Wall Street extended its rally this week, erasing post-tariff losses as earnings season opened strong and major tech companies beat forecasts, according to Benzinga. Investor sentiment improved due to positive trade developments and a strong start to earnings season. The S&P 500 notched its longest winning streak since May 2024. Industrials and tech led gains, while energy stocks slumped alongside falling oil prices. First-quarter GDP contracted 0.3%, missing estimates. Stronger-than-expected April job gains highlighted labor market resilience and improved the overall economic outlook. Core PCE inflation slowed to 2.6%, while markets now await the Fed’s policy meeting and Chair Powell’s remarks.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Wall Street extended its rally last week,
00:04embracing post-tariff losses as earnings season opened strong
00:07and major tech companies beat forecasts, according to Benzinga.
00:10Investor's sentiment improved due to positive trade developments
00:13and a strong start to earnings season.
00:16The S&P 500 notched its longest winning streak since May 2024.
00:21Industrial's tech-led gains, while energy stocks slumped alongside falling oil prices.
00:25First quarter GDP contracted 0.3%, missing estimates.
00:29Stronger than expected April job gains highlighted labor market resilience
00:33and improved the overall economic outlook.
00:35Core PC inflation slowed at 2.6%,
00:38while markets now wait at the Fed's policy meeting and Chair Powell's remarks.
00:42For all things money, visit Benzinga.com slash GSTV.