Market Review: S&P 500 and Dow Achieve 9-Day Rally

Both indices reached their longest winning streak in more than two decades, fueled by strong tech earnings and job gains.
Market Review: S&P 500 and Dow Achieve 9-Day Rally
A trader works on the floor of the New York Stock Exchange on April 30, 2025. Michael M. Santiago/Getty Images
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U.S. stocks had another winning week through Friday, May 2, with the S&P 500 Index and Dow Jones Industrial Average extending their rallies to nine consecutive days of gains—their longest streaks in more than two decades. This week’s five-day rally was fueled by strong earnings from major tech companies, steady job gains, and the possibility of easing trade disputes, which all contributed to bullish sentiment for equities.

The S&P 500 ended May 2 at 5,686, up by 2.92 percent for the week. The Dow advanced by 3 percent to close at 41,317. The Nasdaq climbed 3.42 percent, ending the week at 17,977, while the Russell 2000 closed at 2,020, up by 3.22 percent.

Panos Mourdoukoutas
Panos Mourdoukoutas
Author
Panos Mourdoukoutas is a professor of economics at Long Island University in New York City. He also teaches security analysis at Columbia University. He’s been published in professional journals and magazines, including Forbes, Investopedia, Barron's, IBT, and Journal of Financial Research. He’s also the author of many books, including “Business Strategy in a Semiglobal Economy” and “China's Challenge.”