🧠 S&P 500 hits longest win streak in 20 years, Mag7's AAPL-AMZN-MSFT-META report earnings

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📊 US Markets

• S&P 500 $SPY ( ▲ 0.66% ) 📊 US stocks extend gains after surprisingly solid April job growth jobs report, S&P 500 heads for longest winning streak in 20 years – Sherwood by Robinhood: Liberation Day may have rocked financial markets, but angst over the outlook for the economy following tariffs did not immediately upend the US job market. Nonfarm payrolls rose by 177,000 in April, well above expectations for 138,000. The unemployment rate held steady at 4.2%, as anticipated.

• UK 100 $FTSE ( 0.0% ) 💂 UK’s FTSE 100 breaks record for longest winning streak – Rueters: London’s FTSE 100 index rose more than 1% on Friday, for its longest ever run of daily gains. The index notched fifteen consecutive sessions of gains. In 2017, the FTSE 100 had fourteen back-to-back daily rises. 

• German 40 $DAX ( ▲ 0.64% ) 🍻 German stocks climb on positive data from manufacturing upswing, rising export orders – Finimize: The DAX index rose by 2.62% – sparked by upbeat manufacturing data showing output at a 37-month high. Germany's manufacturing sector is enjoying an upswing, fueled by rising export orders that pushed its PMI to 48.4.

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🚀 The Magnificent 7

• Consumer Tech $AAPL ( ▲ 1.02% ) 🍎 Apple shares fall as Cook says ‘very difficult’ to predict tariff costs beyond June – MacRumors: Apple Q2-2025 earnings beat expectations, but the company’s closely-watched Services division came up light versus estimates.

  • CNBC: After landmark ruling, Apple clears Spotify update under new rules allowing purchases within apps

  • TechCrunch: Apple CEO Tim Cook says tariffs to add $900M in costs in Q3

  • BBC: Apple says most US-bound iPhones no longer made in China

• Retail-Hyperscaler $AMZN ( ▲ 1.31% ) 🛒 Amazon falls short on cloud revenue for third straight quarter – CNBC: The online retailer’s North American and international sales came in $92.9B and $33.5B, a 8% and 5% increase year-over-year increase. AWS revenues, the company’s profit engine, came in slightly lower than expected at $29.3B, suggesting demand for cloud and AI workloads remains strong. Ad sales surpassed estimates, rising 19% year-over-year to $13.9B.

  • CNBC: Amazon to spend $4B on small town delivery expansion

  • CNBC: Jeff Bezos discloses plan to sell up to $4.8B in stock

• Tech-Hyperscaler $MSFT ( ▼ 0.03% ) 👩‍💻 Microsoft beats Q3 earnings estimates on top and bottom line on strong cloud bookings – Yahoo! Finance: Microsoft delivered better-than-expected results on the top and bottom lines, as the Azure cloud business exceeded analysts’ estimates.

  • Quartz: Amazon beats on earnings as ad sales surge. But Microsoft's cloud growth may steal the show

• Social Media $META ( ▲ 2.6% ) 👥 Meta Platforms crushes Wall Street’s earnings and revenue targets – Yahoo! Finance: Meta reported stronger-than-expected revenue in Q1-2025 with Q2 revenue expected will be in range of $42.5-$45.5B. Meta increased its 2025 capital expenditures to come in between the range of $64B-$72B due in part to “an increase in the expected cost of infrastructure hardware.”

  • CNBC: Meta says China retailers are reducing digital ad spend

  • Sherwood by Robinhood: Meta says that Threads now has more than 350 million monthly active users

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🦾 Artificial Intelligence

• Compute $NVDA ( ▲ 5.63% ) 🧇 Nvidia CEO Jensen Huang warns China is ‘not behind’ in AI – CNBC: At a tech conferance in Washington DC, Nvidia CEO Jensen Huang said that “China is right behind us … in a long-term, infinite race” and that Huawei is “one of the most formidable technology companies in the world.”

• Applications $DUOL ( ▲ 2.63% ) 🦉 Duolingo jumps aboard the 'AI-first' train, will phase out contractors – TheRegister: Duolingo has become the latest tech firm to declare itself 'AI-first,' with CEO Luis von Ahn telling staff the biz hopes to gradually phase out contractors for neural networks to take over.

• Real-Estate $D ( ▼ 1.9% ) 🌐 Data center boom in world's largest market isn't slowing down, Dominion Energy says  – NBC News: Dominion provides electricity in Loudoun County, Virginia, nicknamed “Data Center Alley” because it hosts the largest cluster of data centers in the world.

• Hardware $SMCI ( ▲ 16.02% ) 🗄️ Super Micro slumps on forecast cut, analysts downplay broader AI demand concerns – Rueters via Yahoo! Finance: The server maker’s shares tumbled after the company slashed revenue forecast, blaming delays in purchases from customers. Super Micro is trying to regain investor confidence following late filings and short-seller attacks, fanning worries that spending on AI infrastructure remains uncertain.

