MARKET RECAP

Yesterday: Stocks finished higher Thursday as Wall Street opened May on a strong note, thanks to upbeat earnings from tech giants Microsoft and Meta. The S&P 500 rose 0.6% to extend its winning streak to eight consecutive sessions. The Dow added 0.2%, while a strong day for tech lifted the Nasdaq 1.5%. Treasury yields rose, with the 10-year yield at 4.21%, while the U.S. dollar strengthened and oil prices climbed on new U.S. sanctions targeting Iranian crude. Manufacturing data was mixed, as the S&P PMI held in expansion territory at 50.2, while the ISM dipped to 48.7, signaling mild contraction, but still surprising to the upside. Jobless claims rose to 241,000, above estimates; however, the figure is still well below long-term averages as the labor market continues to show resilience.

On Our Radar: Analysts will be watching factory orders for additional clues about broader economic health. On the earnings front, ON Semiconductor, Tyson Foods and Cummins will headline a slate of major earnings reports that will be released before the market opens on Monday.

TOP STORY

Gold Leaves S&P 500 In The Dust With Biggest Outperformance In 14 Years

Gold just clocked its strongest outperformance over the S&P 500 in 14 years. Will the gold rush continue amid all the uncertainty, or will seasonality and history shake things up?

Dive in and discover all the latest insights.

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The New Industrial Ascent: Why Solar Power May Soon Be Made In Space

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FIVE ZINGERS

iFall: Despite beating analyst estimates on the top and bottom lines, shares of Apple tumbled as a closely-watched metric came up short. Here are all the details.

Prime Decline: Shares of Amazon dropped after the company provided light guidance for the next quarter. Here’s a closer look at the key factors and why its guidance could be subject to change.

Twilio Surge: Shares of the cloud communications platform popped after beating analyst estimates and raising its 2025 outlook. With strong cash flow and a stock buyback in place, here are a few reasons why the company is turning back into a Wall Street darling.

Block Shock: Shares of Block plunged after its latest earnings report came in well below expectations. Uncover the key details behind the selloff and what it means for the road ahead.

Upvote Upside: Reddit’s stock surged after a strong earnings report and plans to monetize one of its most iconic features. Read on to see how Reddit is turning engagement into opportunity.

ONE FOR THE ROAD

Bitcoin Breaks $97,000: Could A 'Synthetic Halving' Power A Run To All-Time Highs?

Bitcoin (BTC/USD), recently broke the $97,000 level and many predict an even more explosive move to the upside with ETFs, long-term holders, and institutions steadily shifting BTC into cold storage, reducing liquid supply.

Prices haven't surged because sellers still exist, including short-term traders and profit-takers, and large buyers accumulate gradually, not in sharp bursts. The true driver will be demand breaking the current equilibrium — when that happens, price action is expected to be sudden, violent and irreversible.

Institutions like MicroStrategy (MSTR) are buying more BTC than miners can produce monthly (13,500 BTC), creating a “synthetic halving.”

Read on for the full details and why.

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