, particularly from Apple. The market rally was boosted by optimism about earnings growth and hopes for diplomatic progress on the Iran conflict.
Market Performance
The S&P 500 rose to a fresh all-time intraday high on Friday, boosted by Apple shares, while oil prices fell as a new month of trading got underway.
The S&P 500 advanced 0.54%, while the Dow Jones Industrial Average gained 0.37%, the Nasdaq climbed 0.69%, and the Russell 2000 rose 2.21%.
Apple's Strong Performance
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.
Market Sentiment
A strong first-quarter earnings season, as well as hopes for easing tensions in the Middle East, have ultimately boosted stocks higher on the year. Although the major averages took a dip on the commencement of the U.S. war with Iran, all three indexes are now trading well above where they began 2026.
Notable Declines
Roblox (RBLX) stock tumbled by 24% in premarket trading after the online game platform slashed its full-year 2026 bookings guidance. The company forecast revenue of $5.87 billion to $6.14 billion for the full year, down from its prior outlook of $6.02 billion to $6.29 billion.