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Apple, Amazon Earnings Disappoint, Overshadowing Strong Day on Wall Street: Closing Bell
Posted
May 1, 2025
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May 1, 2025
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11:05Now PlayingWall Street’s risk appetite raged anew on Thursday as strong tech earnings upended the ‘sell America’ narrative that rocked global markets last month in the grip of the tariff shock.
The S&P 500 rose for eight consecutive days, its longest winning streak since August. The Nasdaq 100 finished 1.1% higher. Microsoft Corp. and Meta Platforms Inc. jumped on upbeat results, boosting both the equities gauges. A report of the US weighing a potential easing of restrictions on Nvidia Corp.’s sales to the United Arab Emirates pushed shares higher during regular trading hours.
Treasury yields rose, with the 10-year rate around 4.22%, after investors slightly curbed their bets on US interest-rates cuts this year following factory activity data. A dollar index climbed on reports that Donald Trump’s administration reached out to China to start tariff talks.
Tech earnings largely drove optimism in the markets along with expectations that trade deals will offer many countries a reprieve from the highest tariffs first unveiled April 2. After parsing a slew of earnings, traders will turn their attention to the US jobs report that releases Friday, the last piece of significant data this week.
After the closing bell, traders awaited Apple Inc.’s earnings for details on how the company views the impact of tariffs. Its shares fell post-market after its sales from China declined more than anticipated in the latest quarter, overshadowing otherwise solid results for the iPhone maker.
Amazon.com Inc. gave an operating income forecast that missed expectations when markets closed, pushing shares lower in post-market trading.
Comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Alix Steel, Scarlet Fu, Carol Massar and Tim Stenovec.
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