Stock Market Today: May 1, 2026 — Nasdaq Crosses 25,000 as Apple Earnings Beat Fuels Tech Rally
The S&P 500 notched a record close at 7,230.12 (+0.29%) on May 1, 2026, while the Nasdaq crossed 25,000 for the first time to finish at 25,114.44 (+0.89%), as Apple's blowout Q2 earnings and a surge in AI software stocks overpowered weakness in energy and industrials.
The S&P 500 and Nasdaq locked in back-to-back record closes on May 1, 2026, wrapping a week that confirmed the AI trade remains the tape's primary engine. Apple's fiscal Q2 beat drove the heaviest index weight higher by 3%, and earnings reactions in enterprise software — Atlassian up 29%, Twilio up 20%, Five9 up 16% — amplified the move in tech. Energy and industrials absorbed the heaviest selling as oil prices eased on Iran peace-talk signals and the ISM prices index flashed an inflationary warning that weighed on cyclicals.
What Moved the Stock Market May 1, 2026
| Index | Close | Change | % Change |
|---|---|---|---|
| S&P 500 | 7,230.12 | +21.11 | +0.29% |
| Nasdaq Composite | 25,114.44 | +222.13 | +0.89% |
| Dow Jones Industrial Average | 49,499.27 | −152.87 | −0.31% |
| Russell 2000 | 2,812.82 | +12.92 | +0.46% |
The S&P 500's first-ever close above 7,200 extended its year-to-date gain to +5.6%. The Nasdaq's first close above 25,000 pushed its 2026 gain to +8.1%. The Dow's 0.31% decline reflected drag from Chevron (CVX) and other energy and industrial components that offset the Apple-led lift. The Russell 2000's modest gain (+0.46%) brought its 2026 advance to +13.3%, still the strongest of the four major benchmarks.
May 1, 2026 VIX, Yields, and Commodities
The CBOE Volatility Index closed at 16.99, up a fractional 0.59% from 16.89 the prior session — a sign options markets stayed relaxed despite the geopolitical backdrop. The 10-year Treasury yield pulled in 16 basis points to 4.39% as the softer ISM manufacturing read and declining employment sub-index drew money into duration.
WTI crude (CL=F) settled at $105.07/barrel, reversing off an intraday spike above $106 after reports of back-channel Iran peace talks circulated mid-session. Gold (GC=F) added $25.00 to close at $4,558.30/oz (+0.55%), holding near all-time highs as central-bank demand and geopolitical risk premiums remain intact.
May 1, 2026 Sector Performance
Technology was the only sector with meaningful gains, propelled by Apple, Atlassian, and Twilio. Nine of 11 GICS sectors closed lower, with Energy registering the sharpest decline as oil pulled back from highs on peace-talk speculation and both energy majors posted year-over-year profit collapses despite elevated crude.
| Sector | ETF | Today % | YTD % |
|---|---|---|---|
| Information Technology | XLK | +1.41% | +13.0% |
| Communication Services | XLC | +0.68% | +13.1% |
| Health Care | XLV | −0.30% | +9.3% |
| Financials | XLF | −0.65% | +13.4% |
| Consumer Staples | XLP | −0.75% | +3.3% |
| Consumer Discretionary | XLY | −0.77% | +5.5% |
| Materials | XLB | −0.88% | +6.3% |
| Real Estate | XLRE | −0.92% | +1.9% |
| Utilities | XLU | −0.95% | +8.2% |
| Industrials | XLI | −1.14% | +12.5% |
| Energy | XLE | −1.44% | +16.9% |
May 1, 2026 Biggest Stock Movers
TEAM — Atlassian +29.1%
Atlassian's fiscal Q3 2026 results — reported after the April 30 close — delivered adjusted EPS of $1.75 against a $1.34 consensus (a 31% beat), with revenue of $1.79 billion (+32% year-over-year) versus the $1.70 billion estimate. The company raised full-year revenue growth guidance to approximately 24% and announced an expanded Google Cloud partnership embedding Rovo AI into Confluence via Gemini Enterprise. Service Management crossed $1 billion in annual recurring revenue. Shares reached an all-time high intraday.
TWLO — Twilio +20.3%
Twilio's Q1 2026 print drove its largest single-session gain since 2021. Adjusted EPS came in at $1.50 versus $1.14 expected; revenue of $1.41 billion grew 20% year-over-year. Management raised its full-year revenue growth range to 14–15% from a prior guide of 11.5–12.5%, citing surging enterprise demand for AI voice agents running on the Twilio platform.
