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Rose with other US benchmarks as a US-Iran peace framework to reopen the Strait of Hormuz pushed crude oil prices lower.

Japan

Technology Helps Push US Equity Indexes Higher in Midday Trading

US equity indexes rose in midday trading on Friday as technology topped sector charts and Washington expected Iran to respond to its peace proposal later in the day.The Nasdaq jumped 1.4% to 26,162.7 after touching a record 26,172.71 intraday. The S&P 500 climbed 0.8% to 7,397.1 after hitting an all-time high of 7,397.56 earlier in the session. The Dow Jones Industrial Average edged up less than 0.1% to 49,638.2.After technology, which advanced 2.2%, consumer discretionary was the second-biggest gainer. Healthcare led the decliners.The US expects a response from Iran on a proposal to end the war on Friday, Secretary of State Marco Rubio said, adding he hopes "it's a serious offer," CNN reported.Meanwhile, US forces disabled two Iranian-flagged unladen oil tankers on Friday that were attempting to dock at an Iranian port on the Gulf of Oman in violation of the US blockade, US Central Command said on X.West Texas Intermediate crude oil futures rose 1.1% to $95.86, and Brent crude futures increased 1.4% to $101.49.

Dow JonesNasdaq CompositeS&P 500
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Friday Amid Employment Data

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.6% and the actively traded Invesco QQQ Trust (QQQ) was 0.8% higher in Friday's premarket activity amid April's employment data release.US stock futures were also higher, with S&P 500 Index futures up 0.5%, Dow Jones Industrial Average futures advancing 0.3%, and Nasdaq futures gaining 0.7% before the start of regular trading.The April employment report showed nonfarm payrolls rose by 115,000, above the 65,000 jobs increase expected in a survey compiled by Bloomberg, while March payrolls were revised up to a 185,000 increase and February payrolls were revised down to a 156,000 decrease.The University of Michigan's preliminary consumer sentiment reading for May and the wholesale inventory data for March will be released at 10 am ET.In premarket activity, bitcoin was up by 0.1%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.1% higher, Ether ETF (EETH) retreated by 0.3%, and Bitcoin & Ether Market Cap Weight ETF (BETH) fell 3%.Power Play:TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) gained 1%, and the iShares US Technology ETF (IYW) was 0.7% higher, while the iShares Expanded Tech Sector ETF (IGM) was up 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) advanced by 2.7%, while the iShares Semiconductor ETF (SOXX) rose by 2%.United Microelectronics (UMC) shares were down more than 3% in premarket activity after the company reported April sales of 22.66 billion New Taiwan dollars ($721.8 million), up 11% from a year earlier.Winners and Losers:ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was up 0.2% and the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.7%. The iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) gained 0.5%. The VanEck Retail ETF (RTH) and the State Street SPDR S&P Retail ETF (XRT) were inactive.Toyota Motor (TM) shares were down more than 1% pre-bell after the company reported lower fiscal 2026 earnings.Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.3%, the Vanguard Health Care Index Fund (VHT) was up 0.3%, while the iShares US Healthcare ETF (IYH) rose 2%. The iShares Biotechnology ETF (IBB) gained 0.5%.Tempus AI (TEM) stock was up more than 1% premarket after the company said it priced its upsized private placement of $400 million of 0% convertible senior notes due May 15, 2032.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) advanced 0.3%. Direxion Daily Financial Bull 3X Shares (FAS) was up 0.8%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.7% lower.Goldman Sachs BDC (GSBD) shares were down more than 1% pre-bell after the company reported lower Q1 adjusted net investment income and total investment income.IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.6%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was 1.1% higher.Ferrovial (FER) stock was up more than 1% before the opening bell after the company reported higher Q1 adjusted earnings before interest, taxes, depreciation and amortization and revenue.EnergyThe iShares US Energy ETF (IYE) was inactive, while the State Street Energy Select Sector SPDR ETF (XLE) retreated by 0.02%.Scorpio Tankers (STNG) stock was down more than 1% before the opening bell after the company said it plans to offer $150 million of 1.75% convertible senior notes due 2031 via a private placement.CommoditiesFront-month US West Texas Intermediate crude oil gained by 0.1% to reach $94.92 per barrel on the New York Mercantile Exchange. Natural gas was up 0.2% at $2.77 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 1.3%, while the United States Natural Gas Fund (UNG) was 0.1% lower.Gold futures for May gained by 0.4% to reach $4,728.60 an ounce on the Comex. Silver futures advanced by 1.1% to $81.09 an ounce. SPDR Gold Shares (GLD) was 0.1% higher, and the iShares Silver Trust (SLV) rose by 1.8%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$EEM$EETH$EXI$FAS$FAZ$FER$GLD$GSBD$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$PMR$QQQ$RTH$SLV$SOXX$SPY$STNG$TEM$TM$UMC$UNG$USO$VDC$VHT$VIS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Asia Markets

US Equity Futures Gain Pre-Bell as Trump Says Ceasefire Still in Effect Despite Skirmish in Strait of Hormuz

US equity futures were edging higher pre-bell Friday as traders continued to monitor developments in the Middle East conflict, with the US and Iran exchanging fire, while President Donald Trump said the ceasefire was still in effect.Dow Jones Industrial Average futures were 0.4% higher, S&P 500 futures were up 0.6%, and Nasdaq futures were 0.9% higher.The US and Iran traded fire in the Strait of Hormuz, with each side claiming that the other started the attack. In a post on Truth Social, Trump said there was no damage done to three Destroyer vessels, but "great damage" to Iranian boats. "We'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!" he added.Trump told reporters that the ceasefire was still in effect. The US is still waiting for Iran's response to its proposal to end the war and postpone nuclear talks to a later date.Traders absorbed the latest round of earnings, with Enbridge (ENB) reporting lower Q1 adjusted earnings amid higher revenue and Brookfield Asset Management (BAM) posting increases in Q1 distributable earnings and revenue.Oil prices were largely unchanged, with front-month global benchmark North Sea Brent crude flat at $100.10 per barrel and US West Texas Intermediate crude also flat at $94.79 per barrel.The April national unemployment rate was reported at 4.3%, unchanged from the prior month and meeting estimates compiled by Bloomberg.The University of Michigan consumer sentiment index for May, slated for 10 am ET, is expected at 49.5, down from 49.8 previously.There will be a panel discussion featuring Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, San Francisco Fed President Mary Daly, and Chicago Fed President Austan Goolsbee at 7:30 pm ET.In other world markets, Japan's Nikkei closed 0.2% lower, Hong Kong's Hang Seng ended 0.9% lower, and China's Shanghai Composite finished flat. Meanwhile, the UK's FTSE 100 was down 0.1%, and Germany's DAX index was 0.9% lower in Europe's early afternoon session.In equities, Cloudflare (NET) shares fell 16% after the company said it expected to reduce its workforce by about 1,100 people as part of a planned restructuring, as well as incurring charges of $140 million to $150 million in connection with the plan. CoreWeave (CRWV) stock was down 6.1% after the company reported a wider-than-expected Q1 net loss. HubSpot (HUBS) shares dropped 24% after the company issued lower-than-expected Q2 revenue guidance.On the winning side, Sony (SONY) stock was up 2.9% after the company's subsidiary Sony Semiconductor Solutions and Taiwan Semiconductor Manufacturing (TSM) said they signed a non-binding memorandum of understanding to create a strategic partnership focused on developing and manufacturing next-generation image sensors. Eni (E) shares rose 2.6% after the company said the first tranche of its new share buyback program will be launched in the coming days. Earlier, Eni also said its Geliga-1 offshore Indonesia discovery delivered strong drill stem test results, confirming robust reservoir productivity.

