"Futures are trading mixed as we get set to start the new trading week, as reports indicate that President Trump declined Iran's counteroffer for peace. This comes after a remarkable Friday, when stocks roared to record highs, driven primarily by a stronger-than-expected April jobs report that eased economic concerns and by a rally in technology and chip stocks."
"After briefly touching the 5% and higher level for long-dated Treasury bonds early last week, the buyers were once again the story on Friday as yields acros the curve were lower. The solid job numbers were cited as the reason buyers were looking past the inflationary implications of higher oil prices and increased Treasury borrowing. The 30-year long bond was last seen at 4.94% while the benchmark 10-year note finished the day at 4.36%."
"A modest uptick in oil prices was among Friday's few negatives. Analysts pointed to fresh military hostilities in the Strait of Hormuz, where U.S. and Iranian forces traded fire, putting the already fragile ceasefire at risk and stoking fears that supply flows through the vital Middle Eastern shipping lane could be disrupted for longer than anticipated. Brent Crude was last seen at $101.30, up 1.23%, while West Texas Intermediate finished the session at $95.42, up 0.64%. Natural gas closed Friday at $2.75, down 0.43%."
"Earnings for the first quarter, which have been outstanding, are all but over, and Wall Street's focus will remain on oil prices, the war in Iran, and any indications that inflation is edging higher. The S&P 500 rose 0.8% to close the session at 7,398 and notched its longest winning streak since 2024, while the Nasdaq Composite climbed 1.7% and finished the day at 26,247, both marking their sixth consecutive week of gains."
Futures open mixed for the new trading week after a strong Friday session. Stocks reached record highs, supported by a stronger-than-expected April jobs report and gains in technology and chip stocks. The S&P 500 closed at 7,398, the Nasdaq Composite finished at 26,247, and both logged a sixth straight week of gains. Treasury yields declined across the curve as buyers returned, with solid job data outweighing concerns from higher oil prices and increased Treasury borrowing. The 30-year bond ended near 4.94% and the 10-year note near 4.36%. Oil rose modestly as fresh hostilities in the Strait of Hormuz threatened supply flows. Brent and WTI increased, while natural gas fell. Focus remains on oil prices, the Iran situation, and signs of inflation.
Read at 24/7 Wall St.
Unable to calculate read time
Collection
[
|
...
]