U.S. Equity Markets Climb Despite Rise in Jobless Claims — Tech and Communication Lead the Gains | May 1, 2025
U.S. stock markets closed higher on Thursday, shrugging off a spike in weekly jobless claims as strong earnings from major tech firms boosted investor sentiment.
U.S. stock markets closed higher on Thursday, shrugging off a spike in weekly jobless claims as strong earnings from major tech firms boosted investor sentiment.
- S&P 500 rose 0.6% to 5,604.11
- Nasdaq gained 1.5% to 17,710.74
- Dow Jones Industrial Average edged up 0.2% to 40,752.78
Top Gainers
- Carrier Global (CARR): +11.9% — Beat Q1 earnings and revenue estimates; raised 2025 guidance.
- Microsoft (MSFT): +7.6% — Strong Q3 earnings driven by cloud growth; top performer on the Dow.
- Quanta Services (PWR): +9.9% — Delivered better-than-expected earnings and revenue.
- Olo Inc. (OLO): +15% — Shares surged on reports of a potential sale.
- Eli Lilly (LLY): Initially beat Q1 estimates thanks to strong drug sales, but...
Top Losers
- Eli Lilly (LLY): -11.6% — Despite Q1 beats, shares sank after cutting full-year profit guidance due to an acquisition charge.
- Becton Dickinson (BDX): -18% — Missed Q2 revenue expectations and lowered full-year forecast, making it the worst performer on the S&P 500.
Other Key Market Moves
- U.S. Treasury Yields:
- 10-year rose to 4.2% (+5 bps)
- 2-year increased to 3.7% (+9 bps)
- Commodities:
- Oil (WTI June): +1.4% to $59.01 per barrel
- Gold: -2.5% to $3,237.20/oz
- Silver: -0.7% to $32.61/oz