Dow JonesNasdaq CompositeS&P 500$BAM$CRWV$E$ENB$HUBS$NET$SONY$TSM
Japan

US Equity Futures Gain Pre-Bell as Trump Says Ceasefire Still in Effect Despite Skirmish in Strait of Hormuz

US equity futures were edging higher pre-bell Friday as traders continued to monitor developments in the Middle East conflict, with the US and Iran exchanging fire but President Donald Trump saying that the ceasefire was still in effect.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.5%, and Nasdaq futures were 0.7% higher.The US and Iran traded fire in the Strait of Hormuz, with each side claiming that the other started the attack. In a post on Truth Social, Trump said there was no damage done to three Destroyer vessels, but "great damage" to Iranian boats. "We'll knock them out a lot harder, and a lot more violently, in the future, if they don't get their Deal signed, FAST!" he added.Trump told reporters that the ceasefire was still in effect. The US is still waiting for Iran's response on its proposal to end the war and postpone nuclear talks to a later date.Traders absorbed the latest round of earnings, with Enbridge (ENB) reporting lower Q1 adjusted earnings amid higher revenue and Brookfield Asset Management (BAM) posting increases in Q1 distributable earnings and revenue.Oil prices were higher, with front-month global benchmark North Sea Brent crude up 0.6% at $100.70 per barrel and US West Texas Intermediate crude 0.2% higher at $95.04 per barrel.The unemployment rate for April, scheduled for release at 8:30 am ET, is expected to remain unchanged at 4.3%, according to estimates compiled by Bloomberg. The University of Michigan consumer sentiment index for May, slated for 10 am ET, is expected at 49.5, down from 49.8 previously.There will be panel discussion featuring Fed Vice Chair for Supervision Michelle Bowman, Fed Governor Christopher Waller, San Francisco Fed President Mary Daly and Chicago Fed President Austan Goolsbee at 7:30 pm ET.

Dow JonesNasdaq CompositeS&P 500$BAM$ENB
US Markets

Stocks Rise Pre-Bell as Investors Assess Renewed Middle East Tensions, Await Jobs Report

The benchmark US stock measures were pointing higher before the open Friday as investors weigh renewed tensions in the Strait of Hormuz and await a key employment report for April.The S&P 500 rose 0.4%, the Dow Jones Industrial Average increased 0.2% and the Nasdaq added 0.6% in premarket activity. The indexes finished the previous trading session down, snapping a two-day winning streak.The US and Iran exchanged fire in the Strait of Hormuz on Thursday, with both sides accusing each other of initiating the attack, according to several media outlets.The US Central Command said its forces intercepted "unprovoked" Iranian attacks and carried out "self-defense" strikes, as US navy destroyers transited the crucial waterway to the Gulf of Oman. Iran reportedly accused the US of striking multiple targets in and around the strait.In a social media post on Thursday, President Donald Trump threatened to strike Tehran "a lot harder, and a lot more violently" in the future if it doesn't agree to a peace deal. Later, Trump told ABC News that the strikes against Iran were "just a love tap" and that the ceasefire between the two countries remains in effect."Markets continue to be cautiously optimistic toward the prospect of a US-Iran deal to end the war despite the appearances of the US administration pumping the deal vastly more than the other side," Scotiabank said in a note on Thursday.West Texas Intermediate crude oil nudged 0.4% higher to $95.18 a barrel before the opening bell, while Brent inclined 0.7% to $100.83.Treasury yields were trending lower in premarket action, with the two-year rate retreating 2.2 basis points to nearly 3.9% and the 10-year rate off 2.4 basis points to 4.37%.The nonfarm payrolls report for last month is scheduled to be released at 8:30 am ET. Government data is expected to show that the US economy added 65,000 jobs in April, compared with a 178,000 gain reported for the month prior, according to a Bloomberg poll.US job cuts increased in April to the third-highest total for the month since 2009 as technology companies continued to announce layoffs amid a shift toward artificial intelligence, Challenger Gray & Christmas said Thursday. On Wednesday, ADP (ADP) said employment in the US private sector grew at its fastest pace in more than a year.Friday's economic calendar also has the preliminary University of Michigan consumer sentiment report for May at 10 am, while the weekly Baker Hughes oil-and-gas rig count is out at 1 pm.On Thursday, a US trade court ruled that Trump's 10% global tariffs are not justified under a 1970s trade law, Reuters reported. In February, the Supreme Court invalidated Trump's reciprocal tariffs imposed in 2025 under the International Emergency Economic Powers Act. Following that decision, Trump announced a 10% global tariff, which he later said would rise to 15%.Shares of Airbnb (ABNB) moved 0.7% higher pre-bell after the vacation rental company reported higher-than-expected first-quarter revenue. Monster Beverage (MNST) climbed 6.5% as the energy drink firm's first-quarter results topped market estimates. CoreWeave (CRWV) fell 6.5% following its latest quarterly results.Iren (IREN) jumped 8.1% as the company said it secured a five-year artificial intelligence infrastructure cloud services contract with Nvidia (NVDA) worth $3.4 billion.Gold increased 0.4% to $4,730 per troy ounce, while bitcoin slipped 0.2% to $79,952.

