Weekly Market Commentary: Stocks Rise as Earnings Come in Ahead of Expectations

Sunflower Bank Weekly Market Commentary: May 4, 2026

Each week, our Wealth Management team analyzes the U.S. stock market and bond market activity and news of the previous week, summarizing their findings into a weekly market update report. The key points of this week's commentary, "Stocks Rise as Earnings Come in Ahead of Expectations," include:

• Equities finished higher in a busy week highlighted by earnings from mega cap technology companies and a Federal Open Market Committee rate decision. The S&P 500 rose +0.9%, the Nasdaq 100 increased +1.5%, and the Russell 2000 gained +0.9%.
• Last week included earnings from Amazon, Alphabet, Microsoft, Apple, and Meta, which represent a combined market capitalization of more than $15 trillion. 63% of S&P 500 constituents have now reported 1Q26 results, and aggregate results have come in significantly better than expected. According to Factset, analysts now expect consolidated quarterly EPS for the Index to grow +27% year-over-year, the highest rate of growth since 4Q21, and well above initial expectations for +13% growth.
• The FOMC held its April meeting, and the Committee voted to leave the Federal Funds Rate unchanged at a range of 3.50% - 3.75%. Notably, four members of the Committee dissented against the decision – and in opposite directions. Futures markets currently expect a rate hike to be the FOMC’s mostly likely next move.

  
  

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