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🛒 Consumer Staples

• Transports $UPS ( ▼ 1.38% )📦 UPS Q1-2025 profit beats estimates, to cut 20,000 jobs on likely lower Amazon shipments – CNBC: In an uncertain economy with anticipation of weak volumes from its largest customer, the parcel delivery giant expects to save $3.5B in 2025 from job cuts and by shutting 73 leased and owned buildings by the end of June.

• Beverages $KO ( ▼ 0.82% ) 🥤 Coke keeps full-year forecast, says it expects tariff disruptions to be ‘manageable’ after Pepsi cuts earnings outlook – CNBC: The beverage giant topped Q1-2025 earnings and revenue estimates, and also reiterated its full-year forecast, despite global trade conflicts that could increase some costs, like aluminum. Coke’s unit case volume grew 2% in the quarter, lifted by growth in India, China and Brazil.

• Healthcare $NVO ( ▼ 3.45% ) 💊 Novo Nordisk opens weight loss drug Wegovy to telehealth; Hims & Hers shares rocket 30% – CNBC: The Danish drugmaker said it will offer its weight loss drug Wegovy through telehealth providers Hims & Hers Health, Ro and Life MD in a race to capture more patients now that many compounding pharmacies are legally-restricted from making cheaper, unapproved versions of Wegovy.

• Banking $XYZ ( ▲ 5.73% ) 💱 Block sheds nearly 20% of its market cap after Q1 miss, now worth less than what it paid for Afterpay in 2022 – CNBC: The fintech firm reported weaker-than-expected Q1-2025 results and slashed its full-year outlook. Monthly Cash App actives remained flat at 57M and inflows rose just 8%, despite new features like Afterpay on the Cash card.

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🛍 Consumer Discretionary

• Restaurants $MCD ( ▼ 1.04% ) 🍟 McDonald’s reports largest U.S. same-store sales decline since 2020 – CNBC: The fast food giant narrowly beat on earnings per share but fell short on revenue, as same-store sales shrank 3.6% during Q1-2025 as the chain faced bad weather and a more cautious consumer. The drop is the worst since the 8.7% plunge during the Q2-2020 early pandemic period.

• Automakers $GM ( ▲ 1.71% )🚘 General Motors beats estimates, reassesses full-year guidance amid auto tariffs – CNBC: The automaker’s Q1-2025 earnings beat expectations, but declined to say it was formally withdrawing or suspending the guidance, calling it unreliable until the company has additional clarity on the economic and regulatory environments.

• Retail $FIVE ( ▼ 1.74% )🏷️ Five Below raises its guidance despite 145% China tariffs, sending shares up – Sherwood by Robinhood: The discount retailer, which imports 60% of its total cost of goods from China, is raising its first-quarter guidance in spite of the 145% tariffs. The company now expects first-quarter sales to hit $967M, up from between $905M-$925M.

• Travel $ABNB ( ▲ 2.86% )🏘️ Airbnb beats expectations, but stock drops on US travel uncertainty – Sherwood by Robinhood: Airbnb said it has seen softness in demand for travel in the US, but that was offset by international demand.

  • TechCrunch: Airbnb quietly rolling out an AI customer service bot

• Social Media $RDDT ( ▲ 1.47% ) 👥 Reddit reports strong Q1-2015 sales and issues optimistic guidance – CNBC: The social media forum said Q2-2025 sales should come in the range of $410M-$430M, ahead of $396M estimates. “Ever-shifting macro environments like these create both challenges and opportunities,” Reddit CEO Steve Huffman said in a letter to shareholders. “We’re well-positioned to meet this moment.”

• Social Media $SNAP ( ▼ 1.19% ) 🤳 Snap sinks after withholding guidance, citing ad concerns – CNBC: The social media company reported better-than-expected Q1-2025 revenues but declined to provide guidance, citing macroeconomic uncertainties. Finance chief Derek Andersen said some advertisers have reported an impact from changes to the de minimis exemption scheduled to end on May 2.

👛 Personal Finance

• Gen X 🏖️ There’s a new ‘super funding’ catch-up limit for Gen X 401(k) savers in 2025 – CNBC: For 2025, retirement savers age 50 and older can defer up to $23,500 into your 401(k), plus an extra $7,500 for “catch-up contributions.”. For workers age 60 to 63, that catch-up limit has jumped to $11,250 in 2025. According to Fidelity data, some 97% of retirement plans have added the feature

• Wealth Transfer 💸 More Americans are moving money, but who, why, and where? – InvestmentNews: A Hearts & Wallets report reveals an estimated $800B was moved in retirement rollovers in 2024, but transfer of assets and new deposits together totaled $1.3T. This underscores a shift in how clients are engaging with finances, with implications for acquisition and retention strategies.

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We’ll be back next Saturday morning to recap the week’s financial news.

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✨ Happy Unprompting,

Rawee
[email protected]

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