Market Summary - May 1, 2026

US Market Overview

The US stock market opened with a strong upward momentum, driven by emerging hopes for de-escalation in the ongoing conflict in Iran. This optimism was further bolstered by a recovery in technology stocks following positive earnings reports.

Brent crude oil prices fell nearly 3% to around $107 per barrel, while WTI crude dropped about 5% to $100. This decline followed reports indicating that Iran is focusing on ending the conflict, although tensions remain due to Iran's ambitions regarding the Strait of Hormuz, which the US finds unacceptable.

Despite the fragile situation, the market reacted positively to any signs of de-escalation, alongside solid earnings from tech companies, pushing major indices to new highs. However, the ISM Manufacturing index showed disappointing results, remaining stagnant despite a significant increase in the price-related sub-index.

Technical Analysis of US500

The S&P 500 index opened with a gain of approximately 0.8%, reaching around 7,300 points. This follows a close above 7,200 points, indicating a potential for further appreciation, particularly driven by the technology sector. The VIX volatility index has decreased to 16.70, its lowest since early February, suggesting a dominant buyer sentiment and a temporary calming of market volatility.

The current rise in the US500 aligns with the 138.2% retracement level of the previous downward wave, marking a nearly 15% rebound since the end of March. If the recent consolidation is interpreted as a flag formation, the breakout could target the 7,500 to 7,700 point range.

Corporate News Highlights

• Apple (AAPL.US): Shares rose over 5% following strong financial results and optimistic revenue forecasts for Q3, despite concerns over rising memory chip costs and Mac shortages.
• Roblox (RBLX.US): Shares plummeted over 18% due to a report indicating lower-than-expected daily active users.
• Twilio (TWLO.US): The stock surged over 15% after reporting first-quarter revenue that exceeded market expectations.
• Moderna (MRNA.US): Shares gained over 7% in pre-market trading due to strong Q1 results but later lost nearly 4% during the first hour of trading.
• Memory Sector (Sandisk, Western Digital): Despite initial declines, both companies saw recovery, with Sandisk up about 4% and Western Digital reducing losses significantly.
• Cboe Global Markets (CBOE.US): Shares increased by 9% following announcements of cost reductions and a workforce cut of approximately 20%.
• Exxon (XOM.US) and Chevron (CVX.US): Both companies experienced slight declines of over 1% after reporting strong Q1 results, facing challenges due to limited production capacity linked to the Strait of Hormuz situation.