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Wall Street extended its rally last week driven by strong tech results and economic stability, although rising energy costs and geopolitical tensions highlight underlying fragility in the market\u2019s bullish momentum.<\/p>\n<\/div>\n
Wall Street extended its spring advance last week, but the tone shifted as investors balanced stronger-than-expected earnings against renewed geopolitical anxiety and a rise in oil prices. The S&P 500 and Nasdaq Composite both closed at record highs several times during the week, and according to the article\u2019s figures they finished the five-session stretch higher, helped by a wave of Big Tech results and a generally resilient reading of the U.S. economy. That momentum, however, was interrupted on 28 April, when major indexes slipped as traders reassessed the impact of Middle East tensions on energy markets and AI-heavy shares came under pressure.<\/p>\n
The biggest driver remained corporate America, especially the large technology platforms reporting late in the week. Reuters-style market coverage in the supplied summaries shows that Alphabet stood out after producing stronger-than-expected profit, while Amazon also drew support from a solid quarter and Microsoft and Meta delivered results that were more mixed in the market\u2019s eyes. Microsoft\u2019s shares fell after investors worried about the durability of parts of its software model, even though cloud growth guidance remained encouraging. Meta was punished more severely after increasing planned capital spending, a move that sharpened doubts about whether its AI investment is yet earning enough faith from shareholders. Apple, meanwhile, joined the rally with a better-than-feared update that lifted its shares further.<\/p>\n
Outside the megacap names, the week\u2019s data releases reinforced the view that the economy is still holding up. The Federal Reserve left rates unchanged and Jerome Powell said growth remained solid and consumer spending was still hanging in well. Visa and Mastercard echoed that message in earnings commentary, describing consumer and business spending as healthy. Labour-market figures also pointed to stability, with initial jobless claims falling to a level not seen since 1969, while first-quarter GDP grew at a 2% annualised pace, slower than expected but a clear improvement on the previous quarter\u2019s 0.5%.<\/p>\n
That combination of sturdy earnings and a still-firm economy helped stocks recover quickly from earlier oil-linked jitters. AP reported that by 30 April the S&P 500 and Dow had climbed to fresh records, capping their best month in more than five years, while the Nasdaq also finished at an all-time high. Yet the week also underscored how fragile the rally can be if energy costs keep rising or if investors become less forgiving of rich valuations, particularly in the AI trade. For now, however, Wall Street appears more willing to look through the noise than it was a few weeks ago.<\/p>\n
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