Today’s Market Recap: Tech Propels Stocks to Record Highs Amid AMD Gains and OpenAI’s GPT-5.5 Launch

Iranian Foreign Minister Abbas Araghchi is scheduled to visit China. A spokesperson for the Ministry of Foreign Affairs announced that, at the invitation of the Chinese government, Araghchi will arrive on May 6. Wang Yi, a member of the Political Bureau of the CPC Central Committee and Minister of Foreign Affairs, will hold talks with him during the visit.

The U.S. Secretary of Defense stated that the U.S. military’s "Project Liberty" is defensive in nature and a temporary mission that does not seek engagement. He asserted that Iran does not control the Strait of Hormuz, noting that two U.S. commercial vessels have already safely transited under military escort. He urged Iran to remain cautious and ensure it does not cross established boundaries, adding that Donald Trump does not require congressional approval to continue military operations against Iran. The U.S. military expressed readiness to resume large-scale combat operations at any time. Trump declined to specify which actions would constitute a ceasefire violation, claiming Iran is "playing games" but ultimately "wants to make a deal."

U.S. service sector PMI data for April fell short of expectations, which, coupled with persistent price pressures, has heightened concerns over stagflation. The April ISM Non-Manufacturing PMI dropped from 54.0 to 53.6, missing the market forecast of 53.7. Similarly, the final S&P Global April Services PMI was revised downward from an initial 51.3 to 51.0, with the employment sub-index contracting for the second consecutive month. Input cost indices remain at cyclical highs. This combination of weak growth and high inflation has intensified stagflation fears and left Federal Reserve monetary policy facing a dilemma.

U.S. job openings in March edged down slightly to 6.87 million, while hiring activity showed signs of a rebound. According to March JOLTS data, job openings decreased from a revised 6.92 million in February to 6.87 million, nearly matching the median expectation of 6.85 million. The hiring rate rebounded significantly to 3.5% from February’s five-year low of 3.1%. The broader labor market continues to exhibit a pattern of "low hiring and low layoffs." Market attention now shifts to Friday’s non-farm payrolls report.

AMD’s Q1 revenue surged by 38%, exceeding expectations, driven by a 57% increase in its data center business. The company's Q2 guidance also surpassed forecasts, with a revenue midpoint of $112 billion — representing a year-over-year increase of approximately 50.6% — well above the $105.2 billion analysts anticipated. During the earnings call, AMD’s stock price gains expanded to over 10% in after-hours trading.

Anthropic released financial AI agents, impacting data service providers like FactSet. Anthropic launched 10 financial AI agents capable of performing tasks such as drafting roadshow materials and reviewing financial statements. These agents integrate with office software like Excel to automate financial modeling and research reporting, aiming to boost efficiency in the financial sector. The announcement triggered market concerns regarding traditional financial data providers; FactSet shares fell over 8% intraday before paring more than half of those losses to close down approximately 2.2%.

OpenAI introduced the GPT-5.5 Instant model, claiming it is more reliable, more intelligent, and available to all users. GPT-5.5 Instant will be rolled out to all ChatGPT users within two days. Compared to GPT-5.3 Instant, the new model shows a significant reduction in inaccurate statements within professional fields like medicine and law, as well as in complex dialogues. It also demonstrates superior performance in daily tasks and image analysis. Additionally, OpenAI has implemented comprehensive improvements to memory and personalization features, which are available to subscribers.

The chart below lists the ten most actively traded stocks in the market last Friday. Bolstered by massive trading volume and exceptional liquidity, these assets have become key benchmarks for tracking global market dynamics.