Dow JonesNasdaq CompositeS&P 500$ABNB$IREN$MNST
Asia Markets

Tech Stocks Lift Wall Street Pre-Bell; Asia, Europe Off

Wall Street futures pointed moderately higher pre-bell Friday as tech issues gained, crude oil prices held steady, and traders shrugged off clashes between US and Iranian forces in the Strait of Hormuz.In the futures, the S&P 500 rose 0.5%, the Nasdaq edged 0.7% higher and the Dow Jones was up 0.3%.West Texas Intermediate crude oil traded down 0.2% at $94.61 in premarket activity.Investors also await the national employment situation report for April from Washington at 8:30 am ET, sure to be parsed for clues to the strength of the US job market.Asian exchanges traded mostly lower overnight, while European bourses tracked moderately south midday on the continent.Akamai Technologies (AKAM) stock was up 25% pre-bell after the company overnight reported higher Q1 revenue.On the economic calendar, in addition to the employment report, is the University of Michigan consumer sentiment report for May due 10 am, followed by the weekly Baker Hughes domestic oil-and-gas rig count at 1 pm.In premarket activity, Bitcoin traded at $79,879, and 10-year US Treasuries offered 4.37%. Spot gold commanded $4,722 an ounce.

Dow JonesNasdaq CompositeS&P 500
US Markets

S&P 500, Nasdaq Snap 2-Day Record Run as Oil Prices Rise in Volatile Session

The S&P 500 and the Nasdaq Composite fell from record closing highs on Thursday as oil prices rose in what turned out to be a choppy trading session for crude.The S&P 500 closed 0.4% lower at 7,337.1, while the Nasdaq slipped 0.1% to 25,806.2. The Dow Jones Industrial Average dropped 0.6% to 49,597. All three indexes snapped a two-day advance that propelled the S&P 500 and the Nasdaq to all-time highs.Barring communication services and technology, all sectors were in the red, led by materials and energy.West Texas Intermediate crude was last up 0.7% at $95.73 a barrel, swinging between gains and losses during Thursday late-afternoon trade. Brent was up 0.1% at $101.36. Both benchmarks fell sharply Wednesday amid prospects of a diplomatic breakthrough between the US and Iran.Iran is still reviewing "messages" from the US via Pakistani mediation, CNN reported, citing Iranian media. Tehran has set out new rules for ships looking to transit ross the crucial Strait of Hormuz, the news outlet reported."Markets continue to be cautiously optimistic toward the prospect of a US-Iran deal to end the war despite the appearances of the US administration pumping the deal vastly more than the other side," Scotiabank said in a note.US Treasury yields were higher, with the 10-year rate up 4.5 basis points at 4.40% and the two-year rate rising 5.4 basis points to 3.92%.In company news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand. The luxury fashion company's shares slumped 12%, the second-worst performer on the S&P 500.Planet Fitness (PLNT) shares slid 31% after the fitness center operator tempered its full-year expectations amid fewer-than-projected member additions in the first quarter.Shake Shack (SHAK) shares plummeted 28% after the fast food chain operator's first-quarter results fell short of Wall Street's estimates amid weather-related headwinds.Datadog (DDOG) shares surged 31%, the top gainer on the S&P 500. The software maker raised its full-year outlook after posting first-quarter results that topped the Street expectations.In economic news, US job cuts increased in April to the third-highest total for the month since 2009 as technology companies continued to announce layoffs amid a shift toward artificial intelligence, Challenger Gray & Christmas said Thursday.The report comes ahead of the official April nonfarm payrolls data to be released on Friday.Official data are expected to show that the US economy added 65,000 nonfarm jobs in April, compared with a 178,000 increase reported for the previous month, according to a Bloomberg-compiled consensus. On Wednesday, ADP (ADP) said that employment in the US private sector grew at its fastest pace in more than a year.Gold was up 0.3% at $4,709.90 per troy ounce in Thursday late-afternoon trade, while silver jumped 2.7% to $79.40 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$DDOG$PLNT$SHAK$TPR
Asia Markets

US Equity Indexes Fall as Iran Seeks Hormuz Control, Washington Plans to Restart Operation Freedom

US equity indexes declined on Thursday as Iran reportedly set up an agency to control shipping in the Strait of Hormuz, and Washington, still awaiting Iran's response to its peace proposal, considered options to restart defence operations to provide safe passage for ships stranded at the critical waterway.The Nasdaq slipped 0.1% to 25,806.20, retreating from an all-time peak of 26,036.38 intraday amid concern that a peace agreement between the US and Iran could be at risk. The S&P 500 fell 0.4% to 7,337.11 after hitting an all-time high of 7,385.02 earlier in the session. The Dow Jones Industrial Average declined 0.6% to 49,596.97.All sectors except technology and communication services fell. Energy, materials, and industrials led the decliners.Iran has created a government agency to vet and tax vessels seeking passage through Hormuz, an Associated Press report cited a shipping data company Thursday. Tehran has laid out a new set of rules for vessels seeking to transit the chokepoint through which about 20% of global crude oil flows, according to a document seen by CNN.Entitled "Vessel Information Declaration," the document is an application form issued by Iran's newly created Persian Gulf Strait Authority, and it must be completed by all transiting vessels to ensure safe passage, CNN reported. The document was shared with CNN by the Lloyds List and another shipping industry source who wished to remain anonymous, according to the news report.Meanwhile, the Trump administration is looking to restart an operation to guide commercial ships through Hormuz with naval and air support as early as this week, after Saudi Arabia and Kuwait lifted restrictions on US access to their bases and airspaces, The Wall Street Journal reported Thursday, citing Pentagon officials.The US is still awaiting Iran's response to its peace proposal. The two countries are said to be working with mediators to formulate a one-page framework to restart talks aimed at ending the war and reopening Hormuz.West Texas Intermediate crude oil futures rose 1.1% to $96.11, turning the corner from a decline of 3% earlier in the session. Brent crude futures added 0.1% to $101.36, off intraday declines of more than 3%.Most US Treasury yields rose, with the 10-year up 3.4 basis points to 4.39% and the two-year climbed 4.1 basis points to 3.91%.In economic news, employers in the US announced 83,387 job cuts in April, up 38% from March, Challenger, Gray & Christmas said Thursday. The two previous highs were 105,441 job cuts recorded in April 2025 and 671,129 in April 2020, the global outplacement firm added.US initial jobless claims rose to 200,000 in the week ended May 2 from an upwardly revised 190,000 in the previous week, compared with expectations for 205,000 in a survey of analysts compiled by Bloomberg. The four-week moving average fell by 4,500 to 203,250.In company news, Datadog (DDOG) raised its full-year outlook after the software maker posted Q1 results above analysts' estimates. Shares surged 31%, the top gainer on the S&P 500 and the Nasdaq.In precious metals, gold futures edged up 0.6% to $4,724.00, and silver futures jumped 3.9% to $80.30.

