US Accuses Mexican Governor Moya Of Cartel Conspiracy, Sheinbaum Demands Evidence
April 30, 2026
Bond yields fall, stocks rise as oil prices fall; yen jumps after Japan’s reported currency intervention
April 30, 2026By Stephen Culp and Niket Nishant
April 30, 20265:26 AM EDTUpdated 37 mins ago
Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., April 29, 2026. REUTERS/Brendan McDermid Purchase Licensing Rights, opens new tab
- Summary
- Companies
- Indexes up: Dow 1.51%, S&P 500 0.89% and Nasdaq 0.83%
- Alphabet rises after strong results
- Meta, Microsoft fall on capex concerns
- Eli Lilly gains after lifting forecast
NEW YORK, April 30 (Reuters) – U.S. stocks advanced on Thursday and the S&P 500 and the Nasdaq headed for their biggest monthly gains in years as solid corporate earnings helped investors look past a war-related oil supply shock that has rattled markets and sent crude prices to four-year highs.
But oil prices , eased as investors prepared to close the book on April with solid gains. The S&P 500 and the Nasdaq were on course for their biggest monthly percentage gains since the Covid crash recovery in 2020.
Industrials (.SPLRCI), opens new tab, powered by Caterpillar shares, put the Dow out front, while technology contained the Nasdaq’s gains in the wake of a spate of high-profile quarterly results released late Wednesday.
Four members of the Magnificent Seven group of artificial intelligence-related megacaps reported late Wednesday: Alphabet (GOOGL.O), opens new tab, Amazon (AMZN.O), opens new tab, Meta Platforms (META.O), opens new tab and Microsoft (MSFT.O), opens new tab. Of those, only Alphabet shares were in positive territory, jumping 9.7% after reporting a record quarter for its cloud unit.
Amazon was off 0.4%, while Meta and Microsoft slid 7.8% and 4.7%, respectively, on concerns over artificial intelligence-related expenditures.
Apple (AAPL.O), opens new tab, another Magnificent Seven constituent, was slated to report after the bell.
The Dow Jones Industrial Average (.DJI), opens new tab rose 738.90 points, or 1.51%, to 49,600.71, the S&P 500 (.SPX), opens new tab gained 63.31 points, or 0.89%, to 7,199.26 and the Nasdaq Composite (.IXIC), opens new tab gained 204.35 points, or 0.83%, to 24,878.32.
Of the 11 major sectors in the S&P 500, only technology (.SPLRCT), opens new tab was red, while communication services (.SPLRCL), opens new tab and industrials (.SPLRCI), opens new tab led the gainers.
CRUDE PRICES, INFLATION AND THE FED
A raft of economic data showed the U.S. economy grew by 2.0% in the first three months of 2026, while initial jobless claims dipped to their lowest since 1969 and soaring energy prices kept year-on-year inflation above 3%, thwarting hopes of near-term rate cuts from the Federal Reserve as Jerome Powell’s eight-year tenure as chair draws to a close.
“For now, we can label (inflation) as transitory,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. “However, if the war continues and energy prices do not come down from the present levels, that transitory inflation will become constant inflation and certainly a major headache for the Federal Reserve.”
On Wednesday, in its most divided vote since 1992, the central bank let its key interest rate stand, while acknowledging uncertainties related to heightened crude prices due to the conflict in the Middle East.
That conflict showed no sign of abating, with Iran warning of retribution if the United States abandons its ceasefire and renews its attacks, suggesting that efforts to negotiate a peace deal have hit an impasse. Top U.S. military leaders were expected to brief President Donald Trump on potential military action in Iran, a U.S. official told Reuters.
The possibility of protracted war, long-term disruption of traffic in the Strait of Hormuz, and the prolonged pressure on energy prices have dampened hopes for near-term policy easing from monetary policymakers.
Inflation gauges
Eli Lilly (LLY.N), opens new tab gained 10.3% after the drugmaker raised its annual profit forecast on sustained weight-loss drug demand.
Caterpillar (CAT.N), opens new tab shares rose 10.1%, touching a record high following the company’s reported rise in first-quarter profit due to strong demand for its power generation and construction equipment.
Advancing issues outnumbered decliners by a 3.54-to-1 ratio on the NYSE. There were 281 new highs and 47 new lows on the NYSE.
On the Nasdaq, 3,408 stocks rose and 1,237 fell as advancing issues outnumbered decliners by a 2.76-to-1 ratio.
The S&P 500 posted 29 new 52-week highs and 15 new lows while the Nasdaq Composite recorded 99 new highs and 86 new lows.
Reporting by Niket Nishant and Utkarsh Hathi in Bengaluru; Editing by Devika Syamnath, Shinjini Ganguli and Aurora Ellis
Our Standards: The Thomson Reuters Trust Principles., opens new tab
