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Nasdaq Composite, S&P 500 Hit New Highs on May 1; Crude Oil Falls 2-3%

GateNews

Stocks Indices Commodities

2026-05-01 20:03:46

On May 1, the Nasdaq Composite and S&P 500 reached new highs for the second consecutive day. The Nasdaq Composite rose 0.89% to close at 25,114.44 points, while the S&P 500 gained 0.29% to 7,230.12 points. The Dow Jones Industrial Average declined 0.31% to 49,499.27 points. Crude oil prices fell sharply, with WTI crude down 2.98% to $101.94 per barrel and Brent crude down 2.02% to $108.17 per barrel. Market strength was driven by strong earnings growth from major tech companies, semiconductor manufacturers, and software developers in the artificial intelligence sector.

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