Per day:
- S&P 500 +0.85%
- NASDAQ COMP +1.7%
- DJIA flat
- Russell 2000 +0.75%
- Toronto Company TSX +0.6%
per week:
- S&P 500 +2.3%
- NASDAQ COMP +4.5%
- Dow Jones +0.2%
- Russell 2000 +1.7%
- Toronto Companies TSX +0.5%
The S&P 500 and Nasdaq Composite hit all-time highs today. The surprisingly strong US jobs report — which added 115,000 jobs in April versus 55,000 expected — has overshadowed geopolitical concerns, keeping investors invested heavily in the ongoing tech boom. It was the sixth straight week of gains, the longest stretch since October 2024.
Demand for AI infrastructure continues to fuel semiconductor stocks. Micron shares rose 10% today, while Qualcomm shares jumped 9%, recording gains for the fourth day in a row. The broader semiconductor index rose as aggressively expanding companies continued to raise capital spending guidance.
On the downside, cloud security provider Cloudflare took a huge hit today, down 22%. The sharp decline came after the company issued a much weaker-than-expected sales forecast for the second quarter and announced it would cut nearly a fifth of its global workforce.
Fluence Energy was one of the biggest single stock gainers today, rising nearly 40%. The energy storage company broke its quarterly earnings report, due to growing demand for grid-scale energy storage products.
Intel shares rose 14% after posting first-quarter profits driven by a 22% jump in data center and artificial intelligence revenue. Sentiment was further boosted by a major new foundry contract for Elon Musk’s TerraFab initiative and reports of initial manufacturing talks with Apple.
Akamai shares rose 28% after announcing a landmark seven-year, $1.8 billion contract for cloud infrastructure with a leading AI company, said to be Anthropic. The massive deal overshadowed the company’s strong first-quarter earnings, highlighting Akamai’s growing role in supporting enterprise AI workloads.
Nasdaq Composite, daily
