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S&P 500 futures were relatively unchanged on Friday, while Dow Jones Industrial Average futures rose, boosted by Apple shares, as a new month of trading gets underway.
Futured tied to the broad market index advanced 0.1%, while those linked to the Dow gained 0.3%. Nasdaq 100 futures were down 0.1%, however.
Shares of Apple climbed more than 3% in premarket trading after the consumer tech giant posted a fiscal second-quarter earnings and revenue beat. Not only that, the company's revenue outlook for the current quarter was better than expected, overshadowing the fact that iPhone revenue fell short of estimates for the second time in three quarters.
The moves come after a record-setting trading session, with the S&P 500 closing above the 7,200 threshold for the first time ever. That helped both the S&P 500 and Nasdaq — which also notched a new record closing high — secure their strongest monthly performances since 2020. The Dow, meanwhile, saw its strongest monthly performance since November 2024.
A strong first-quarter earnings season, as well as hopes for easing tensions in the Middle East, have ultimately boosted stocks higher on the year. Even though the major averages took a dip on the commencement of the U.S. war with Iran, all three indexes are now trading well above where they began 2026.
Venu Krishna, head of U.S. equity strategy at Barclays, pointed to a strong economic growth outlook and an intact tech story as catalysts to keep this strong market rally going from here.
"The story is good, so we remain optimistic. The last thing I would say is that the pace of this recovery has been so strong in such a short period of time, it does leave some potential for a little bit of a breather in the short term," he said on CNBC's "Closing Bell: Overtime" on Thursday afternoon. "But … I think the trajectory, the direction, is pretty strong."
Check out the companies making the biggest moves premarket:
Exxon Mobil and Chevron managed to beat Wall Street's first-quarter expectations even as the U.S. war with Iran delayed shipments and resulted in accounting charges that weighed on their results.
Accounting for the full impact of their financial hedges and other items, Exxon's net income declined 45%, while Chevron's tumbled 36%.
Exxon's stock was recently up slightly in premarket trading, while Chevron's shares gained 1%.
Still, after adjustments, Exxon earned $1.16 per share on revenue of $85.14 billion.
Chevron earned $1.41 per share on an adjusted basis, beating LSEG estimates of 95 cents. Chevron's revenue of $48.61 billion missed analyst estimates of $52.1 billion.
— Spencer Kimball and Christina Cheddar Berk
Markets in Australia and Japan closed higher on May Day, with the S&P/ASX 200 snapping an eight-session losing streak.
Australia's market was up 0.74% and closed at 8,729.8, while Japan's Nikkei 225 climbed 0.38% to 59,513.12.
The Topix reversed earlier losses to gain 0.04%, ending at 3,728.73.
The Japanese yen strengthened marginally against the dollar on Friday, after reports that Tokyo had intervened to prop up the yen on Thursday, prompting a sharp rally.
The currency was last trading at 156.54 against the greenback, after breaching the 160 level earlier in the week and hitting a two-year high of 160.72.
The FTSE 100 traded almost 0.4% lower on Friday morning after closing the previous session 1.6% higher.
The U.K. market, which is the only European bourse open for trade Friday due to the May Day holiday on the continent, finished the month of April 2% higher.
Drinks manufacturer Diageo gained 1.6% in morning trade after U.S. President Donald Trump agreed to lift all tariffs on imports of Scotch whisky, following King Charles III's state visit this week. Diageo's whisky brands include Johnnie Walker and Talisker.
Meanwhile, shares in NatWest were 3.7% lower after the U.K. bank reported its first quarter earnings. Pre-tax profits topped £2 billion ($2.7 billion), up 12.2% on the £1.8 billion generated in the same period last year, and ahead of the £1.9 billion expected by analysts.
Both the pan-European Stoxx 600 and Germany's DAX notched their biggest monthly gains since January 2025 during April. But it was the Italian stock market that outperformed the rest of the continent, with Milan's FTSE MIB surging almost 9% for its best month since January 2023.
Across the Atlantic, meanwhile, April saw the S&P 500 and Nasdaq both deliver their best monthly returns since 2020.
Stock markets in Europe are closed for the May Day holiday on Friday. London is the exception, with the U.K.'s FTSE 100 expected to open slightly below the flatline later, according to IG data.
The European Central Bank and the Bank of England on Thursday both held interest rates as expected — but the specter of impending hikes loomed over policymakers' statements. Traders are now pricing a 75% chance that the ECB hikes in June, and a more than 50% chance that the Bank of England does the same, according to LSEG data.
Bank of England Governor Andrew Bailey told CNBC's Ritika Gupta that policymakers must now contend with the "most difficult combination" of economic effects.
Australian and Japanese markets were mostly higher on Friday, even as most Asian markets were closed for the May Day holiday.
Japan's Nikkei 225 was marginally up to start the day, but the Topix was 0.62% down.
Australia's S&P/ASX 200 was up 0.98%, on pace to snap an eight-session losing streak.
Oil prices climbed Friday, a day after a volatile session that saw the Brent crude contract for June hit a four-year high before retreating. The June contract, which expired on Thursday, climbed to $126.41 a barrel before settling at $114.01.
On Friday, the July Brent futures contract rose 1.11% to $111.63 as of 10:15 p.m. ET, while U.S. West Texas Intermediate futures for June gained 0.45% to $105.54.
These are the stocks moving the most in extended-hours trading:
Read the full list of stocks moving here.
Information technology stocks fell 0.63% on Thursday, making the sector the only one of the 11 GICS sectors to end Thursday's trading session lower.
But the sector rose 17.44% in April, making it the second-highest performing sector on the month. Communication services stocks took the lead, gaining 18.43% in April.
Energy stocks were the laggard for the month, shedding 3.51% in April. Health care was the only other sector to end the month lower than where it began, notching a 0.58% loss.
Stock futures opened little changed on Thursday evening.
Shortly after 6 p.m. ET, futures tied to all three major averages were trading just around the flatline.