Apple Rides iPhone Strength to Record Quarter, Reddit Sales Surge 69%

The Rundown · May 1, 2026 · 10m

Market update for Friday May 1, 2026

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In today’s episode:

Stocks wrapped up their best month since 2020 (S&P 500 up 10%, Nasdaq up 15% in April)

PCE inflation hits 3.5%, the highest since 2023, driven by rising oil prices from the Iran war

Apple reports a monster quarter thanks to iPhone 17 lineup

Anthropic in talks to raise money at a $900 billion valuation

Reddit stock pops after revenue jumps 69% and profits soar nearly 8x…