Following impressive April gains, stocks were mixed to kick off the new month. The S&P 500 and Nasdaq both marked record closes as Apple's (AAPL) post-earnings surge helped lift sentiment, while falling oil prices added tailwinds as well. The Dow, meanwhile, slipped 152 points, marking its sixth loss in the last seven sessions. The blue-chip index still managed a weekly win, however, thanks to yesterday's 790-point pop, while the S&P 500 and Nasdaq both notched their sixth-straight weekly gains.
Continue reading for more on today's market, including:
- Nebius stock heating up as AI trade gains traction.
- Subscribe to our Substack, The Contrarian Edge, for a fresh market take.
- Plus, streaming giant nabs bull note; Reddit's revenue beat; and SNDK tripped.
5 Things to Know Today
- Exxon Mobil (XOM) and ConocoPhillips (COP) met with Venezuelan officials to assess opportunities. (The Wall Street Journal)
- The Trump administration refused to make a financial lifeline deal to save Spirt Airlines from shutting down. (The New York Times)
- This streaming favorite scored a double upgrade today.
- Strong revenue and AI-driven ad growth lifted Reddit stock.
- SanDisk stock cooled down despite a quarterly beat.
Oil Cools Off, Gold Marks Weekly Loss
Oil prices pulled back Friday after Iran submitted a revised peace proposal to mediators in Pakistan, reviving hopes that a deal with the U.S. may still be on the table. June-dated West Texas Intermediate (WTI) fell 3% to settle at $101.94 per barrel, but nearly 6% for the week.
Gold prices fell on Friday, as persistent inflation fears sparked concerns over interest rates. June-dated gold futures fell 1.1% to settle at $4,579.70 an ounce, and dropped 1.2% for the week.
