Apple Earnings Boost US Indices Amid Persistent Middle East Tensions

US stock futures are signaling a cautious but positive start to trading, with the Dow Jones and S&P 500 seeing modest gains. This momentum follows the strongest monthly performance for US equities since 2020, driven by a combination of favorable economic data and robust corporate earnings. The market is currently navigating a complex environment where strong corporate fundamentals are offsetting significant geopolitical risks. The conflict in the Middle East has entered its 60th day, keeping oil prices above $110 per barrel and raising concerns about the continued closure of the Strait of Hormuz, which threatens global supply chains. Apple Inc. provided a significant boost to investor sentiment after reporting March quarter revenue of $111.18 billion, a 17% increase that surpassed analyst expectations of $109.46 billion. The company reported earnings per share of $2.01, with growth primarily fueled by the iPhone and Services segments, the latter of which saw handset revenue rise 22% to $57 billion. A notable highlight for Apple was the recovery in China, where revenue surged 28% to $20.5 billion. This turnaround in a key market helped push Apple shares 2.8% higher in after-hours trading. While Big Tech continues to provide a floor for the indices, the persistence of high energy costs remains a primary risk factor for global economic stability.