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US Stocks End Friday on High Note
(MENAFN) Wall Street surged Friday as robust corporate earnings overpowered investor anxiety over escalating Middle East tensions, propelling two major indexes to all-time highs and delivering a broad-based rally across global markets.
The Dow Jones Industrial Average climbed 1.62%, adding 790.33 points to close at 49,652.14, while the S&P 500 gained 1.02%, or 73.06 points, finishing at a record 7,209.01. The Nasdaq also notched a historic close, advancing 0.89%, or 219.07 points, to end at 24,892.31.
Investor anxiety eased measurably as the session progressed, with the Volatility Index (VIX) — widely known as the market's "fear index" — dropping 10.26% to settle at 16.88.
The session unfolded against a backdrop of geopolitical turbulence. US press reports indicated that American military commanders were preparing to brief President Donald Trump on fresh military options in connection with a potential US/Israel-Iran confrontation. Separately, reports emerged that the Trump administration is actively working to assemble an international coalition to restore maritime shipping through the Strait of Hormuz, where Iranian-linked tensions continue to disrupt vital energy corridors.
Despite the Strait's closure keeping energy supply risks elevated, oil prices retreated. Brent crude futures traded at $111.20 per barrel as of 2045 GMT, while West Texas Intermediate (WTI) crude stood at $105.60 — still well above pre-war levels.
On the macroeconomic front, the US economy expanded at a 2% annualized rate in the first quarter of the year, buoyed by gains in investment, exports, consumer spending, and government outlays — though the figure fell short of analyst expectations. Labor market data offered a brighter signal, with initial jobless claims falling by 26,000 from the prior week to 189,000 in the week ending April 25, beating market forecasts.
European Markets
The positive momentum reverberated across the Atlantic, with European equities posting broad gains. The pan-European Stoxx Europe 600 advanced 1.38% to close at 611.28 points.
Among national markets, the UK's FTSE 100 rose 1.62% to 10,378.82, and Germany's DAX 40 surged 1.41% to 24,292.38. France's CAC 40 added 0.53% to reach 8,114.84, Italy's FTSE MIB 30 climbed 0.94% to 48,246.12, and Spain's IBEX 35 gained 0.78% to finish at 17,781.
The Dow Jones Industrial Average climbed 1.62%, adding 790.33 points to close at 49,652.14, while the S&P 500 gained 1.02%, or 73.06 points, finishing at a record 7,209.01. The Nasdaq also notched a historic close, advancing 0.89%, or 219.07 points, to end at 24,892.31.
Investor anxiety eased measurably as the session progressed, with the Volatility Index (VIX) — widely known as the market's "fear index" — dropping 10.26% to settle at 16.88.
The session unfolded against a backdrop of geopolitical turbulence. US press reports indicated that American military commanders were preparing to brief President Donald Trump on fresh military options in connection with a potential US/Israel-Iran confrontation. Separately, reports emerged that the Trump administration is actively working to assemble an international coalition to restore maritime shipping through the Strait of Hormuz, where Iranian-linked tensions continue to disrupt vital energy corridors.
Despite the Strait's closure keeping energy supply risks elevated, oil prices retreated. Brent crude futures traded at $111.20 per barrel as of 2045 GMT, while West Texas Intermediate (WTI) crude stood at $105.60 — still well above pre-war levels.
On the macroeconomic front, the US economy expanded at a 2% annualized rate in the first quarter of the year, buoyed by gains in investment, exports, consumer spending, and government outlays — though the figure fell short of analyst expectations. Labor market data offered a brighter signal, with initial jobless claims falling by 26,000 from the prior week to 189,000 in the week ending April 25, beating market forecasts.
European Markets
The positive momentum reverberated across the Atlantic, with European equities posting broad gains. The pan-European Stoxx Europe 600 advanced 1.38% to close at 611.28 points.
Among national markets, the UK's FTSE 100 rose 1.62% to 10,378.82, and Germany's DAX 40 surged 1.41% to 24,292.38. France's CAC 40 added 0.53% to reach 8,114.84, Italy's FTSE MIB 30 climbed 0.94% to 48,246.12, and Spain's IBEX 35 gained 0.78% to finish at 17,781.
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