{"id":49389,"date":"2025-05-02T03:28:50","date_gmt":"2025-05-02T08:28:50","guid":{"rendered":"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/"},"modified":"2025-05-02T03:28:50","modified_gmt":"2025-05-02T08:28:50","slug":"market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/","title":{"rendered":"Market Rally Continues: S&#038;P 500 and Dow on Eight-Day Win Streak as Tech Earnings Drive Gains"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_82_2 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/#Major_Indexes_Extend_Winning_Streak_Amid_Positive_Tech_Earnings\" >Major Indexes Extend Winning Streak Amid Positive Tech Earnings<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/#Tech_Giants_Earnings_Drive_Market_Sentiment\" >Tech Giants&#8217; Earnings Drive Market Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/#China_Trade_Developments_Boost_Market_Sentiment\" >China Trade Developments Boost Market Sentiment<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/#Critical_Jobs_Report_Awaited\" >Critical Jobs Report Awaited<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/#Other_Notable_Market_Movers\" >Other Notable Market Movers<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/market-rally-continues-sp-500-and-dow-on-eight-day-win-streak-as-tech-earnings-drive-gains\/49389\/#Looking_Ahead\" >Looking Ahead<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Major_Indexes_Extend_Winning_Streak_Amid_Positive_Tech_Earnings\"><\/span>Major Indexes Extend Winning Streak Amid Positive Tech Earnings<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The U.S. stock market continues its upward momentum on Friday, May 2, 2025, with major indexes building on their recent gains. The <a href=\"https:\/\/stockmarketwatch.com\/indices\/sp500\/today\" data-internallinksmanager029f6b8e52c=\"3\" title=\"snp500 today\">S&#038;P 500<\/a> and <a href=\"https:\/\/stockmarketwatch.com\/indices\/dowjones\/today\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Dow Jones Today\">Dow Jones<\/a> Industrial Average are both riding eight-session winning streaks, while the Nasdaq Composite has recovered all losses since President Trump&#8217;s April 2 tariff announcement.<cscitation citation_id=\"task_1__1\"><\/cscitation><\/p>\n<p>As of early Friday trading, futures pointed to a higher open, with S&#038;P 500 futures rising 0.58%, Dow futures jumping 0.82% (333 points), and Nasdaq 100 futures advancing 0.35%. This positive sentiment follows Thursday&#8217;s session where the Dow added 0.21%, the S&#038;P 500 gained 0.63%, and the Nasdaq surged 1.52%.<cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Tech_Giants_Earnings_Drive_Market_Sentiment\"><\/span>Tech Giants&#8217; Earnings Drive Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The market rally has been primarily fueled by strong earnings reports from technology giants. Microsoft (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=MSFT\">MSFT<\/a>) and Meta Platforms (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=META\">META<\/a>) delivered better-than-expected quarterly results on Wednesday, sending their shares soaring 8.6% and 4.8% respectively on Thursday.<cscitation citation_id=\"task_3__3\"><\/cscitation><\/p>\n<p>However, after-hours trading on Thursday saw mixed reactions to earnings from other tech heavyweights. Apple (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AAPL\">AAPL<\/a>) reported fiscal Q2 earnings of $1.65 per share, beating estimates by 4 cents, on revenue of $95.36 billion. Despite iPhone sales growing 2% year-over-year, Apple shares fell approximately 4% in extended trading as the company warned of $900 million in additional costs in the current quarter due to tariffs.<cscitation citation_id=\"task_3__1\"><\/cscitation><cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<p>Amazon (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=AMZN\">AMZN<\/a>) also reported solid Q1 results with earnings of $1.59 per share, surpassing the $1.35 consensus, on revenue of $155.67 billion. However, the stock declined about 4% after hours as investors compared its AWS cloud business growth of 17% unfavorably to Microsoft&#8217;s Azure performance and reacted to lighter-than-anticipated Q2 operating income guidance.<cscitation citation_id=\"task_3__1\"><\/cscitation><cscitation citation_id=\"task_3__2\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"China_Trade_Developments_Boost_Market_Sentiment\"><\/span>China Trade Developments Boost Market Sentiment<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Adding to the positive market sentiment, investors cheered China&#8217;s announcement that it is evaluating the possibility of starting trade negotiations with the U.S. This development has helped ease concerns about the ongoing trade tensions that have contributed to market volatility in recent months.<cscitation citation_id=\"task_1__2\"><\/cscitation><\/p>\n<p><b>Despite the recent rally, the major indexes entered May having posted losses in three consecutive months amid uncertainty about tariff policies and their potential impact on the economy and global business operations.<\/b><cscitation citation_id=\"task_2__3\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Critical_Jobs_Report_Awaited\"><\/span>Critical Jobs Report Awaited<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Investors are now bracing for the April jobs report, scheduled for release Friday morning. Economists polled by Dow Jones anticipate payrolls grew by 133,000 last month, down significantly from the 228,000 added in March, with the unemployment rate expected to hold steady at 4.2%.<cscitation citation_id=\"task_1__2\"><\/cscitation><\/p>\n<p>This jobs report follows concerning economic data earlier this week, including a GDP reading showing the economy contracted 0.3% at an annualized pace in the first quarter, weak private payrolls data from ADP, and weekly jobless claims that rose unexpectedly to 241,000.<cscitation citation_id=\"task_1__2\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Notable_Market_Movers\"><\/span>Other Notable Market Movers<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Beyond the tech giants, several other companies saw significant stock movements following earnings reports. Nvidia (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=NVDA\">NVDA<\/a>), a prime beneficiary of the AI boom, rose 2.5% on Thursday as investors welcomed news that Microsoft and Meta plan to continue investing heavily in AI infrastructure.<cscitation citation_id=\"task_2__3\"><\/cscitation><\/p>\n<p>Reddit (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=RDDT\">RDDT<\/a>) shares surged 18% after hours following strong Q1 performance, with earnings of $0.13 per share far exceeding the $0.02 anticipated. Conversely, Block (<a href=\"https:\/\/thestockmarketwatch.com\/stock\/?stock=XYZ\">XYZ<\/a>) fell 12% after missing both top and bottom-line expectations and reducing guidance.<cscitation citation_id=\"task_3__1\"><\/cscitation><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Looking_Ahead\"><\/span>Looking Ahead<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>As the market heads into next week, investors will continue to monitor earnings reports and economic data for signs of how companies and the broader economy are navigating the uncertain trade environment. The Employment Situation report on Friday will likely set the tone for market sentiment in the coming days, while ongoing developments in U.S.-China trade relations remain a critical factor for market stability.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Major Indexes Extend Winning Streak Amid Positive Tech Earnings The U.S. stock market continues its upward momentum on Friday, May 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