The stock market has been on a roller coaster ride recently, with investors closely watching the Federal Reserve’s moves and corporate earnings reports. One company that has been in the spotlight is Apple (AAPL), whose recent earnings report has significantly influenced market trends.

On Friday, the US stock market surged, buoyed by Apple’s upbeat earnings and a weaker-than-expected jobs report that revived hopes of a sooner-than-expected rate cut from the Federal Reserve. The Dow Jones Industrial Average jumped 1.2%, while the S&P 500 rose 1.3%. The tech-heavy Nasdaq Composite increased by 2%.

Apple’s quarterly profit beat expectations, and the company surprised investors with better revenue out of China than estimated, despite reports of flagging iPhone sales. The company’s plans for a $110 billion stock buyback, the biggest in US history, captured the market’s attention. Apple shares rose 6% in afternoon trading, buoying the Dow.

The weaker-than-expected jobs report painted a picture of a cooling US labor market, pushing up bets on a sooner-than-expected rate cut from the Fed. Traders now see a roughly two-thirds chance of a rate cut in September.

Meanwhile, other tech-centric companies like Palantir (PLTR), Uber (UBER), and Robinhood (HOOD) are set to report earnings next week. Their performance could further influence market trends.

In conclusion, Apple’s strong earnings report and the potential for a rate cut from the Fed have injected optimism into the market. However, investors should remain cautious and keep an eye on upcoming earnings reports and economic indicators.