Stock market futures showed gains Friday morning following Wall Street’s most impressive monthly performance in years, as strong corporate earnings helped offset worries about significant disruptions in global oil markets.
Technology giant Apple saw its shares climb 2.8% during pre-market trading after strong sales of its iPhone 17 and MacBook Neo devices led the company to project healthy revenue growth for its upcoming fiscal third quarter.
Fresh economic data revealed that U.S. growth picked up momentum during the opening quarter of the year while inflation rose in March, supporting arguments for maintaining higher interest rates, though these factors haven’t dampened the stock market surge.
The current buying enthusiasm might face challenges ahead. Household spending, which drives most economic activity, slowed during the quarter. Additionally, the rate at which Americans save money dropped, indicating people are drawing from their savings accounts to maintain their spending habits.
The economic figures only capture one month of disruption from the ongoing Middle East conflict. As this war continues with no clear resolution, rising fuel costs could place additional strain on family budgets, particularly as first-quarter tax refund benefits fade.
Oil prices for Brent crude have surged past $110 per barrel due to ongoing disruptions affecting the critical Strait of Hormuz shipping corridor.
“GDP expanded at a respectable-looking pace in Q1, but a glance under the hood suggests the economy’s underlying momentum already was anemic before the energy shock was felt in earnest,” said Samuel Tombs, chief U.S. economist at Pantheon Macroeconomics.
This situation arrives at a challenging time for investors as markets move into May, which historically marks the beginning of a six-month period of weaker stock performance.
Historical data from Fidelity shows that from 1945 through April 2026, the S&P 500 has averaged approximately 2% growth from May through October. This contrasts with roughly 7% average gains during the November through April period.
Early Friday morning at 5:12 a.m. ET, Dow E-minis had gained 44 points or 0.09%, while S&P 500 E-minis increased 4.5 points or 0.06%. Nasdaq 100 E-minis declined 40.25 points or 0.15%.
April concluded with the S&P 500 recording its largest monthly percentage increase since November 2020, while the Nasdaq Composite posted its strongest showing since April 2020. The Dow’s monthly advancement represented its best performance since November 2024.
Notable pre-market movements included gaming platform Roblox, which dropped 23.5% after reducing its annual bookings projections.
Social media platform Reddit jumped 16.1% following an optimistic quarterly revenue outlook.
