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The S&P 500 and Nasdaq Composite extended their run of record highs this week, even as investors weighed a U.S.-Iran stalemate and a Wall Street Journal report that raised concerns about OpenAI’s financial sustainability. The Dow Jones Industrial Average marked a fifth straight loss on Wednesday after the Federal Reserve kept interest rates unchanged, but it rebounded with a 790-point gain to finish the month on Thursday.
Investors largely set aside worries about a prolonged naval blockade of Iran later in the week, turning instead to upbeat earnings from Alphabet, Amazon, Caterpillar, and Apple. All three major benchmarks ended April with strong gains, with the S&P 500 and Nasdaq delivering their best monthly performance since 2020 and both pacing for a sixth straight weekly gain.
Technology stocks were a focal point as several “Magnificent Seven” earnings reports were released. Amazon shares fell after reaching a fresh record high. Capex-related obstacles weighed on Meta Platforms and Microsoft. Traders also watched SoFi Technologies ahead of quarterly results, while Spotify Technology issued a dismal outlook.
Several other companies reported results during the week. Verizon Communications and Coca-Cola posted beat-and-raise results. Starbucks also reported, while General Motors shares fell despite a rosy outlook. Enphase Energy slipped after a revenue miss. Caterpillar secured a record high and helped lift the Dow following a top- and bottom-line win.
The first full week of May is expected to bring another wave of earnings, along with the ADP jobs report and broader U.S. employment data. Companies scheduled to report include Advanced Micro Devices, Cloudflare, Datadog, DraftKings, DoorDash, McDonald’s, Pinterest, Pfizer, and Super Micro Computer.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
