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Daily Wrap-Up: Melting Up | May 5, 2026

By May 5th, 2026Daily Market Wrap-Up2 min read

Without many war-related headwinds and with many positive earnings reports coming out, the S&P 500 index futures went on to make new all-time highs during Tuesday’s session.

Overnight, the bulls started to build their bids and commenced a slow, fairly steady rally from a low of 7223.75 that would last for the rest of the session. The regular session commenced just below Monday’s high, and bulls soon went to test resistance there. After some chop in that area, resistance started to give way while bulls continued to make higher lows. 

More slow progress was made in the final two hours until the final 15 minutes, where some profit-taking took off some of the day’s gains. The session concluded above the day’s midpoint at a new all-time closing high of 7287.25, gaining a solid 57 handles. After hours, the all-time high made Friday was pushed slightly to 7304.25.

Tomorrow, market participants can look forward to ADP Employment numbers at 8:15 AM ET, along with another load of earnings reports in the morning and evening.

Among the top components of the index, Apple Inc (NASDAQ: AAPL) flipped its role once again and emerged as the biggest gainer. The tech giant was able to advance by $7.35 or 2.66 percent to close at $284.18 for the day.

That performance was over thrice the cash index’s advance of 0.80 percent.

Conversely, the biggest loser ended up being NVIDIA Corp (NASDAQ: NVDA). For the day, the chip designer declined by $2.05 or 1.03 percent to close at $196.50.