S&P 500 Closes at a New Record to Usher in May as Oil Prices Cool and Apple Rises: Live Updates

Why It Matters

A new S&P 500 record underscores strong investor confidence amid solid earnings and lower energy costs, setting the tone for May’s equity performance.

Key Takeaways

• S&P 500 hits record 7,230.12, up 0.29%.
• Apple shares rise 3.5% after earnings beat, revenue $111.2B.
• Oil prices drop to $103 per barrel as Iran‑US talks progress.
• Blue Owl jumps ~10% after 10‑times return on SpaceX investment.
• Trump vows 25% EU car/truck tariffs, sparking auto‑stock dip.

Pulse Analysis

The equity market entered May on a high note, with the S&P 500 posting a fresh record level of 7,230.12. The modest 0.29% gain was driven by a blend of strong corporate earnings—most notably Apple’s surprise beat that lifted its stock 3.5%—and a retreat in energy prices. Crude oil slipped to roughly $103 per barrel after reports of diplomatic progress between the United States and Iran, easing inflationary pressure on consumers and boosting risk‑on sentiment across the board. This combination of earnings resilience and cheaper energy created a favorable backdrop for both growth and value stocks.

Corporate headlines added nuance to the rally. Alternative‑asset manager Blue Owl surged nearly 10% after disclosing a ten‑fold return on its early‑stage stake in SpaceX, prompting Bank of America to reaffirm a bullish outlook with an 85% upside potential. In contrast, Spirit Airlines’ over‑the‑counter shares tumbled over 60% following reports of a pending shutdown, highlighting the lingering volatility in distressed‑debt plays. President Donald Trump’s announcement of a 25% tariff on European cars and trucks sent auto‑related equities, such as Stellantis, lower, underscoring how policy moves can quickly reshape sector dynamics.

On the macro front, the ISM manufacturing price index surged to a four‑year high of 84.6, reflecting cost pressures from tariffs and geopolitical tensions, while the overall manufacturing index held steady at 52.7. Meanwhile, dissenting Fed officials warned against forward guidance, signaling that monetary policy may stay restrictive longer than markets anticipate. Together, these data points suggest that while equity markets enjoy short‑term momentum, investors must monitor inflation‑driven cost spikes and policy‑driven volatility as they navigate the coming months.