01 Stock Market
The S&P 500 and the Nasdaq advanced to record closing highs on Friday, boosted by robust earnings and a dip in crude prices, and turning the page on their biggest monthly percentage gains in years.
The S&P 500 joined the Nasdaq in positive territory, with tech strength putting the latter out front. Both indexes logged their sixth consecutive weekly advances, their longest run of weekly gains since October 2024.
Dow Jones declined 0.31% at 49,499.27; S&P 500 rose 0.29% at 7,230.12; NASDAQ gained 0.89% at 25,114.44.
Semiconductors and megacap tech stocks dominated the day’s unusual moves. SanDisk (SNDK) up 8.25% at $1,187.00 after upbeat results, while Oracle (ORCL) up 6.47% at $171.83 on strong cloud demand. Chipmakers were active: Intel (INTC) up 5.44% at $99.62, Micron (MU) up 4.84% at $542.21, and AMD (AMD) up 1.71% at $360.54; contrast that with NVIDIA (NVDA) down 0.56% at $198.45. EV bellwether Tesla (TSLA) up 2.41% at $390.82, whereas China’s NIO (NIO) fell 7.51% at $5.91. Other notable swings included Apple (AAPL) up 3.24% at $280.14, Lumentum (LITE) up 5.28% at $949.93, and optical-network firm AXT (AXTI) surging 21.18% at $96.00.
Robust earnings and product news steered sentiment toward growth sectors. Apple’s stronger-than-expected iPhone demand, Intel’s record-high trajectory, and Oracle’s upbeat guidance underscored resilience in the technology complex, helping offset caution around energy and cyclical names. Conversely, lingering concerns over Chinese EV demand weighed on NIO, while broad semiconductor enthusiasm lifted select suppliers such as Micron and AXT. Investors continued to reward firms announcing buybacks or upbeat outlooks, reinforcing the market’s focus on profit visibility amid an uncertain macro backdrop.
02 Other Markets
U.S. 10-year Treasury yield fell by 0.27%, latest at 4.38%.
USD/CNH rose 0.06%, at 6.86; USD/HKD rose 0.03%, at 7.83.
U.S. Dollar Index edged up 0.12%, at 98.20.
WTI crude futures fell 2.45%, at 102.50 USD/bbl; COMEX gold futures slipped 0.09%, at 1,4625.60 USD/oz.
03 Top News
Trump Tells Congress Iran Battle Is 'Terminated'
President Trump told Congress in a letter Friday that hostilities between the US and Iran have "terminated."
"There has been no exchange of fire between United States Forces and Iran since April 7, 2026," Trump wrote in the document that was seen by The Washington Post. "The hostilities that began on February 28, 2026, have terminated."
"Despite the success of United States operations against the Iranian regime and continued efforts to secure a lasting peace, the threat posed by Iran to the United States and our Armed Forces remains significant," the president said, adding he negotiated a two-week ceasefire on April 7 that was extended.
GameStop Preparing Offer for EBay - WSJ
GameStop (GME) is preparing to make an offer for eBay (EBAY), reported The Wall Street Journal on Friday.
According to the article, citing people familiar with the matter, GameStop has been quietly building a stake in eBay’s shares ahead of a potential offer.
eBay, which has a market cap of over $46B, rose 12% in extended trading.
GameStop could submit an offer for eBay as soon as later this month, WSJ said. If eBay isn’t receptive, GameStop CEO Ryan Cohen could decide to take the offer directly to eBay’s shareholders, the report added, citing one of the people.
Berkshire Hathaway Q1 Earnings, Annual Meeting Mark a Changing of the Guard
Berkshire Hathaway's (BRK.B) (BRK.A) new CEO, Greg Abel, will take center stage on Saturday at the investment behemoth's annual meeting after it releases Q1 earnings, as legendary investor Warren Buffett assumes a lower-profile role.
Before the meeting, though, investors will get a look at the size of the company's pile of cash. As of Dec. 31, 2025, its cash, cash equivalents, and short-term securities stood at $373.3B. That could be whittled down slightly after the company resumed stock buybacks in Q1.
Investors, too, will be focused on the insurance unit’s Q1 results after the business’s underwriting segment saw a 54% Y/Y drop in operating earnings in Q4, and its insurance investment income fell 25%.
Sources: Reuters, Dow Jones, Tiger Newspress, public market data
Disclaimer: This content is for reference only and does not constitute investment advice.