Overview
- U.S. stocks closed at record levels Friday after April payrolls rose by about 115,000 and gains in AI and chip shares lifted the S&P 500 and Nasdaq.
- Crude held near $100 a barrel as fighting around the Strait of Hormuz continued, with U.S. forces exchanging fire and disabling two Iranian tankers in the latest flare-up.
- Washington has proposed a gradual reopening of the Strait and easing of port restrictions, and Tehran was expected to deliver its reply via Pakistan, keeping talks in focus.
- Investors see interest rates staying on hold for longer after the strong jobs report, echoing Fed officials who described current policy as tight enough and signaled no near‑term cuts.
- Oil importers felt the strain as India’s Sensex fell about 0.7% on Friday on higher crude and weak bank stocks, though weekly returns were modestly positive.