Dollar Slips as Strong U.S. Jobs Data Reduces Fed Rate Cut Expectations 
Asian Currencies Slip as US Dollar Gains on Rising Iran Tensions and Awaited Jobs Data 
Asian Stocks Slide as Iran Tensions Escalate Despite Strong Weekly Gains 
European Stocks Edge Higher as Iran-U.S. Peace Talks Boost Market Sentiment 
Oil Prices Surge as U.S.-Iran Conflict Threatens Strait of Hormuz Supply Route 
China Export Growth Surges in April as Global Buyers Rush to Secure Supplies 
Wall Street Futures Edge Higher as Iran Tensions and AI Optimism Shape Markets 
Dollar Weakens as Iran Peace Hopes Boost Risk Appetite and Yen Gains Strength 
Gold Prices Rise as Weaker Dollar and U.S.-Iran Peace Hopes Boost Demand 
Japan Tech Stocks Surge as AI Optimism Lifts SoftBank, Chipmakers 
US Trade Court Blocks Trump’s 10% Global Tariffs 
Gold Prices Hold Firm as Iran Tensions and Dollar Swings Drive Safe-Haven Demand 
China-Made Fireworks Power U.S. Independence Day Celebrations Amid Trade Truce 
Wall Street Futures Slip After Record Rally Fueled by Iran Peace Hopes and AMD Surge 
US-Iran Ceasefire Under Pressure as Fresh Strait of Hormuz Clashes Shake Oil Markets 
Oil Prices Rise Amid Strait of Hormuz Tensions and U.S.-Iran Ceasefire Uncertainty 
U.S.-China Beef Trade Deal Hopes Rise Ahead of Trump-Xi Summit 
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.
