US stocks rally likely to find fuel in earnings, jobs data amid oil surge
US stock indexes ended last week at record highs, driven by a stellar season for corporate profits, with over 100 S&P 500 companies set to post results this week. The S&P 500 rose more than 10% in April, while the Nasdaq jumped over 15%, as investors look to earnings reports and fresh employment data to drive the rally higher.
US stock indexes reached record highs last week, driven by strong corporate profits. The S&P 500 rose over 10% in April, and the Nasdaq jumped more than 15%. Over 100 S&P 500 companies are set to report earnings this week, with overall S&P 500 earnings on track to have climbed 27.8% in the first quarter from a year ago. Investors will also look to the April payrolls report, due on May 8, which is expected to show growth of 60,000 jobs. The rally is being driven by a stellar season for corporate profits, countering headwinds such as spiking oil prices and a more hawkish Federal Reserve. Companies such as Alphabet, Microsoft, and Meta Platforms have already reported mixed results, with investors eagerly awaiting reports from other major companies, including Palantir, Walt Disney, and Advanced Micro Devices.
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