Record Highs in U.S. Stock Market Amid Job Growth Surprises
NEW YORK (AP) — On Friday, the U.S. stock market surged to new heights, buoyed by optimistic signals regarding the nation’s job market, which exceeded economists’ forecasts.
The S&P 500 ascended by 0.8%, achieving an all-time zenith, following a report indicating that U.S. employers added 115,000 jobs more than they removed last month.
This improvement occurred despite escalating fuel costs and pervasive uncertainty stemming from the ongoing conflict with Iran.
The Dow Jones Industrial Average marginally increased by 12 points, less than 0.1%, while the Nasdaq composite soared 1.7% to a record of its own.
Although hiring decelerated from March’s figures, the uptick was nearly double what economists had anticipated. This performance enabled the S&P 500 to conclude a remarkable sixth consecutive week of gains, marking its longest winning streak since 2024.
The U.S. stock market has seen a meteoric rise since late March, partly fueled by hopes that the war will not result in a cataclysmic downturn for the global economy and that the Strait of Hormuz will reopen, allowing oil tankers to resume crude deliveries from the Persian Gulf.
Nonetheless, it remains to be seen whether these anticipations are grounded in reality or merely fanciful thinking.
U.S. military forces targeted and incapacitated two Iranian oil tankers on Friday, following exchanges of gunfire with Iranian forces in the Strait of Hormuz during the night.
This incident marks the latest escalation, which raises questions about the fragile ceasefire—now a month old—that the United States maintains is still in effect.
The price of Brent crude oil surged 1.2%, settling at $101.29, following the recent hostilities. While this figure remains below the peaks exceeding $119 reached in the early stages of the conflict, it significantly towers over the approximately $70 price tag from late February prior to the outbreak of hostilities.
A key element bolstering the U.S. stock market amidst the uncertainties of war is the robust profits reported by corporations for the first quarter of 2026.
Monster Beverage soared by 13.6% after the energy drink manufacturer reported better-than-expected earnings and revenues for the latest quarter.
The company enjoyed notable growth in international markets, with total net sales from overseas constituting approximately 45% of its overall revenues—the highest proportion in its history.
Akamai Technologies experienced an even more pronounced increase, skyrocketing 26.6% after its results marginally exceeded expectations.
The company announced a $1.8 billion deal to provide cloud infrastructure services to an undisclosed client over a seven-year period. Akamai is capitalizing on the surge in investments in artificial intelligence technology.
Conversely, CoreWeave reported revenues for the latest quarter that more than doubled from the previous year; however, its net loss was worse than analysts had anticipated.
In addition, the company’s revenue forecast for the current quarter was below analyst projections, leading to an 11.4% decline in its stock. CoreWeave specializes in providing AI computing capabilities via the cloud.
In summary, the S&P 500 climbed 61.82 points, closing at 7,398.93. The Dow Jones Industrial Average gained 12.19 points, ending at 49,609.16, while the Nasdaq composite advanced 440.88 points to 26,247.08.
Internationally, stock indices broadly declined across much of Europe and Asia, with Germany’s DAX losing 1.3% and Hong Kong’s Hang Seng dropping 0.9%, representing some of the more significant downturns.
South Korea’s Kospi stood as an exception, inching upwards by 0.1% to set a new all-time high.
In the bond market, Treasury yields softened, remaining low after a preliminary report suggested consumer sentiment among U.S. citizens is languishing near its lowest point since 2022.
Respondents to the University of Michigan survey expressed concerns about elevated gasoline prices and existing tariffs, although their inflation expectations for the upcoming year eased slightly.
The yield on the 10-year Treasury note decreased to 4.36% from 4.41% late Thursday and from 4.45% earlier in the week.
Lower yields tend to reduce rates for mortgages and other forms of credit available to U.S. households and businesses, potentially providing a boost to the economy.
Moreover, declining yields typically create upward pressure on the prices of stocks and alternative investments.
However, the 10-year Treasury yield remains considerably elevated compared to its 3.97% level observed just prior to the outbreak of hostilities.
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