Alain’s Holdings
| Symbol | Name | Price | Change | Change % |
|---|---|---|---|---|
| VOO | Vanguard S&P 500 ETF | 662.11* | +1.53* | +0.23%* |
| QQQ | Invesco QQQ Trust | 674.78* | +7.04* | +1.05%* |
| XIU.TO | iShares S&P/TSX 60 ETF | 50.12* | -0.07* | -0.14%* |
| VRT | Vertiv Holdings Co. | 329.14* | +0.65* | +0.20%* |
Nasdaq Crosses 25,000 for the First Time. Markets Welcome May with Fresh Records.
Wall Street opened the new month the same way it closed April — at record highs.
The Nasdaq led the way, surpassing the 25,000 level and closing at 25,114.44 — a new all-time record.
The S&P 500 advanced 0.29% to close at 7,230.12,
also a new closing high.
The Dow Jones Industrial Average slipped 152.87 points, or 0.31%, to 49,499.27.
Stocks kicked off May with records across the board, as Apple beat Q2 earnings and revenue estimates — sending shares up nearly 5% — and oil prices eased on hopes for a U.S.–Iran peace deal.
🍎 Apple Is the Story of the Day
Shares of Apple climbed more than 3% after the consumer tech giant posted a fiscal second-quarter earnings and revenue beat. 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.
Apple seemed convinced the good times will last, providing upbeat guidance and announcing a new stock buyback. For one, it reflects more strength out of the high-margin services business, which continues delivering. And it came even as analysts fretted about rising prices for memory chips that could hurt Apple’s margins.
🛢️ Oil Dips — But Don’t Get Too Comfortable
Brent crude settled at $108.17 a barrel, down 2% on the day — but Trump’s rejection of Iran’s latest offer signals the conflict and elevated energy prices aren’t resolved yet.
Exxon Mobil CEO Darren Woods had a message for investors: once in-transit supplies are exhausted and reserves drawn down, he expects prices to climb beyond today’s approximately $108/barrel. Even after the strait reopens, Gulf oil flows need one to two months to normalize — and then governments have to refill depleted stockpiles, adding a fresh wave of demand.
Exxon Mobil and Chevron managed to beat Wall Street’s first-quarter expectations even as the U.S. war with Iran delayed shipments and resulted in accounting charges. Chevron earned $1.41 per share on an adjusted basis, beating LSEG estimates of 95 cents.
📊 ISM Manufacturing: Stable Growth, Scary Prices
The ISM manufacturing index turned in a reading of 52.7, unchanged from March and just slightly below the Dow Jones consensus estimate of 53.0. While the headline reading was stable, the prices index surged another 6.3 points to 84.6 — the highest level since April 2022 — as companies reported higher charges from tariffs and surging energy costs associated with the Iran war. At the same time, employment dipped further into contraction at 46.4, down 2.3 points. Microsoft
🏆 Notable Winners
- Reddit (RDDT) jumped about 12% as daily active users in Q1 narrowly beat estimates, coming in at 126.8 million versus the 125.9 million forecast. Microsoft
- AIG gained over 6% after beating analyst expectations on earnings.
- Twilio (TWLO), Five9 (FIVN), Atlassian (TEAM), Roku (ROKU) were all up roughly 10% or more before the open on strong earnings results. MSDynamicsWorld.com
- ExxonMobil (XOM) edged higher on an earnings outperformance as oil production gains from South America and the U.S. offset output losses in the Persian Gulf. stocktitan
📉 Notable Losers
- Roblox (RBLX) tanked 21%. The online gaming platform slashed its guidance for full-year bookings, calling for a range of $7.33–$7.60 billion, down sharply from prior guidance of $6.02–$6.29 billion. Microsoft
- Spirit Airlines fell more than 62% to 52 cents a share after The Wall Street Journal reported the budget carrier was preparing to liquidate its fleet and end operations after failing to secure a $500 million government rescue package. Microsoft
- Moderna (MRNA) slipped on mixed earnings results.
🧭 The Big Picture & What’s Next
One theme reinforced this week: AI capital spending isn’t slowing, with outlays approaching $700 billion in 2026. Markets are rewarding AI spending that shows near-term monetization — as seen with Alphabet — and punishing spending without clear incremental returns, as seen with Meta. Expect sharper demands for AI return-on-investment disclosure next quarter. stocktitan
Next week brings a full host of jobs reports including April nonfarm payrolls, and a slew of tech earnings highlighted by Palantir (PLTR), Advanced Micro Devices (AMD), and Arm Holdings (ARM).
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