US shares climbed towards fresh highs on Friday, buoyed by strong quarterly results from companies like Apple and a retreat in oil prices, offsetting concerns over energy markets and geopolitical tensions.
US shares climbed back towards fresh records on Friday as a run of strong corporate results helped offset anxiety over energy markets, with Apple providing the clearest lift after reporting earnings that beat Wall Street’s expectations. The broader advance came as oil prices eased from earlier gains, calming investors in a week when concern over the conflict involving Iran had briefly pushed crude sharply higher.
The S&P 500 edged higher to another peak, while the Nasdaq Composite also set a new high. The Dow Jones Industrial Average added to its gains as traders digested a cluster of upbeat quarterly updates from large consumer and technology groups. According to Associated Press reporting, Apple’s shares rose after its latest results topped forecasts, while Estee Lauder and Colgate-Palmolive also advanced on stronger-than-expected earnings.
For Apple, the quarter brought record revenue and profit, with services and iPhone sales both hitting March-quarter highs, according to the company’s results. The board also authorised a further $100 billion in buybacks and lifted its dividend. Estee Lauder, meanwhile, said fiscal third-quarter net sales rose and that performance in fragrance and other segments helped lift margins, prompting it to increase its full-year outlook.
The market’s tone was also supported by a retreat in Treasury yields after a softer-than-expected US manufacturing reading and lower oil prices. Brent crude, which had surged earlier in the week on fears around shipping routes in the Middle East, finished lower on Friday. With many global exchanges shut for the May Day holiday, trading outside the US was comparatively muted, leaving Wall Street’s earnings story to set the pace.
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Source: Noah Wire Services
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The article was published on May 1, 2026, and reports on events from the same day, indicating high freshness. However, similar narratives have appeared in other reputable sources, such as the Associated Press, which reported on the same events on the same day. This suggests that the content may be based on a press release or aggregated from other sources, which typically warrants a high freshness score but raises concerns about originality. ([apnews.com](https://apnews.com/article/906fc294e936b548ee3993af4664f8e8?utm_source=openai))
Quotes check
Score:
7
Notes:
The article includes direct quotes from company representatives, such as Estee Lauder’s CEO Noel Wallace. However, these quotes cannot be independently verified through the provided sources, as they are not directly accessible online. This lack of verifiability raises concerns about the authenticity and accuracy of the quotes.
Source reliability
Score:
6
Notes:
The article originates from the South China Morning Post (SCMP), a reputable news organisation. However, the content appears to be summarised from other sources, including the Associated Press and the Los Angeles Times. This suggests that the SCMP article may be derivative, which raises concerns about the independence and originality of the reporting. ([apnews.com](https://apnews.com/article/906fc294e936b548ee3993af4664f8e8?utm_source=openai))
Plausibility check
Score:
8
Notes:
The claims made in the article align with industry trends and are plausible. The reported stock market movements and corporate earnings are consistent with other reputable sources. However, the lack of independent verification for some claims, particularly the direct quotes, reduces the overall confidence in the article’s accuracy.
Overall assessment
Verdict (FAIL, OPEN, PASS): FAIL
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The article reports on recent stock market movements and corporate earnings, with information that aligns with other reputable sources. However, the reliance on summarised content from other news organisations, the inability to independently verify direct quotes, and concerns about the originality and independence of the reporting raise significant issues. These factors lead to a ‘FAIL’ verdict with medium confidence, indicating that the content may not meet the necessary standards for publication without further verification and revision.
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