What’s News in Markets: AI Price Tag, New Oil Rules, Short-Squeeze Payback

WSJ Your Money Briefing

The Wall Street Journal

Business News, News

4.1 • 1.7K Ratings

🗓️ 2 May 2026

⏱️ 5 minutes

🔗️ Recording | iTunes | RSS

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Summary

Big tech is finally cashing in on AI, but who is making the biggest profits? And what does a weakened OPEC mean for oil markets? Plus, how is Avis getting an investor to hand back gains after a short squeeze? Host Imani Moise discusses the biggest stock moves of the week and the news that drove them. Sign up for the WSJ's free Markets A.M. newsletter Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:26.3	August 2025 proprietary survey among real estate professionals. Hey listeners, it's Saturday, May 2nd.
0:36.1	I'm Imani-Mauise for the Wall Street Journal.
0:38.5	And this is what's news in markets, our look at the biggest stock moves of the week and the news that drove them.
0:44.5	Let's dive in.
0:45.9	Markets extended a multi-week run of record highs.
0:49.5	Powered by a wave of earnings showing corporate America is still minting money, even in the face of war,
0:55.0	higher oil prices, and more cautious consumer spending. No biggie. Both the S&P 500 and NASDAQ
1:01.8	finished April with their biggest monthly gains since 2020 and kicked off May by hitting fresh
1:07.8	records. All three major indexes finished the week higher. The NASDAQ was up 1.1%,
1:13.7	the S&P rose 0.9%, and the Dow inched up 0.6%. Big Tech is making big money on AI, but they aren't the
1:26.4	booming industry's biggest winners. Microsoft,
1:29.5	Amazon, Google, and Meta all posted strong earnings this week, with AI driving growth in their
1:35.0	cloud businesses. Amazon's cloud unit grew at its fastest pace in years, helping push overall
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