Dow JonesNasdaq CompositeS&P 500$DDOG
Japan

US Equity Markets End Lower as Conflicting US Signals on Iran War Weigh on Sentiment

US equity indexes ended lower on Thursday amid conflicting signals from the US on the war with Iran, triggering renewed concerns that the conflict will drag on.* Iran has created a government agency to vet and tax vessels seeking passage through the Strait of Hormuz, the Associated Press reported, citing Lloyd's List Intelligence. Tehran is reviewing the latest US proposals for ending the war.* US initial jobless claims last week rose to 200,000 from an upwardly revised 190,000 in the previous week, compared with expectations for 205,000 in a survey of analysts compiled by Bloomberg.* June West Texas Intermediate crude oil rose $1.28 to settle at $96.36 per barrel, while July Brent crude, the global benchmark, was last seen up $0.61 at $101.88.* Zoetis (ZTS) shares fell 22%, the steepest decline on the S&P 500, after the company reported Q1 adjusted earnings and revenue below market expectations and scaled back full-year guidance.* Datadog (DDOG) shares rose 31%, the biggest gain on the S&P, after the company raised its full-year outlook and posted Q1 results that topped Wall Street expectations.

Dow JonesNasdaq CompositeS&P 500$DOG$ZTS
Japan

US Equity Indexes Fall as Iran Plans to Control Hormuz Transit, Washington Mulls Restarting Operation Freedom

US equity indexes were lower ahead of Thursday's close as Iran reportedly set up an agency to control shipping in the Strait of Hormuz, and Washington considered restarting defence operations to provide safe passage for ships stranded at the critical waterway.The Nasdaq slid 0.3% to 25,755.7, after touching a record 26,036.38 intraday amid concern that a peace agreement between the US and Iran could be at risk. The S&P 500 retreated 0.4% to 7,336.5 after hitting an all-time high of 7,385.02 earlier in the session. The Dow Jones Industrial Average fell 0.6% to 49,592.8 in the final leg of trading.Iran has created a government agency to vet and tax vessels seeking passage through Hormuz, an Associated Press report cited a shipping data company Thursday. Tehran has laid out a new set of rules for vessels seeking to transit the chokepoint through which about 20% of global crude oil flows, according to a document seen by CNN.Entitled "Vessel Information Declaration," the document is an application form issued by Iran's newly created Persian Gulf Strait Authority, and it must be completed by all transiting vessels to ensure safe passage, CNN reported. The document was shared with CNN by the Lloyds List and another shipping industry source who wished to remain anonymous, according to the news report.Meanwhile, the Trump administration is looking to restart an operation to guide commercial ships through Hormuz with naval and air support as early as this week, after Saudi Arabia and Kuwait lifted restrictions on US access to their bases and airspaces, The Wall Street Journal reported Thursday, citing Pentagon officials.The US is still awaiting Iran's response to its peace proposal. The two countries are said to be working with mediators to formulate a one-page framework to restart talks aimed at ending the war and reopening Hormuz.West Texas Intermediate crude oil futures added 0.7% to $95.75, while Brent crude futures declined 0.2% to $101.03. Both WTI and Brent futures are off session lows of more than 3% each.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

US Equity Indexes Give Up Gains as Iran Reportedly Unveils Plan to Charge Fee for Safe Hormuz Transit

US equity indexes fell midday Thursday, with the S&P 500 and the Nasdaq Composite giving up intraday gains after Iran reportedly created an agency to control shipping in the Strait of Hormuz before sending its response to Washington's proposal to restart peace talks.The Nasdaq slid 0.3% to 25,760.7 after touching a record 26,036.38 intraday. The S&P 500 retreated 0.5% to 7,326.7 after hitting an all-time high of 7,385.02 earlier in the session. The Dow Jones Industrial Average fell 0.7% to 49,545.5, extending declines.All sectors except technology fell, with energy, industrials, and utilities leading the decliners.Iran has created a government agency to vet and tax vessels seeking passage through the crucial Strait of Hormuz, an Associated Press report cited a shipping data company Thursday. Tehran has laid out a new set of rules for vessels seeking to transit through the Hormuz, a chokepoint to about 20% of global crude oil flows, according to a document seen by CNN.Entitled "Vessel Information Declaration," the document is an application form issued by Iran's newly created Persian Gulf Strait Authority, and it must be completed by all transiting vessels to ensure safe passage, CNN reported. The document was shared with CNN by the Lloyds List and another shipping industry source who wished to remain anonymous, according to the news report.The Trump administration is looking to restart an operation to guide commercial ships through Hormuz with naval and air support as early as this week, after Saudi Arabia and Kuwait lifted restrictions on US access to their bases and airspaces, The Wall Street Journal reported Thursday, citing Pentagon officials.Meanwhile, the Islamic Republic is reviewing messages from Pakistan, which is mediating peace negotiations with Washington, but Tehran "has not yet reached a conclusion, and no response has been given to the U.S. side," the Associated Press cited Iranian Foreign Ministry spokesperson Esmail Baghaei on state TV.West Texas Intermediate crude oil futures rose 1.8% to $96.81, while Brent crude futures slipped 0.4% to $100.83, off session lows when declines hit more than 3% each.US Treasury yields turned the corner, leaning higher after midday, compared with a move down across most of the maturities earlier in the session. The 10-year rose four basis points to 4.39%, and the two-year rate climbed 4.7 basis points to 3.92%.In precious metals, gold futures edged up 0.6% to $4,727.2, off session highs. Silver futures were up 4.1% to $80.49 but off highs of more than 5% earlier in the session.In economic news, employers in the US announced 83,387 job cuts in April, up 38% from March, Challenger, Gray & Christmas said Thursday. The two previous highs were 105,441 job cuts recorded in April 2025 and 671,129 in April 2020, the global outplacement firm added."Technology companies continue to announce large-scale cuts and are leading all industries in layoff announcements. They are also often citing AI spend and innovation. Regardless of whether individual jobs are being replaced by AI, the money for those roles is," said Andy Challenger, workplace expert and chief revenue officer for Challenger, Gray & Christmas.US initial jobless claims rose to 200,000 in the week ended May 2 from an upwardly revised 190,000 in the previous week, compared with expectations for 205,000 in a survey of analysts compiled by Bloomberg. The four-week moving average fell by 4,500 to 203,250.In company news, Datadog (DDOG) raised its full-year outlook after the software maker posted Q1 results above analysts' estimates. Shares surged 28%, the top gainer on the S&P 500 and the Nasdaq.ARM (ARM) Chief Executive Rene Haas said, in an earnings call with investors, that while demand for ARM's new AGI CPU doubled to $2 billion within six weeks of its launch, the company has only secured enough manufacturing capacity to fulfill half of those orders. Shares sank 10%, among the worst performers on the Nasdaq.

