Stock market today: S&P 500, Nasdaq post 6th weekly win as chip stocks rally, jobs data boosts sentiment

US stocks climbed while semiconductor stocks soared following a better-than-expected April jobs report.

The tech-heavy Nasdaq Composite (^IXIC) rose 1.7% while the S&P 500 (^GSPC) increased 0.8%, with both averages posting all-time record highs in their sixth week of gains. Tech stocks gained as semiconductors, which have led the rally over the past six weeks, powered higher.

The Dow Jones Industrial Average (^DJI) was little changed.

President Trump said there will be a 3-day ceasefire between Russia and Ukraine.

“I am pleased to announce that there will be a THREE DAY CEASEFIRE (May 9th, 10th, and 11th) in the War between Russia and Ukraine,” wrote Trump on social media.

“This Ceasefire will include a suspension of all kinetic activity, and also a prison swap of 1,000 prisoners from each Country,” said Trump. “This request was made directly by me, and I very much appreciate its agreement by President Vladimir Putin and President Volodymyr Zelensky. “

The Russia-Ukraine war has been going on since 2022.

Gold (GC=F) June futures edged higher on Friday to cap weekly gains.

Bullion is up more than 2% over the past five trading sessions.

Prices were supported by a weaker dollar and continued safe-haven demand amid uncertainty surrounding the US-Iran conflict.

Intel (INTC) stock jumped about 14% Friday, putting it on track for its best day since April 24, after the Wall Street Journal reported that Apple (AAPL) and Intel reached a preliminary chip-making agreement.

The report says Intel would manufacture some chips for Apple devices, though it is still unclear which products. That gives investors a fresh reason to bet on Intel’s foundry turnaround.

Intel hit its fourth straight intraday record high on Friday. The move also came in a huge session for chip stocks, with Intel, Micron (MU), and Nvidia (NVDA) each nearing $100 billion in market-value gains on the day.

Broadcom (AVGO) and AMD (AMD) are also rallying, putting the top chip gainers on track to add well over $400 billion in market value Friday.

Space stocks are back on Wall Street’s radar.

Rocket Lab (RKLB) stock jumped more than 25% Friday, hitting its first intraday record high since January.

The space company reported stronger-than-expected quarterly revenue and gave an upbeat forecast for the current quarter. Rocket Lab also announced its biggest launch deal yet, covering multiple Neutron and Electron launches between 2026 and 2029, along with a $30 million Anduril contract for three HASTE hypersonic test launches.

The level to watch is $100. Rocket Lab is pushing through the $96 to $100 breakout zone intraday, but it needs a close above the big, round $100 price level to make the breakout more convincing. If the move fails, the bigger support zone sits around $75 to $80.

Enhanced Group (ENHA) began trading on the New York Stock Exchange on Friday. The company went public by merging with blank check firm A Paradise Acquisition Corp, giving it a $1.2 billion valuation.

The stock jumped as much as 20% shortly after going public.

Enhanced Games is involved in producing international sports competitions that allow athletes to use medically supervised performance-enhancing drugs.

Next month, the company will host its inaugural Enhanced Games at Resorts World in Las Vegas.

Micron’s (MU) AI memory rally is still running hot.

Micron stock jumped Friday, putting the memory-chip maker on track for its seventh straight intraday record high and adding to a weekly gain of more than 30%.

Micron has hit 28 intraday records this year and added $437 billion in market value since March 20, lifting its valuation to roughly $800 billion. That makes it the fourth-largest chip stock, behind Nvidia (NVDA), TSMC (TSM), and Broadcom (AVGO).

The next key area is well below the tape. Micron’s old breakout zone around $465 to $470 is the support area to watch, though that’s roughly 34% below current trading levels.

Consumer sentiment fell to a record low in May as cost-of-living concerns remained top of mind, according to the University of Michigan.

