On May 1, US stocks opened higher as tech giants reported better-than-expected earnings, leading to gains across the four major indices, with TSMC's ADR rising nearly 4%. The S&P 500 climbed 1%, while the Nasdaq composite index rose by 2%. The Dow Jones Industrial Average gained 233 points or 0.57%.

Among individual stocks, Meta rose 4.78%, Microsoft by 9.52%, TSMC's ADR increased by 3.38%, and NVIDIA saw a rise of 4.2%. Reports indicate that investor concerns over Trump's tariffs and potential economic downturn threatening the AI market eased after Meta released its earnings.

Meta's CEO Mark Zuckerberg stated that the company's first-quarter revenue exceeded expectations and that they are well positioned to handle macroeconomic uncertainties. Microsoft also outperformed expectations with both revenue and profit for the first quarter, achieving strong results in its cloud business.

Additionally, the US Labor Department reported that initial jobless claims totaled 241,000 for the week ending April 26, rising by 18,000 and exceeding Dow's estimate of 225,000.