Dow JonesNasdaq CompositeS&P 500$ARM$DDOG
US Markets

Equities Fall Intraday, Oil Rises as Traders Monitor Middle East Developments

US benchmark equity indexes were lower intraday, while oil prices were moving higher, as investors monitored developments regarding a potential peace deal between Washington and Iran.The Dow Jones Industrial Average was down 0.7% at 49,571 after midday Thursday, while the S&P 500 lost 0.4% to 7,338.3. The Nasdaq Composite shed 0.1% to 25,811.1. The S&P 500 and the Nasdaq hit new peaks in the previous session.Barring technology, all sectors were in the red intraday Thursday, led by energy.West Texas Intermediate crude was up 1.4% at $96.45 a barrel, while Brent rose 0.7% to $102.02. Both benchmarks fell sharply Wednesday amid prospects of a diplomatic breakthrough between the US and Iran."The sell-off partly unwinds the conflict-driven rally in energy prices, but losses were pared as the market remains cautious," ING Bank said in a report Thursday. "Crude inventories in the US continue to tighten, while buyers have become more reliant on US barrels to offset disrupted Middle Eastern supply."The US and Iran are edging toward a temporary pact to halt the war, Reuters reported, citing sources and officials. Iran is reviewing a proposal to stop the fighting, but leave the most contentious issues unresolved, according to the report.Iran is still reviewing "messages" from the US via Pakistani mediation and has yet to finalize its response to a Washington proposal to end the conflict, CNN reported, citing local Iranian media. Tehran has issued a set of new rules for ships looking to cross the crucial Strait of Hormuz, the news outlet reported, citing a document it saw.US Treasury yields were higher intraday, with the 10-year rate up 4.3 basis points at 4.39% and the two-year rate rising 5.2 basis points to 3.92%.In company news, Tapestry (TPR) raised its fiscal 2026 outlook after delivering a third-quarter beat, but provided a subdued fourth-quarter sales guidance for its Kate Spade brand. The luxury fashion company's shares were down 10%, the second-worst performer on the S&P 500.Planet Fitness (PLNT) shares slid 32% after the fitness center operator tempered its full-year expectations amid fewer-than-projected member additions in the first quarter.Shake Shack (SHAK) shares plummeted 29% after the fast food chain operator's first-quarter results fell short of Wall Street's estimates amid weather-related headwinds.Datadog (DDOG) shares surged 26%, the top gainer on the S&P 500. The software maker raised its full-year outlook after posting first-quarter results that topped the Street expectations.Gilead Sciences (GILD), McKesson (MCK), Cloudflare (NET), Airbnb (ABNB), Monster Beverage (MNST), and CoreWeave (CRWV) are expected to report after the closing bell Thursday.Gold was up 0.1% at $4,699.80 per troy ounce, while silver jumped 2.7% to $79.37 per ounce.

Dow JonesNasdaq CompositeS&P 500$ABNB$CRWV$DDOG$GILD$MCK$MNST$NET$PLNT$SHAK$TPR
Asia Markets

Exchange-Traded Funds Fall as US Equities Drop Midday on Labor Data, Iran Tumult

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV fell. Actively traded Invesco QQQ Trust (QQQ) eased 0.1%.US equity indexes fell Thursday as investors weighed labor data and Iran's response to a Washington proposal to restart peace talks.EnergyIShares US Energy ETF (IYE) fell 2% and the State Street Energy Select Sector SPDR (XLE) dropped 1.9%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) fell 0.1%; iShares US Technology ETF (IYW) climbed 0.1%, and iShares Expanded Tech Sector ETF (IGM) fell 0.3%.The State Street SPDR S&P Semiconductor (XSD) shed 1.6%, and iShares Semiconductor (SOXX) lost 2.5%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) dropped 1.3%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), gained 1.1%.CommoditiesCrude oil rose 0.7%, and the United States Oil Fund (USO) gained 0.1%. Natural gas and the United States Natural Gas Fund (UNG) each increased 2.4%.Gold on Comex rose 0.6%, and the State Street SPDR Gold Shares (GLD) advanced 0.4%. Silver jumped 4%, and iShares Silver Trust (SLV) gained 3%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) decreased 0.5%. The Vanguard Consumer Staples ETF (VDC) shed 0.4%, and iShares Dow Jones US Consumer Goods (IYK) declined 0.6%.The State Street Consumer Discretionary Select Sector SPDR (XLY) was little changed. VanEck Retail ETF (RTH) fell 0.7%, and the State Street SPDR S&P Retail (XRT) declined 1.4%.Health CareThe State Street Health Care Select Sector SPDR (XLV) fell 0.8%, iShares US Healthcare (IYH) dropped 1%, and Vanguard Health Care ETF (VHT) declined 1.1%. IShares Biotechnology ETF (IBB) tumbled 2.8%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) lost 1.1%. Vanguard Industrials Index Fund (VIS) dropped 1.2% and iShares US Industrials (IYJ) shed 0.7%.CryptocurrencyIn midday activity, bitcoin (BTC-USD) declined 2.2%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) fell 2.1%, ProShares Ether ETF (EETH) dipped 2.6%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.4% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Japan

US Equity Indexes Mixed Amid Planned Layoffs Surging to Third-Highest Since 2009, Iran Peace Deal in Works

