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Earnings Score 68 Bullish

Apple Earnings Beat and Falling Oil Prices Fuel Wall Street Optimism

May 01, 2026 12:50 UTC
AAPL, CL=F
Immediate term

U.S. equity futures point to a higher open as Apple shares surge following strong fiscal second-quarter results. A decline in crude oil prices and positive momentum from previous record closes further support the bullish sentiment.

  • Apple (AAPL) shares jump 3.6% on earnings beat and raised guidance
  • S&P 500 and Nasdaq hit record closing highs in the previous session
  • Crude oil futures drop over 2% to $102.82 amid geopolitical developments
  • ISM Manufacturing PMI expected to increase to 53.0
  • Dow Jones Industrial Average closed Thursday at 49,652.14

Wall Street is poised for an extended rally on Friday, driven by a strong pre-market performance from Apple Inc. (AAPL). The tech giant's shares rose 3.6% after the company reported fiscal second-quarter results that exceeded expectations and provided a revenue forecast for the current quarter that topped analyst estimates. This momentum follows a powerhouse session on Thursday, where the S&P 500 and Nasdaq both achieved new record closing highs. The Dow Jones Industrial Average surged 790.33 points, or 1.6%, to close at 49,652.14, while the S&P 500 gained 1% to 7,209.01 and the Nasdaq rose 0.9% to 24,892.31. Adding to the positive sentiment is a sharp pullback in energy costs. U.S. crude oil futures tumbled more than 2%, dropping to $102.82 a barrel. This decline follows reports that Iran has delivered a response to U.S. amendments regarding an agreement to end the war, transmitted via Pakistani mediators. Investors are now awaiting the Institute for Supply Management (ISM) manufacturing report, with the PMI expected to rise to 53.0 from 52.7. Globally, the Asia-Pacific region saw mostly higher trading, though European markets remain largely closed for May Day, with the exception of the U.K.'s FTSE 100, which dipped 0.6%.

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