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US equities advanced to fresh highs on the back of strong corporate earnings and easing oil prices. The S&P 500 and Nasdaq 100 each gained 0.8%, closing at new records, while the Dow added 0.5%. Apple climbed more than 5% after posting robust results and guidance, driven by solid demand for its latest iPhone and a strong performance in China.
Energy majors were also in focus, with ExxonMobil and Chevron both topping first-quarter profit forecasts. However, their share prices were little changed as Iran submitted a new agreement proposal to the US, seen as a step toward eventually resuming oil exports from the Persian Gulf.
Elsewhere, Meta’s decline stabilized, and Oracle rallied more than 7% as investors continued to assess whether companies’ signals of higher AI-related spending are supported by underlying demand, amid mixed earnings momentum among hyperscalers. According to the latest data, AI investment was a key driver of US GDP growth in the first quarter, helping to counterbalance signs of weakening private consumption.
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