Dow futures surge 116 points: 5 things to know before market opens

• S&P 500 surged 10.4% in April (best since Nov 2020), Nasdaq jumped 15.3% (best since April 2020), and Dow rose 7.14%, closing above 7,200 for the first time
• Apple reported record $111.2B quarterly revenue (up 17% YoY) with iPhone sales up 22% to ~$57B and Services hitting an all-time high of ~$31B, despite flagging rising memory costs
• Roblox cut full-year bookings guidance to $7.33B-$7.6B from $8.28B-$8.55B due to lower engagement from age-gating measures and child safety legal settlements; oil remains elevated at $111.63/barrel (Brent July contract)

Market Summary: Dow Futures Rise After Record April Rally

Market Overview:

U.S. stock futures edged higher Friday, with Dow futures up 116 points (+0.2%), S&P 500 futures gaining 0.13%, while Nasdaq 100 futures slipped 0.13%. This follows April's exceptional performance: the S&P 500 surged 10.4% (best since November 2020), the Nasdaq jumped 15.3% (strongest since April 2020), and the Dow rose 7.14%.

Key Company Movements:

*Apple (AAPL):* Climbed 3% in premarket trading after reporting record quarterly revenue of $111.2 billion, up 17% year-over-year. iPhone revenue reached approximately $57 billion (+22%), while Services hit an all-time high near $31 billion. The company flagged rising memory costs as a concern.

*Roblox (RBLX):* Plunged 21% after-hours following a severe guidance cut. Full-year bookings outlook reduced to $7.33-$7.6 billion from $8.28-$8.55 billion due to lower user engagement from new age-gating measures and child safety legal settlements.

*Reddit:* Gained sharply on upbeat Q2 revenue guidance exceeding Wall Street estimates.

Market Headwinds:

Oil prices remain elevated, with Brent crude's June contract previously hitting a four-year high of $126.41/barrel before settling at $114.01. The July contract traded at $111.63. High energy prices complicate inflation control efforts and delay central bank rate cuts.

Outlook Concerns:

Historical seasonal patterns suggest caution, as the S&P 500 has averaged just 2% gains May-October versus 7% November-April since 1945. This "sell in May" pattern, combined with elevated valuations, may warrant more selective investment approaches ahead.