Asian Stocks Cautious Ahead of US Jobs Data as Oil Rises 
US Dollar Gains as Iran Tensions, Fed Rate Hike Bets Rise 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
BOJ Rate Hike Expectations Rise Ahead of September Meeting 
China Trade Surplus Beats Forecasts in July as Exports Stay Strong 
European Stocks Near Record Highs as Earnings Strength Offsets Geopolitical Concerns 
Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
European Natural Gas Prices Hold Near Three-Week Lows Amid Middle East Talks and Supply Concerns 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
US Job Growth Seen Picking Up in July 
Gold Prices Steady as Hormuz Tensions Fuel Fed Rate Concerns 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
The S&P 500 and Nasdaq closed at fresh record highs on Friday as investors poured into AI-related stocks and welcomed stronger-than-expected U.S. jobs data, reinforcing confidence in the resilience of the American economy. Nvidia, Micron Technology, and Sandisk led gains in the technology sector, helping push Wall Street higher despite ongoing geopolitical tensions in the Middle East and concerns over rising oil prices.
The S&P 500 advanced 0.84% to finish at 7,398.93, while the Nasdaq surged 1.71% to close at 26,247.08. The Dow Jones Industrial Average edged up 0.02% to 49,609.16. Technology stocks remained the primary driver of the rally, with the S&P 500 technology index climbing 2.7%.
AI-focused chipmaker Nvidia gained 1.8%, while Micron Technology and Sandisk jumped more than 15% each due to strong demand linked to the rapid expansion of AI data centers. The Philadelphia Semiconductor Index also soared, extending its second-quarter gains to 55%.
Investor sentiment was further supported by solid corporate earnings. According to LSEG I/B/E/S, first-quarter S&P 500 earnings are projected to rise nearly 29% year-over-year, fueled largely by major AI companies. About 83% of the 440 S&P 500 companies that have reported earnings so far have exceeded analyst expectations.
Economic data also played a key role in boosting markets. U.S. employment increased more than expected in April, while the unemployment rate held steady at 4.3%, signaling continued labor market strength. Traders now widely expect the Federal Reserve to keep interest rates unchanged in the 3.50% to 3.75% range through the end of 2026.
Despite the positive momentum, some companies faced sharp declines. Cloudflare plunged 24% after announcing workforce reductions and weaker revenue guidance. Expedia dropped 9% after warning that the Middle East conflict was hurting travel demand, while CoreWeave and Trade Desk also posted losses.
The S&P 500 and Nasdaq recorded their sixth consecutive weekly gains, highlighting continued investor optimism surrounding AI growth, corporate earnings, and economic stability in 2026.