US equity indexes traded mixed midday Thursday as investors weighed a surge in planned April layoffs to the third-highest since 2009, ahead of Iran's response to a Washington proposal to restart peace talks.The Nasdaq traded 0.6% higher at 25,981.1 after touching a record 26,036.38 intraday. The S&P 500 was up 0.1% to 7,374.7 after hitting an all-time high of 7,385.02 earlier in the session. The Dow Jones Industrial Average, however, fell 0.2% to 49,830.5, after briefly trading above the 50,000 mark. Its all-time high is 50,512.79.The US and Iran are edging toward a temporary pact to halt the war, sources and officials told Reuters on Thursday, with Tehran reviewing a proposal to stop the fighting but leave the most contentious issues unresolved.The two countries are working with mediators to formulate a one-page framework to restart talks aimed at opening the Strait of Hormuz, with negotiations possibly starting in Pakistan next week, The Wall Street Journal reported.West Texas Intermediate crude oil futures dropped 3.2% to $92.06, and Brent crude futures slumped 3% to $98.20, extending declines on expectations of a reopening of Hormuz, the chokepoint for about a fifth of global crude oil flows.In economic news, employers in the US announced 83,387 job cuts in April, up 38% from March, Challenger, Gray & Christmas said Thursday. The two previous highs were 105,441 job cuts recorded in April 2025 and 671,129 in April 2020, the global outplacement firm added.

Dow JonesNasdaq CompositeS&P 500
Asia Markets

Peace Deal Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell

US equity futures were slightly higher pre-bell Thursday as hopes for a finalized peace deal between the US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it was nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 4.3% at $96.96 per barrel and US West Texas Intermediate crude 4.9% lower at $90.45 per barrel.The weekly jobless claims bulletin, released at 8:30 am ET, showed 200,000 new unemployment claims for the week ended May 2, compared with the upwardly revised figure of 190,000 in the prior week, and it came in below the 205,000 expected, according to estimates compiled by Bloomberg. Q1 nonfarm productivity increased at a 0.8% annual rate, topping forecasts for 0.6%, while unit labor costs increased 2.3%, compared with the 2.5% expected.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak today.In other world markets, Japan's Nikkei closed 5.6% higher, Hong Kong's Hang Seng ended 1.6% higher, and China's Shanghai Composite finished 0.5% higher. Meanwhile, the UK's FTSE 100 was down 0.6%, and Germany's DAX index was 0.1% lower in Europe's early afternoon session.In equities, Tesla (TSLA) stock was up 1.9% after the company's China-made electric vehicle sales rose for the sixth consecutive month on a year-over-year basis, according to a Reuters report. DoorDash (DASH) shares rose 8.7% after the company posted Q1 earnings that topped analysts' consensus. Fortinet (FTNT) stock was up 17% after the company posted a stronger-than-expected jump in Q1 earnings and sales, as well as boosted its full-year 2026 guidance.On the losing side, Shell stock was down 1.8% after the company reported its Q1 financial results. ARM (ARM) shares fell 7% despite the company posting higher fiscal Q4 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$ARM$DASH$FTNT$MCD$SHEL$TSLA
Commodities

Exchange-Traded Funds, Equity Futures Higher Pre-Bell Thursday Amid Corporate Earnings, Economic Data Deluge

The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was up 0.2% and the actively traded Invesco QQQ Trust (QQQ) was 0.1% higher in Thursday's premarket activity amid a deluge of corporate earnings results and economic data.US stock futures were also higher, with S&P 500 Index futures up 0.1%, Dow Jones Industrial Average futures advancing 0.1%, and Nasdaq futures gaining 0.1% before the start of regular trading.US layoff intentions rose in April, led by the technology sector due to increased use of AI, outplacement firm Challenger, Gray & Christmas reported Thursday.US initial jobless claims rose to a level of 200,000 in the week ended May 2 from an upwardly revised 190,000 level in the previous week, compared with expectations for a larger increase to 205,000 in survey of analysts compiled by Bloomberg.Nonfarm productivity rose by 0.8% in Q1 after a downwardly revised 1.6% increase in Q4, above expectations for a 0.6% gain in a survey compiled by Bloomberg as of 7:40 am ET, data released by the Bureau of Labor Statistics showed.Construction spending data for February and March will be released at 10 am ET, followed by weekly natural gas stocks at 10:30 am ET.The consumer credit data for March posts at 3 pm ET.Minneapolis Fed President Neel Kashkari and New York Fed President John Williams are slated to speak on Thursday.In premarket activity, bitcoin was down by 0.6%. Among cryptocurrency ETFs, the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 0.8% lower, Ether ETF (EETH) retreated 1%, and Bitcoin & Ether Market Cap Weight ETF (BETH) was flat.Power Play:IndustrialThe State Street Industrial Select Sector SPDR ETF (XLI) advanced 0.3%, while the Vanguard Industrials Index Fund (VIS) was flat and the iShares US Industrials ETF (IYJ) was inactive.MDA Space (MDA) stock was up more than 8% before the opening bell after the company reported higher Q1 adjusted earnings and revenue.Winners and Losers:Health CareThe State Street Health Care Select Sector SPDR ETF (XLV) advanced 0.1%, the Vanguard Health Care Index Fund (VHT) retreated 0.3%, while the iShares US Healthcare ETF (IYH) slipped 1.5%. The iShares Biotechnology ETF (IBB) was 0.8% higher.Viatris (VTRS) stock was down more than 3% premarket after gaining 2.8% at the prior close. The company reported higher Q1 financial results and reaffirmed its 2026 guidance.FinancialThe State Street Financial Select Sector SPDR ETF (XLF) retreated by 0.2%. Direxion Daily Financial Bull 3X Shares (FAS) was down 0.4%, while its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), was 0.4% higher.Carlyle (CG) shares were down more than 3% pre-bell after the company reported lower Q1 after-tax distributable earnings and revenue.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) retreated 0.01%, and the iShares US Technology ETF (IYW) was 0.03% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 0.7%. Among semiconductor ETFs, the State Street SPDR S&P Semiconductor ETF (XSD) gained 0.03%, while the iShares Semiconductor ETF (SOXX) rose by 0.4%.Alphabet (GOOG, GOOGL) shares were up more than 2% in premarket activity after closing the prior session with a 2.8% rise. Bloomberg reported that Google has proposed changes to how it shows news results in its search engine to avoid further EU competition fines.ConsumerThe State Street Consumer Staples Select Sector SPDR ETF (XLP) was down 0.3%, the Vanguard Consumer Staples Index Fund ETF Shares (VDC) was up 0.03%, while the iShares US Consumer Staples ETF (IYK) was inactive. The State Street Consumer Discretionary Select Sector SPDR ETF (XLY) lost 0.7%. The VanEck Retail ETF (RTH) was 0.6% higher, while the State Street SPDR S&P Retail ETF (XRT) retreated by 0.3%.Tesla (TSLA) shares were up more than 1% pre-bell after Reuters reported the EV maker's China-made electric vehicle sales rose for a sixth consecutive month on a year-over-year basis.EnergyThe iShares US Energy ETF (IYE) was down 0.9%, while the State Street Energy Select Sector SPDR ETF (XLE) was 1.1% lower.Shell (SHEL) stock was down more than 1% before the opening bell after the company reported lower-than-expected Q1 revenue.CommoditiesFront-month US West Texas Intermediate crude oil retreated by 3.3% to $91.97 per barrel on the New York Mercantile Exchange. Natural gas was down by 1% at $2.70 per 1 million British Thermal Units. The United States Oil Fund (USO) fell by 3.3%, while the United States Natural Gas Fund (UNG) was 0.3% lower.Gold futures for May gained by 1.2% to reach $4,748.30 an ounce on the Comex. Silver futures advanced by 5.4% to $81.44 an ounce. SPDR Gold Shares (GLD) was 1% higher, and the iShares Silver Trust (SLV) rose by 4.7%.

