S&P 500 Bulls Breaking 7,175 as GDP, Core PCE and AI Momentum Support A May Rally
12-brick Renko chart of the SPX 500 Index
Source: TradingView
The Verdict
Current Trend Direction: Bullish
Bias: Positive
Support Levels: 6,310, 6,920
Resistance Levels: 7,450, 8,150
Medium Term Path: To me this move is looking like a springboard for the S&P 500 The 7,200 level is acting as the immediate breakout zone.
Read MoreHow major US stock indexes fared Thursday 4/30/2026
The U.S stock market motored to more records as profits keep piling up for big businesses.
The S&P 500 rallied 1% Thursday and topped its prior all-time high to finish its best month in more than five years. The Dow Jones Industrial Average jumped 1.6%, and the Nasdaq composite climbed 0.9% to its own record.
» Read more about: How major US stock indexes fared Thursday 4/30/2026 »
Read MoreUS Economy Grows 2% Despite Iran War Oil Shock, But Risks Loom
While rising energy prices did dampen growth somewhat, private investment, consumer spending, and government expenditures remained relatively strong during the period.“On net it’s a solid number. Consumer spending has held up,” said Jason Draho, head of asset allocation for the Americas at UBS. However, he cautioned that this strength “could be fully offset” if higher energy prices persist for the next six months.
» Read more about: US Economy Grows 2% Despite Iran War Oil Shock, But Risks Loom »
Read MorePlain Talk: 'We haven't gotten better deals' out of Trump's trade war
MINOT — When asked on this episode of Plain Talk about the justification that President Donald Trump’s erratic regime of tariffs is necessary to flex America’s economic might and negotiate better deals, John Bitzan, director of the Challey Institute at North Dakota State University, argued that the strategy has not worked.
“We haven’t gotten better deals out of this,”
HP Stock: Is Wall Street Bullish or Bearish?
With a market cap of $19.1 billion, HP Inc. (HPQ) is a global technology company, providing personal computing, printing, 3D printing, and hybrid work solutions to consumers, businesses, and public sector clients worldwide. It operates through three segments: Personal Systems; Printing; and Corporate Investments, offering a wide range of hardware, software, and services.
Shares of the Palo Alto,
» Read more about: HP Stock: Is Wall Street Bullish or Bearish? »
Read MoreThe Burst
How a 2nd Trump Presidency Will Affect Markets?
A second Trump presidency may have broad-reaching implications for the stock market, influenced by a mix of tax and economic strategies as well as geopolitical implications.
In his first-term, Trump oversaw significant corporate tax cuts, which boosted corporate earnings and stock prices. A second term is likely to continue or expand these tax policies,
» Read more about: How a 2nd Trump Presidency Will Affect Markets? »
Read MoreThe Ivy
2 Billionaires Buy This Former Out-Of-Favor Bank, Why?
As recently as 2020, few analysts could have predicted that Stanley Druckenmiller, a billionaire who used to manage Quantum Fund with George Soros, would invest in Citigroup, a multinational banking company with a reputation for mismanaging funds and contributing to the Great Recession.
Despite those facts, Druckenmiller’s firm, Duquesne Family Office, bought more than 327,000 shares in Citigroup last quarter.
» Read more about: 2 Billionaires Buy This Former Out-Of-Favor Bank, Why? »
Read MoreThe Spotlight
MAJOR ALERT: Within 7 Days, Market Plunges?
There’s blood in the water and a shark has sniffed it out and is swimming furiously to capture some some pounds of flesh.
What are we talking about?
A major bet was placed by one of Wall Street’s iconic traders betting that by Friday, February 17, the market would fall,
» Read more about: MAJOR ALERT: Within 7 Days, Market Plunges? »