* Futures: Dow up 0.23%, S&P 500 up 0.11%, Nasdaq down

0.15%

* Apple ( AAPL ) climbs on strong forecast

* Exxon Mobil ( XOM ), Chevron ( CVX ) up following Q1 profit beat

* Software stocks gain after Atlassian ( TEAM ) raises forecast

* Roblox ( RBLX ) plunges after slashing bookings forecast

(Updates prices)

By Niket Nishant and Utkarsh Hathi

May 1 (Reuters) - S&P 500 and Dow futures edged higher

on Friday, buoyed by strong earnings after the indexes logged

their biggest monthly gains in years, offsetting fears of a

historic supply shock in the oil markets.

Apple ( AAPL ) rose 3% in premarket trading after robust

demand for its flagship iPhone 17 and MacBook Neo led the

company to forecast solid sales growth for the fiscal third

quarter.

The latest data showed U.S. economic growth regained

momentum in the first quarter and inflation accelerated in

March, strengthening the case for higher interest rates, but it

did little to stall the equity rally.

However, the buying frenzy may be due for a reality check.

Consumer spending, the economy's main growth engine, decelerated

in the quarter and the personal savings rate also declined,

suggesting consumers tapped into savings to support outlays.

Besides, the figures take into account just one month of the

disruption stemming from the Middle East war. With the conflict

showing few signs of abating, oil prices may become a bigger

burden on households, especially as the support from tax refunds

in the first quarter tapers off.

Brent crude prices have hit over $110 a barrel as

the crucial shipping route through the Strait of Hormuz remains

disrupted.

"GDP expanded at a respectable-looking pace in Q1, but a

glance under the hood suggests the economy's underlying momentum

already was anemic before the energy shock was felt in earnest,"

said Samuel Tombs, chief U.S. economist at Pantheon

Macroeconomics.

This comes at an inconvenient time for bulls as markets

enter May, historically the start of a weaker six-month stretch

for stocks.

Since 1945 through April 2026, the S&P 500 has gained an

average of about 2% from May to October, according to data from

Fidelity. That compares with a roughly 7% average gain November

through April.

At 6:35 a.m. ET, Dow E-minis rose 114 points,

or 0.23%, S&P 500 E-minis were up 7.75 points, or 0.11%,

and Nasdaq 100 E-minis fell 41.75 points, or 0.15%.

The S&P 500 ended April with its biggest monthly

percentage gain since November 2020, while the Nasdaq Composite

advanced the most since April 2020. The Dow's monthly

advance was its biggest since November 2024.

Among energy companies, Exxon Mobil ( XOM ) and Chevron ( CVX )

reported first-quarter profit above estimates and rose

1.8% each before the bell.

Shares of software companies climbed after Atlassian ( TEAM )

lifted its annual forecast.

The enterprise software maker surged 24.4%, while peers

Salesforce ( CRM ) and ServiceNow ( NOW ) added 2%. Datadog ( DDOG )

and Workday gained 1.4% and 2.9%,

respectively.

Other major movers included Roblox ( RBLX ), which fell

24.4%following a cut in its annual bookings forecast.

Reddit ( RDDT ) gained 15.3% after an upbeat quarterly

revenue forecast.