Dow JonesNasdaq CompositeS&P 500$BETH$BITO$CG$EEM$EETH$EXI$FAS$FAZ$GLD$GOOG$GOOGL$IBB$IGM$IGV$IPK$IVV$IWM$IYE$IYH$IYJ$IYK$IYW$MDA$PMR$QQQ$RTH$SHEL$SLV$SOXX$SPY$TSLA$UNG$USO$VDC$VHT$VIS$VRTS$XLE$XLF$XLI$XLK$XLP$XLV$XLY$XRT$XSD
Japan

Peace Agreement Hopes, Strong Earnings Nudge US Equity Futures Higher Pre-Bell

US equity futures were marginally higher pre-bell Thursday as hopes for a finalized peace deal between US and Iran continue, on top of a strong earnings season to date.Dow Jones Industrial Average futures were 0.2% higher, S&P 500 futures were up 0.1%, and Nasdaq futures were 0.1% higher.A final peace agreement would end the conflict and reopen the Strait of Hormuz, President Donald Trump said in a Truth Social post on Wednesday. The White House had said it is nearing an agreement with Iran that would end the war and establish a framework for more detailed nuclear negotiations, according to an Axios report.However, Trump said Iran's acceptance of the US proposal would be "perhaps, a big assumption," and warned that bombing would resume "at a much higher level and intensity than it was before" if an agreement was not reached. An Iranian foreign ministry spokesperson told CNBC on Wednesday that Iran was evaluating the proposal.Traders absorbed the most recent round of earnings, with Shell (SHEL) and McDonald's (MCD) posting higher Q1 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3% at $98.25 per barrel and US West Texas Intermediate crude 3.2% lower at $92.02 per barrel.The weekly jobless claims bulletin, scheduled for release at 8:30 am ET, is expected to show 205,000 new unemployment claims for the week ended May 2, compared with 189,000 in the prior week, according to estimates compiled by Bloomberg. The Q1 nonfarm productivity report is expected to show an annual gain of 0.6% after a 1.8% increase in the prior quarter. Unit labor costs are projected to rise 2.5%, compared with 4.4% previously.The February and March construction spending reports are due at 10 am ET.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack, and New York President John Williams are slated to speak on Thursday.

Dow JonesNasdaq CompositeS&P 500$MCD$SHEL
US Markets

Stocks Rise Pre-Bell as Traders Monitor Developments on Potential US-Iran Peace Deal

US equity markets were moving higher before the opening bell Thursday as investors monitor the latest developments over a potential peace deal between the US and Iran.The S&P 500 and the Dow Jones Industrial Average were up 0.1% each, while the Nasdaq was slightly in the green in premarket activity. The indexes finished Wednesday trading higher, with the S&P 500 and the Nasdaq recording their highest close ever and biggest one-day percentage gains since April 8.President Donald Trump told reporters on Wednesday that the US has had "very good talks" with Iran over the past 24 hours, but said there's no deadline on when he expects Tehran to respond to a US proposal to end the war, according to CNN.American and Iranian officials are closing in on a one-page memorandum of understanding to end the war and establish a framework for nuclear negotiations, Axios reported Wednesday, citing sources.In a separate social media post on Wednesday, Trump said US operations against Iran will be "at an end" if Tehran agrees to US demands. "If they don't agree, the bombing starts, and it will be, sadly, at a much higher level and intensity than it was before," Trump said.Iran is expected to give mediators its response to the proposal on Thursday, a regional source told CNN.West Texas Intermediate crude oil dropped 2.2% to $93.03 a barrel before the open, while Brent decreased 2.1% to $99.14."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices," Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu said in remarks emailed to. The physical market's recovery won't be as quick as the futures market predicts, Rodriguez-Masiu said, pointing to a six-to-eight-week lag between the strait reopening and oil flows normalizing.Treasury yields were down in premarket action, with the two-year rate retreating 2.3 basis points to 3.85% and the 10-year rate off 2 basis points to 4.33%.Shares of DoorDash (DASH) jumped 10% pre-bell after the food delivery company reported first-quarter earnings ahead of Wall Street's estimates. Warner Bros. Discovery (WBD) nudged 0.5% lower, while Snap (SNAP) fell 10% following their latest quarterly results.McDonald's (MCD), Sempra (SRE), Vistra (VST), Datadog (DDOG), Becton Dickinson (BDX), Tapestry (TPR) and US Foods (USFD) report their latest financial results before the bell, among others. Gilead Sciences (GILD), McKesson (MCK), Cloudflare (NET), Airbnb (ABNB), Monster Beverage (MNST) and CoreWeave (CRWV) are scheduled to announce their earnings after the markets close.Employers in the US announced 83,387 layoffs last month, up 38% from March, Challenger, Gray & Christmas said Thursday.Thursday's economic calendar also has the weekly jobless claims bulletin at 8:30 am.On Wednesday, ADP data showed that employment in the US private sector grew at its fastest pace in more than a year in April. The government's nonfarm payrolls report is out on Friday.Federal Reserve Bank of Minneapolis President Neel Kashkari is slated to speak at 1 pm, while Cleveland Fed President Beth Hammack speaks at 2:05 pm. New York Fed President John Williams' remarks are due at 3:30 pm.Gold increased 1% to $4,740 per troy ounce, while bitcoin declined 0.7% to $80,844.

