SPX Extends Rally to 6 Weeks — Big Earnings Ahead + Free Trade Idea
Hey Traders,
For the week ending May 1, 2026, U.S. stocks extended their rally to six straight weeks, driven by strong earnings and easing geopolitical concerns. The S&P 500 (SPX) gained roughly 0.7%–0.9%, closing at a new record near 7,230, capping off an impressive 10%+ surge in April.
Earnings remained a major tailwind, with approximately 84% of companies beating expectations. Strength was led by tech and AI, pushing the Nasdaq up about 1.1% past 25,000. Even with elevated oil prices and a hawkish Fed backdrop, markets stayed resilient thanks to solid underlying economic data.
⚠️ What I’m Watching This Week
This week brings a mix of key economic data + major earnings, both of which could influence short-term direction:
Economic Data
- April Jobs Report (Friday, May 8)
- Unemployment Rate (Friday)
Labor market strength remains a key factor in shaping expectations around Fed policy.
Earnings to Watch
- Advanced Micro Devices (AMD)
- Palantir Technologies (PLTR)
- Arm Holdings (ARM)
- Uber Technologies (UBER)
With tech continuing to lead, these reports could play a big role in whether momentum continues.
💡 FREE Trade Idea of the Week
If you are BULLISH on GOOGL after the recent blockbuster earnings report, you may consider opening the PCS below (NOT FINANCIAL ADVICE)
Ticker: Alphabet Inc. (GOOGL)
Strategy: Put Credit Spread
Current Price: $385.69
Strike Prices: $350 / $340 (Strong support at $350)
Expiration: 6/5/26
Max Profit (Premium Collected): $96
Collateral Required: $1000
This setup allows us to collect premium while staying positioned at a key support level, giving us a cushion if the market pulls back or consolidates.
🚀 Want Weekly Trade Ideas & Market Guidance?
If you want a clear system to navigate markets like this, that’s exactly why I built The Launchpad.
Inside The Launchpad, you get:
- High-probability trade ideas
- Real time market outlook
- Options income strategies (like spreads, CSPs, and more)
- Real-time alerts and discussion
The goal is simple: help you stay consistent and grow your account — regardless of market conditions.
If you’re ready to trade with structure instead of emotion, The Launchpad is built for you.
Talk soon,
Gautam
⚠️ Disclaimer: Options involve risk and are not suitable for all investors. Returns are not guaranteed. This message is for educational purposes only and not financial advice.
