US equities climbed on Friday, supported by strong corporate earnings and tentative signs of easing tensions in the US–Iran conflict. The Dow Jones Industrial Average advanced 300 points to a fresh record high, while the S&P 500 and Nasdaq 100 extended their rallies, positioning both indexes for an eighth consecutive week of gains. Secretary of State Rubio indicated that the gap between US concessions and Iran’s demands is narrowing, helping to temper fears of an escalation over the weekend.
Workday jumped more than 8.2% in premarket trading after posting first-quarter results that topped earnings expectations. Nvidia also rebounded following a brief pullback after its earnings release. The chipmaker beat on headline figures, though its revenue guidance did not exceed the upper end of market forecasts. With most S&P 500 companies having now reported, the index is on track for its strongest earnings growth since 2021. These upbeat results have largely offset headwinds from the Iran conflict, tariffs, and the Federal Reserve’s elevated interest rates.
