Wall Street extended its rally this week, erasing post-tariff losses as earnings season opened strong and major tech companies beat forecasts, according to Benzinga. Investor sentiment improved due to positive trade developments and a strong start to earnings season. The S&P 500 notched its longest winning streak since May 2024. Industrials and tech led gains, while energy stocks slumped alongside falling oil prices. First-quarter GDP contracted 0.3%, missing estimates. Stronger-than-expected April job gains highlighted labor market resilience and improved the overall economic outlook. Core PCE inflation slowed to 2.6%, while markets now await the Fed’s policy meeting and Chair Powell’s remarks.