RBLX — Roblox −18.0%
Roblox reported strong Q1 headline numbers — revenue up 39% to $1.44 billion, daily active users up 35% to 132 million — but slashed its full-year 2026 bookings guidance by roughly $900 million, cutting the range from $8.28–8.55 billion to $7.33–7.60 billion. A mandatory age-verification rollout locked nearly half of daily users out of chat features. Bank of America downgraded to Neutral and cut its price target from $165 to $48.
AAPL — Apple +3.0%
Apple's fiscal Q2 2026 earnings beat on every major line: EPS $2.01 vs. $1.95 consensus, revenue $111.18 billion (+17% year-over-year) vs. $109.66 billion estimated. Gross margin expanded to 49.3% vs. 48.4% expected. Services revenue set a record at $30.98 billion. iPhone revenue narrowly missed for the second consecutive quarter, but management raised Q3 guidance above its prior 13–16% range and shares opened at an all-time high.
FIVN — Five9 +16.4%
Five9 posted Q1 adjusted EPS of $0.76 (versus $0.62 estimated) on revenue of $305.3 million (+9% year-over-year), with subscription revenue growing 13%. The company raised its full-year 2026 revenue guidance to $1.254–1.266 billion and lifted adjusted EPS guidance to $3.22–$3.30, attributing the upside to accelerating enterprise AI agent deployments replacing legacy IVR infrastructure.
Macro & Policy — May 1, 2026
ISM Manufacturing PMI: April manufacturing activity registered 52.7%, matching March and coming in slightly below the 53.1% consensus — the fourth consecutive month of expansion. The headline masked a troubling sub-component: Prices Paid surged 6.3 points to 84.6%, its highest reading since early 2022, as Strait of Hormuz supply disruptions pushed up fuel and freight input costs. The Employment Index slipped 2.3 points to 46.4%, signaling manufacturing headcount contraction even as factory activity expands.
Geopolitics: President Trump maintained the U.S. naval blockade around Iran for a fourth consecutive week, keeping the Strait of Hormuz partially closed and WTI above $100/barrel. The European Union raised auto tariffs on U.S.-exported vehicles to 25%, hitting Volkswagen, Mercedes-Benz, and Stellantis with retaliatory exposure and adding to pressure on industrials.
May 1, 2026 Earnings Highlights
AAPL — Apple Q2 2026: EPS $2.01 vs. $1.95 consensus (+3.1% beat); revenue $111.18B vs. $109.66B (+17% year-over-year). Services revenue $30.98B (record). Gross margin 49.3% vs. 48.4% expected. Forward guidance raised above prior 13–16% growth range.
XOM — ExxonMobil Q1 2026: Adjusted EPS $2.09; reported net income $4.2 billion, down roughly 45% year-over-year despite higher oil prices. Revenue $85.1 billion. Hedging losses tied to the rapid crude price spike and Hormuz production disruptions masked the windfall in the headline number. The company cautioned about ongoing supply-chain strain from the blockade.
CVX — Chevron Q1 2026: Adjusted EPS $1.41 vs. $0.97 consensus (47% beat on the adjusted line); reported net income $2.21 billion, down roughly 37% year-over-year. Revenue $47.56 billion, essentially in line with the $47.54 billion estimate. Like Exxon, unfavorable hedge timing drove the profit decline rather than operational weakness.
What to Watch Next Week
- Geopolitical flash risk (Monday open): Reports emerged Friday evening that the UAE intercepted Iranian ballistic missiles over the weekend, with Iran threatening to expand its naval blockade radius. Watch XLE, airlines (DAL, UAL), and shipping for a potential oil spike on Sunday-night futures.
- April jobs report (Friday, May 8, 8:30 a.m. ET): The week's marquee macro print. Consensus entering the week centers on 155,000–175,000 nonfarm payrolls, unemployment 4.3%. A miss deepens recession concern; a hot print re-opens the rate-hike debate.
- JOLTS job openings (Tuesday, May 5) + ISM Services PMI (Wednesday, May 6): JOLTS updates labor demand ahead of payrolls; ISM Services consensus near 53.0 — a print below 51 shifts the soft-landing narrative.
- Earnings: PLTR Palantir, PINS Pinterest, and PARA Paramount all reported after Friday's close and set the tone for Monday's open — watch Palantir for AI infrastructure spend commentary and Pinterest for ad-market signals.