Dow Jones closes higher again! Tech and chip stocks surge despite market focus on Iran war negotiations.
U.S. stock markets continued their upward trend on Friday, driven by buying in technology and semiconductor stocks following better-than-expected U.S. nonfarm payroll data, reflecting economic strength. Meanwhile, investors continued to monitor progress in negotiations between the U.S. and Iran after President Donald Trump rejected Iran's latest offer to stop a potential war.
U.S. stock markets closed higher, supported by tech and semiconductor stocks.
U.S. stock markets closed in positive territory on Friday, May 8, 2569. The S&P 500 and Nasdaq indices hit new record highs after investors reacted positively to the April U.S. job creation figures, which showed an increase of 115,000 jobs, exceeding market expectations of 55,000 jobs and reflecting a strong economic outlook.
The main buying interest remains concentrated in technology and semiconductor stocks, as investors monitor the conflict in the Middle East, US inflation data to be released this week, and earnings reports from several large companies.
- Dow Jones Industrial Average Closed at 49,609.16 points, up 12.19 points (+0.02%)
- S&P 500 Index Closed at 7,398.93 points, up 61.82 points (+0.84%)
- Nasdaq Composite Index Closed at 26,247.076 points, up 440.88 points (+1.71%)
European stock markets closed lower after Trump threatened to raise tariffs on the EU.
European stock markets closed lower on the same day. Following President Donald Trump's threat to raise tariffs on goods from the European Union if the EU does not comply with the trade agreement with the United States, investors have once again become concerned about trade tensions.
Banking and defense stocks weighed down the market, with Commerzbank falling after reporting first-quarter earnings. European defense stocks also weakened due to profit-taking amid uncertainty in the Middle East.
- STOXX 600 Index Closed at 612.14 points, down 4.28 points (-0.69%)
- DAX German stock market index Closed at 24,338.63 points, down 324.98 points (-1.32%)
- CAC 40 Index of the French stock market Closed at 8,112.57 points, down 89.51 points (-1.09%)
The UK stock market closed lower as investors worried about global politics and trade.
The London stock market closed lower on Friday. Amid pressure from global trade uncertainty and the results of the UK local elections, which are putting pressure on Prime Minister Keir Starmer's government,
Investors continue to monitor the situation in the Middle East, as well as the direction of the global economy and the monetary policies of various central banks. Meanwhile, the pound strengthened after the British Prime Minister confirmed that he would not resign.
- FTSE 100 Index UK Stock Market Closed at 10,233.07 points, down 43.88 points (-0.43%)
Oil prices rose after the US fired on an Iranian oil tanker.
Global oil prices rose on Friday after Iran launched another missile attack on the United Arab Emirates, while the US military fired on two Iranian oil tankers attempting to break through a naval blockade.
Although oil prices remain under pressure from hopes of a war-ending negotiation, the market remains concerned about supply risks in the Middle East, particularly in the Strait of Hormuz, a vital global oil shipping route.
- WTI crude oil price (June delivery) It closed at $95.42 per barrel, a slight increase.
- Brent crude oil price (July delivery) It closed at $101.29 per barrel, up approximately 1%.
Gold prices rose on expectations that the Fed will slow down interest rate hikes.
Global gold prices rose on Friday. And it is likely to close the week in positive territory, as investors assess that tensions in the Middle East may be beginning to ease, which would reduce inflationary pressure and increase the likelihood of the Federal Reserve cutting interest rates in the future.
Investors continued to buy gold despite stronger-than-expected U.S. employment data, as analysts believe gold prices are still supported by geopolitical uncertainty and global interest rate outlooks.
- Spot Gold Price Closed at $4,723.28/ounce, up 0.8%.
- Gold price on the COMEX market (June delivery). Closed at $4,733.00/ounce, up 0.5%.
The dollar weakened as investors hoped for a resolution to the Middle East conflict.
The US dollar weakened on Friday. Investors have begun returning to risky assets after markets expressed hope that the United States and Iran might be able to reach an agreement to end their conflict, despite ongoing clashes between the two sides.
Meanwhile, investors are also monitoring the direction of the U.S. Federal Reserve's monetary policy, as employment figures continue to reflect the strength of the labor market, which may lead the Fed to keep interest rates at high levels for some time.
- Euro/Dollar It closed at $1.1773, up 0.4%.
- Dollar/Yen Closed at 156.585 yen, down 0.3%.
- Pound/Dollar It closed at $1.36155, up 0.5%.
Read news related to All stock situations around the world can be found here.
