economy

S&P 500 Extends Winning Streak to 6 Weeks. What Drove the Stock Market Gains

Investors cheered positive earnings, economic data, and a high-profile AI partnership.

S&P 500 Extends Winning Streak to 6 Weeks. What Drove the Stock Market Gains

TL;DR

  • The S&P 500 and Nasdaq closed at record highs, marking their longest winning streaks since 2024.
  • Investor focus remained on the Iran conflict and potential peace talks, alongside a mixed economic data landscape.
  • The April jobs report showed a rise in nonfarm payrolls but did not definitively signal a near-term interest rate cut from the Federal Reserve.
  • Cybersecurity stocks, including CrowdStrike and Palo Alto Networks, saw significant gains following Fortinet's upbeat guidance.
  • Corning's stock surged after announcing upbeat financial forecasts and a major supply agreement with Nvidia to boost optical fiber production for AI infrastructure.

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