Dow, S&P 500, Nasdaq climb as 'Magnificent Seven' earnings buoy hopes for AI boom

April 30, 2026

Dow, S&P 500, Nasdaq climb as 'Magnificent Seven' earnings buoy hopes for AI boom

Breaking News

Image source: AI-generated image created with OpenAI.



US stocks rose on Thursday as oil prices pulled back from four-year highs and key Big Tech earnings reports cemented optimism for a continued boom in AI demand.

Dow Jones Industrial Average futures climbed roughly 0.7% following a lackluster Wednesday for Wall Street stocks.

Contracts on the tech-heavy Nasdaq 100 moved up 0.3%, while those on the S&P 500 put on about 0.3%.

In early morning trade, oil prices reached their highest level since 2022 on an Axios report that President Trump is looking at fresh military options against Iran.

Brent crude June futures surged 7% to top $126 a barrel amid concerns of an escalation in hostilities, but fell to below $117 in bumpy trade. Yahoo Finance reports.

EdgeUp

🧠 'Magnificent 7' earnings rush reveals AI spending surge, with hyperscaler capex set to reach $725 billion in 2026

The biggest companies making the biggest artificial intelligence investments signaled Wednesday that they’re not done raising their investment ambitions to meet this moment.

On Wednesday, Microsoft, Amazon, Meta Platforms, and Alphabet each reported quarterly results.

Ahead of these results, we argued that the most important number to emerge from the reports would be estimated capital expenditures from the big four hyperscalers. Yahoo Finance reports.


📡 Inseego to acquire Nokia's Fixed Wireless Access business to create a global wireless broadband leader. Rises in Pre-Market

Inseego and Nokia announced that they have signed an agreement in which Inseego will acquire Nokia’s Fixed Wireless Access CPE business, subject to the satisfaction of customary closing conditions.

The transaction will strengthen Inseego’s position as a global wireless broadband leader with a broader portfolio spanning fixed wireless, mobile broadband, and cloud-managed connectivity for consumer and business markets, and is expected to approximately double the company’s revenue and give it a global footprint. Globe Newswire reports.


📡 AI boom lifts Nokia sales, shares hit 16-year high after earnings beat

Nokia raised the growth targets for its artificial intelligence business on Thursday, after the network gear maker beat market expectations for quarterly comparable operating profit, sending its shares to their highest level in 16 years.

Comparable operating profit jumped 54% to 281 million euros ($329 million) in the first quarter of 2026.

That was above the average estimate of 250 million euros from analysts polled by Infront.

Nokia's shares rose nearly 7% in early Helsinki trading, touching their highest price since April 2010, when it was still known as a phone company. Yahoo Finance reports.


🧬 PROCEPT BioRobotics Reports First Quarter 2026 Financial Results. Up 15% in Pre-Market

PROCEPT BioRobotics Corporation, a surgical robotics company focused on advancing patient care in urology, reported unaudited financial results for the quarter ended March 31, 2026.

"Over the past six months, we have taken decisive actions to reset the organization by sharpening our focus on operational excellence, accountability, and commercial discipline, and our first quarter results reflect the early impact of that work," said CEO Larry Wood.

The company delivered $83.1 million in revenue, driven by strong U.S. system sales and improved pricing. Globe Newswire reports.


🧪 VIAVI announces third quarter fiscal 2026 results, stock surges in pre-market

VIAVI today reported results for its fiscal third quarter ended March 28, 2026.

"VIAVI's financial performance for the third quarter has exceeded our expectations, driven by strong growth in the data center and aerospace and defense end markets. We expect these end markets to continue to be strong drivers for the foreseeable future," said Oleg Khaykin, VIAVI's President and Chief Executive Officer. PR Newswire reports.


🔐 FatPipe expands public sector and education procurement access, stock rises 19% in pre-market

FatPipe, a pioneer in secure software-defined wide area networking and cybersecurity solutions, announced expanded availability of its offerings across multiple government and education procurement contract vehicles, simplifying purchasing for public sector organizations nationwide.

"We are making it easier for government and education customers to access our secure SD-WAN and cybersecurity solutions while accelerating deployment timelines by expanding our presence across leading contract vehicles," said CEO Dr. Ragula Bhaskar.

FatPipe's single-stack platform integrates SD-WAN, network security, and centralized management, enabling public sector organizations to improve network reliability, enhance cybersecurity posture, and support mission-critical operations. Access Newswire reports.


🧠 Everspin reports unaudited first quarter 2026 financial results

Everspin Technologies, the world’s leading developer and manufacturer of magnetoresistive random access memory persistent memory solutions, announced preliminary unaudited financial results for the first quarter ended March 31, 2026.

“Our first quarter results were driven by strength in Industrial Automation, Transportation, and Data Center applications,” said CEO Sanjeev Aggarwal. “Additionally, we have started to see a recovery in customer demand especially in Japan as inventory levels have been worked down. We are also very excited to announce a new $40 million contract with a US prime contractor to provide state-of-the-art MRAM process technology capabilities and engineering services for United States Defense Industrial Base customers.” Businesswire reports.

Top 5 Movers in Early Pre-Market

(All pricing and percent gains are based on Early Pre-Market from 4:00 AM to 7:00 AM Eastern Time)
Stock Analysis reports.


1) HCAI: Huachen AI Parking Management Technology Holding Co., Ltd

Total gain: +104.94%

2) AKAN: Akanda Corp.
Total gain: +30.94%

3) FATN: FatPipe, Inc.
Total gain: +30.24%

4) VISN: Vistance Networks, Inc.
Total gain: +27.79%

5) VIAV: Viavi Solutions Inc.
Total gain: +27.61%

Yesterday’s Biggest Movers

The closing price of the top three market percent gainers trading near or above $3 on April 29.
Stock Analysis reports.

*All pricing and percent gains are based on regular market trading hours from 9:30am to 4:00pm Eastern Time

1) RDAC: Rising Dragon Acquisition Corp.
Total gain: +318.57%
The stock appeared to be moving on no notable news.

2) XTLB: XTL Biopharmaceuticals Ltd.
Total gain: +54.78%
The company announced today that it has entered into a definitive share purchase agreement (the “Purchase Agreement”) to acquire 100% of the issued and outstanding share capital of Psyga Bio Ltd., (the “Psyga”), an advanced biotechnology company focused on the research, development and commercialization of proprietary products derived from psychedelic and functional mushrooms, including clinically researched therapeutic candidates, microdosing solutions and wellness-focused formulations. Globe Newswire reports.

3) AKAN: Akanda Corp.
Total gain: +48.60%
The stock appeared to be moving on no notable news.

Today’s Notable Earnings

*Estimate and Actual numbers represent Earnings Per Share in US Dollars


MITSY: Mitsui & Co
Q4 2026
Before Market Open
Estimate: N/A
Actual: 8.365

KYOCY: Kyocera
Q4 2026
Before Market Open
Estimate: 0.110
Actual: 0.200

ING: ING Groep
Q1 2026
Before Market Open
Estimate: 0.600
Actual: 0.632

Today’s Economic Dates

Time (ET) | Report | Period

8:30 AM - Initial jobless claims - April 25
8:30 AM - GDP - Q1
8:30 AM - Personal income - March

Parting Thoughts

“You will never learn anything new until you admit you’re wrong.”

– Ray Dalio

Sourced in: Principles — GoodReads.

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