[New York Stock Exchange] Uptrend Driven by Strong Earnings and Declining Oil Prices

As international oil prices declined and strong earnings continued, the three major U.S. stock indices all opened higher on May 5 (local time).

According to the home trading system (HTS), at 10 a.m. on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average was up 190.79 points (0.39%) from the previous trading day at 49,132.69. The S&P 500 Index, which focuses on large-cap stocks, rose by 47.86 points (0.66%) to 7,248.61, while the tech-heavy Nasdaq Index jumped 200.48 points (0.80%) to 25,268.28.

The decline in international oil prices appears to have stimulated investor sentiment. At this time, West Texas Intermediate (WTI) crude oil on the New York Mercantile Exchange was trading at $102.20 per barrel, down 3.97% from the previous session. Brent crude oil on the ICE Futures Exchange was at $111.15 per barrel, down 3.25% from the previous session.

Although there was a military standoff between the United States and Iran in the Strait of Hormuz, the U.S. Department of Defense's announcement that the ceasefire remains in effect also appears to have boosted the indices. On this day, Secretary of Defense Pete Hegseth stated at a briefing, "The ceasefire is certainly being maintained," adding, "Two U.S. merchant ships and destroyers have already safely passed through the strait, demonstrating that the route is secure."

Earnings reports led the market. Pfizer announced that its first-quarter revenue was $14.45 billion, a 5% increase compared to the same period last year. CNBC reported that growth in major product sales helped offset the underperformance in its COVID-19-related business.

Anheuser-Busch InBev, the beer company, also saw beverage sales volume increase in the first quarter for the first time since 2023. Contrary to expectations of a decline, sales volume actually rose by 0.8%, which was another positive factor. As a result, the company's share price jumped by 7%.

This content was produced with the assistance of AI translation services.