Business Signals

US stocks near new records as corporate earnings and oil prices influence market rally

Saturday, 2 May 2026 4:18AM UTC

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

More on this

https://www.scmp.com/news/world/united-states-canada/article/3352188/wall-street-rises-towards-more-records-oil-prices-slip?utm_source=rss_feed - Please view link - unable to able to access data
https://apnews.com/article/906fc294e936b548ee3993af4664f8e8 - On May 1, 2026, U.S. stock markets reached new highs, driven by better-than-expected corporate earnings and declining oil prices. The S&P 500 rose 0.3% to an all-time high, marking its fifth consecutive weekly gain, while the Nasdaq composite climbed 0.9% to its own record. Apple led the surge with a 3.3% stock rise after surpassing quarterly expectations. Other companies like Estee Lauder, Sandisk, and Colgate-Palmolive also reported strong earnings, bolstering the market. Despite global concerns over the war with Iran, which initially spiked oil prices due to fears about the Strait of Hormuz remaining closed, prices fell on Friday, with Brent crude settling at $108.17 per barrel. Exxon Mobil and Chevron reported higher profits but saw their stock prices decline due to year-over-year income drops and retreating oil prices. A softer-than-expected U.S. manufacturing report and falling oil prices led to lower Treasury yields, with the 10-year yield dropping to 4.38%, potentially easing borrowing costs across the economy. Most global markets were closed for May Day, but Tokyo’s Nikkei 225 rose and London’s FTSE 100 declined slightly.
https://www.fool.com/earnings/call-transcripts/2026/05/01/estee-lauder-el-q3-2026-earnings-transcript/ - Estee Lauder's Q3 2026 earnings call highlighted a 2% year-over-year increase in organic sales, driven by double-digit growth in fragrance and strong performance across most brands and geographies. The operating margin expanded by 360 basis points to 15%, with full-year guidance raised to 10.7%-11%. Diluted EPS reached $0.91, up 40% from the previous year, reflecting sales growth and disciplined cost management. Gross margin improved by 140 basis points to 76.4%, attributed to PRGP execution, zero-waste initiatives, and reduced excess and obsolescence.
https://www.macrumors.com/2026/04/30/apple-2q-2026-earnings/ - Apple reported record-breaking Q2 2026 results, with revenue of $111.2 billion and a net quarterly profit of $29.6 billion, or $2.01 per diluted share. This compares to revenue of $95.4 billion and a net profit of $24.8 billion, or $1.65 per diluted share, in the same quarter the previous year. Services revenue reached an all-time high, and both company revenue and iPhone revenue set March quarter records. Gross margin for the quarter was 49.3%, up from 47.1% in the year-ago quarter. The board authorized an additional $100 billion for share repurchases and declared an increased dividend payment of $0.27 per share, up from $0.26 per share, payable on May 14 to shareholders of record as of May 11.
https://www.elcompanies.com/en/news-and-media/newsroom/press-releases/2026/05-01-2026-110042145 - The Estée Lauder Companies reported fiscal 2026 third-quarter results, with net sales increasing by 4% compared to the prior year. The company raised its full-year outlook, projecting net sales growth of 3% to 5% and organic net sales growth of 1% to 3%. The impact of foreign currency translation was 1%, and returns associated with restructuring and other activities were not specified. The company also provided a reconciliation between GAAP and non-GAAP diluted net earnings per share, with the current forecast representing spot rates as of March 31, 2026.
https://www.zacks.com/stock/news/2913209/estee-lauder-q3-earnings-beat-estimates-2026-guidance-raised - Estee Lauder reported Q3 fiscal 2026 earnings that exceeded estimates, with earnings per share of $0.91 and sales of $3.72 billion, reflecting year-over-year growth. The company experienced growth across Skin Care, Makeup, and Fragrance segments, with margins boosted by PRGP cost savings. Estee Lauder raised its fiscal 2026 outlook, projecting up to 62% EPS growth and higher restructuring targets. The report highlights the company's strong performance and positive outlook for the remainder of the fiscal year.
https://www.latimes.com/business/story/2026-05-01/apple-leads-wall-street-to-more-records-as-oil-prices-pull-back - On May 1, 2026, the U.S. stock market set new records, driven by better-than-expected corporate earnings from companies like Apple and Estee Lauder. The S&P 500 climbed 0.3% to an all-time high, marking its fifth consecutive weekly gain, while the Nasdaq composite rose 0.9% to its own record. Apple led the surge with a 3.3% stock rise after surpassing quarterly expectations. Other companies, including Estee Lauder, Sandisk, and Colgate-Palmolive, also reported strong earnings, bolstering the market. Despite global concerns over the war with Iran, which initially spiked oil prices due to fears about the Strait of Hormuz remaining closed, prices fell on Friday, with Brent crude settling at $108.17 per barrel. Exxon Mobil and Chevron reported higher profits but saw their stock prices decline due to year-over-year income drops and retreating oil prices. A softer-than-expected U.S. manufacturing report and falling oil prices led to lower Treasury yields, with the 10-year yield dropping to 4.38%, potentially easing borrowing costs across the economy. Most global markets were closed for May Day, but Tokyo’s Nikkei 225 rose and London’s FTSE 100 declined slightly.

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.

US stock market
corporate earnings
oil prices