Major New York stock indexes set fresh record highs, buoyed by Apple's strong earnings and falling international oil prices.
On Nov. 1 local time, the Standard & Poor's 500 closed at 7,230.12, up 21.11 points (0.29%) from the previous session, while the Nasdaq Composite gained 222.13 points (0.89%) to end at 25,114.44. The S&P 500 notched a record high for a second straight day, and the Nasdaq crossed the 25,000 mark for the first time. The blue-chip Dow Jones Industrial Average, however, fell 152.87 points (0.31%) to close at 49,499.27.
Among top tech stocks by market capitalization, Apple rose 3.24%, while Microsoft (1.63%), Google parent Alphabet (0.34%), Broadcom (0.92%) and Tesla (2.41%) also advanced. Nvidia (-0.56%) and Facebook parent Meta (-0.52%) declined despite the broader rally.
The New York market drew strength from Apple's surprise earnings released after the previous session's close. Apple reported fiscal 2026 second-quarter (January–March) revenue of $111.18 billion, up 17% from a year earlier. The figure topped Wall Street's forecast of $109.66 billion and marked an all-time high for a second quarter. iPhone revenue climbed 21.7% to $56.99 billion over the period but fell short of Wall Street's $57.21 billion estimate. This week, five of the so-called Magnificent Seven (M7) companies all posted results that beat market forecasts, lifting share prices.
International oil prices fell on news that Iran had delivered a new negotiation proposal to the U.S. through mediator Pakistan. On London's ICE Futures Exchange, Brent crude for July delivery settled 2.0% lower at $108.17 a barrel. On the New York Mercantile Exchange, U.S. West Texas Intermediate (WTI) crude for June delivery fell 2.98% to $101.94 a barrel. U.S. President Donald Trump said of the new proposal, "They want a deal, but I'm not satisfied with it."
