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Dow Surges 700 Points Amid Strong Corporate Earnings

5/2/2026

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Story summary
  • The Dow Jones Industrial Average rose about 700 points to 49,584.97 on April 30, 2026.
  • Caterpillar posted a 22% sales rise to $17.4 billion, lifting shares 10.3% as Amgen rose 3.2%.
  • Alphabet and Amazon reported cloud revenues of $20 billion (up 63%) and $37.6 billion (up 28%), respectively.
  • U.S. GDP showed 2.0% annualized growth in Q1, core PCE inflation at 3.2% YoY, while Brent settled near $110 per barrel after a $114.70 peak.