US stocks rise as the job market holds up better than expected despite the Iran war

U.S. stock markets rose Friday after a jobs report revealed stronger-than-expected hiring, with employers adding 115,000 more jobs than cuts in April, defying concerns over Iran war escalations. The S&P 500 climbed 0.5% toward an all-time high, while the Dow Jones Industrial Average gained 118 points (0.2%) and the Nasdaq rose 0.8%, extending its sixth consecutive winning week—the longest streak since 2024. The labor market’s resilience came despite geopolitical risks, including Iranian missile strikes in the Strait of Hormuz and rising fuel costs from oil price spikes. Brent crude had surged from $70 in late February to $119 amid tensions, though it settled at $99.97 Friday amid ceasefire uncertainties. Economists noted the jobs data as a positive sign, following a stronger-than-expected March report, though oil price volatility and war risks remain key concerns. Corporate earnings drove additional gains, with Monster Beverage surging 12.7% after beating profit forecasts, fueled by international growth (45% of sales now come from outside the U.S.). Akamai Technologies jumped 23.1% following a $1.8 billion cloud infrastructure deal, while AI-focused CoreWeave saw revenue double year-over-year but reported a wider-than-expected net loss, causing its stock to drop 9.2%. Global markets reacted differently: European and Asian indexes fell, with France’s CAC 40 and Hong Kong’s Hang Seng each down 0.9%, though South Korea’s Kospi edged up 0.1% to a record high. Bond markets showed stability, with the 10-year Treasury yield easing to 4.35%. The stock rally reflects cautious optimism about economic strength despite ongoing geopolitical and energy market pressures.