Dow JonesNasdaq CompositeS&P 500$ABNB$BDX$CRWV$DASH$DDOG$GILD$MCD$MCK$MNST$NET$SNAP$SRE$TPR$USFD$VST$WBD
International

Middle East Outlook Undergirds Wall Street Pre-Bell; Asia Up, Europe Off

Wall Street futures edged up from all-time highs pre-bell Thursday as traders awaited clarity on Tehran-Washington negotiations to reopen the Strait of Hormuz and possibly end Persian Gulf hostilities.In the futures, the S&P 500 gained 0.1%, the Nasdaq edged 0.2% higher and the Dow Jones was steady.West Texas Intermediate crude oil traded down 2.4% at $92.85 a barrel, in morning activity.Amid sagging oil prices and AI-optimism, Asian exchanges tracked solidly higher overnight with fresh zeniths set on equity indices in Seoul, Taiwan and Tokyo, the latter rising 5.6% after a five-day trading hiatus.European bourses edged south midday on the continent.Fortinet (FTNT) stock was up 15% pre-bell after the company overnight reported higher Q1 non-GAAP earnings and revenue while raising its fiscal 2026 guidance.On the economic calendar is the weekly jobless claims report at 8:30 am ET along with the Q1 productivity and costs release.The construction spending bulletins for February and March log at 10 am, followed by the weekly EIA natural gas report at 10:30 am.Federal Reserve Minneapolis President Neel Kashkari, Cleveland President Beth Hammack and New York President John Williams are slated to speak Thursday.In premarket activity, Bitcoin traded at $80,703, and 10-year US Treasuries offered 4.33%. Spot gold commanded $4,731 an ounce.

Dow JonesNasdaq CompositeS&P 500
US Markets

Nasdaq, S&P 500 Hit New Highs as Iran Deal Prospects Brighten

The Nasdaq Composite and the S&P 500 climbed to new peaks and oil prices tumbled on Wednesday following reports about the US and Iran nearing a potential peace agreement.The Nasdaq Composite rose 2% to 25,838.9, while the S&P 500 advanced 1.5% to 7,365.1, recording their highest close ever and biggest one-day percentage gains since April 8. The Dow Jones Industrial Average gained 1.2% to settle at 49,910.6.Barring energy and utilities, all sectors ended in the green, led by industrials and technology, which gained 2.6% each.West Texas Intermediate crude was last down 6.9% at $95.20 per barrel, while Brent slumped 7.7% to $101.40.American and Iranian officials are close to a one-page memorandum of understanding to end the war and establish a framework for nuclear negotiations, Axios reported Wednesday, citing sources."A deal announcement would move futures further immediately, in fact even the potential of a deal is already triggering a decline in oil prices," Rystad Energy Chief Oil Analyst Paola Rodriguez-Masiu said in remarks emailed to.The physical market's recovery won't be as quick as the futures market predicts, Rodriguez-Masiu said, pointing to a six-to-eight-week lag between the strait reopening and oil flows normalizing.US President Donald Trump said the US has had "very good talks" with Iran over the past 24 hours, but there is no deadline on when he expects Tehran to respond to a US proposal to end the war, CNN reported.Trump warned that Iran's failure to agree to a deal would trigger a powerful military operation, according to his social media post from earlier in the day.Iran said it was reviewing the latest US proposal, according to news reports.US Treasury yields were lower, with the 10-year rate down 7.8 basis points at 4.35% and the two-year rate falling 7.4 basis points to 3.88%.In company news, Advanced Micro Devices (AMD) shares surged nearly 19%, among the best performers on the S&P 500.Late Tuesday, the chipmaker reported stronger-than-expected first-quarter results as demand for artificial intelligence infrastructure pushed data center revenue higher year over year.Advanced Micro Devices is expected to capture about half of the total addressable market for server central processing units, which the company expects will exceed $120 billion by 2030, BofA Securities said.Walt Disney's (DIS) fiscal second-quarter results came in ahead of market estimates Wednesday amid revenue gains across all business operations, while the media and entertainment giant reiterated its expectations for growth to accelerate in the second half. Disney's shares climbed 7.5%, the top performer on the Dow.Nvidia (NVDA) followed Disney on the Dow, up 5.8%. Specialty glass maker Corning (GLW) will boost its optical connectivity manufacturing capacity under a multiyear partnership with the chipmaking giant to support AI factory buildouts. Corning shares jumped 12%.Arista Networks (ANET) shares tumbled nearly 14%, among the worst S&P 500 performers. Late Tuesday, the cloud networking company issued a second-quarter revenue outlook slightly below market estimates.In economic news, employment in the US private sector grew at its fastest pace in more than a year in April, ADP (ADP) data showed."The uptick in private payroll gains from the ADP employment report not only suggests a stable labor market, but one that was potentially warming despite the outbreak of the war in Iran," Oxford Economics said in a note. "If this signal is echoed in the official measure on Friday, the unemployment rate is likely to fall given the low break-even rate, which we estimate is near zero."Data from the Bureau of Labor Statistics are expected to show Friday that the US economy added 65,000 nonfarm jobs last month, which would represent a fall from a 178,000 increase reported for March, according to a Bloomberg-compiled survey. The unemployment rate is seen unchanged at 4.3%.St. Louis Fed President Alberto Musalem said Wednesday that risks have shifted toward higher inflation."We have risks both on the employment side and on the inflation side," Musalem said at a Mississippi Bankers Association event, according to a Reuters report. "In my understanding risks have been shifting towards ... the inflation side."Gold rose 3.1% to $4,708.50 per troy ounce, while silver climbed 6.1% to $78.05 per ounce.

Dow JonesNasdaq CompositeS&P 500$ADP$AMD$ANET$DIS$GLW$NVDA

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