US Stocks Near Record Highs on Strong Jobs Data

US stocks climbed on Friday after the release of stronger-than-expected US jobs data, which showed employers adding 115,000 more jobs than they cut in April, nearly double economists’ expectations. The S&P 500 rose 0.7% and moved closer to a fresh record high, while the Nasdaq Composite gained 1.2% and headed toward its own all-time peak.

The upbeat data helped keep the S&P 500 on track for a sixth straight week of gains, which would mark its longest winning streak since 2024. According to Interactive Brokers analyst Steve Sosnick, the data showed that “the vast majority of people who want a job are able to find some.”

Middle East tensions remain in focus, with the United Arab Emirates responding to another Iranian missile barrage and the United States exchanging fire with Iranian forces in the Strait of Hormuz, despite a fragile month-old ceasefire. Oil prices remained elevated amid fears over disruptions in the key shipping route, with Brent crude rising 0.6% to $100.65 per barrel on Friday.

The immediate outlook includes continued monitoring of the situation in the Middle East, with US Secretary of State Marco Rubio stating that Washington is expecting Iran’s response to US proposals aimed at ending the conflict. The strong corporate earnings also supported the rally on Wall Street, with energy drink maker Monster Beverage and Akamai Technologies posting better-than-expected quarterly results.