The Index of Consumer Sentiment showed consumer sentiment between April 21 and May 4 had a preliminary reading of 48.2, a fresh record low.

While year-ahead inflation expectations eased slightly to 4.5% this month from 4.7% last month, they remained well above the 3.4% reading taken in February before the start of the Iran war.

The survey showed that consumers felt the war’s impact on gas prices.

“About one-third of consumers spontaneously mentioned gasoline prices and about 30% mentioned tariffs,” the survey’s director Joanne Hsu said. “Taken together, consumers continue to feel buffeted by cost pressures, led by soaring prices at the pump.”

Hsu added that signs of easing in the Middle East conflict alone aren’t likely to budge sentiment until consumers begin to see the effects in the form of lower fuel costs.

Nvidia (NVDA), Apple (AAPL), and the Roundhill Magnificent Seven ETF (MAGS) all hit their second intraday record high of the year this morning. Meanwhile, Alphabet (GOOG, GOOGL) extended its 2026 total to 16.

Here are this morning’s intraday record highs:

Indexes: Nasdaq Composite (^IXIC), S&P 500 (^GSPC), Nasdaq 100 (^NDX), PHLX Semiconductor Index (^SOX)

Dow Jones Sectors/Industries: Large-Cap Technology, Computer Hardware, Semiconductors, Technology, Technology TR, Tech Hardware & Equip

Large-cap sector ETFs: Technology (XLK)

Industry/Style/Country ETFs: Memory (DRAM), Emerging markets (EEM), Taiwan (EWT), South Korea (EWY), Semiconductors (FTXL, SMH, SOXQ, SOXX, XSD), Magnificent Seven (MAGS), Mega Cap (MGC), Momentum (MTUM), Value (VLUE)

Health care stocks: DaVita (DVA)

Tech stocks: Apple (AAPL), Analog Devices (ADI), Advanced Micro Devices (AMD), ASML (ASML), AXT (AXTI), Dell Technologies (DELL), F5 (FFIV), Corning (GLW), Himax Technologies (HIMX), Ichor (ICHR), Intel (INTC), nLIGHT (LASR), Microchip Technology (MCHP), MACOM (MTSI), Micron (MU), MaxLinear (MXL), Nvidia (NVDA), SMART Global (PENG), Sandisk (SNDK), Seagate (STX), Wolfspeed (WOLF)

Communication services stocks: Alphabet (GOOG, GOOGL)

US stocks rose at the open as investors reacted to the April jobs report and rising tensions between the US and Iran.

The tech-heavy Nasdaq Composite (^IXIC) led gains, rising 0.6%. The S&P 500 (^GSPC) and Dow Jones Industrial Average (^DJI) opened 0.4% higher following a down day for markets.

In individual stocks, Cloudflare (NET) tanked 20% in early trading after the company announced sweeping layoffs, citing artificial intelligence as a factor. CoreWeave (CRWV) fell nearly 10% after its revenue forecast missed expectations.

US Treasury yields fell, with the 10-year yield (^TNX) dropping 3 basis points to 4.35%.

Gold, meanwhile, edged higher by 0.5%. And bitcoin (BTC-USD) fell 1% to trade under $80,000.

Gold (GC=F) futures rose 0.5% on Friday following the April jobs report and were headed for a weekly gain.

Prices held onto gains and hovered at $4,734 per troy ounce after the US labor market showed signs of resiliency, with the unemployment rate holding firm at 4.3%.

The bigger driver may be signs of easing in the US-Iran war, as President Trump said a ceasefire remained “in effect,” despite the exchange of attacks on Thursday.

As Annex Wealth Management chief economic strategist Brian Jacobsen told Yahoo Finance about the jobs data on Friday, “It’s almost like turning on a fan in a hurricane.”

Stock futures rose after the April jobs report showed better-than-expected hiring last month.

Futures on the S&P 500 (ES=F) rose 0.5%. Nasdaq 100 futures (NQ=F) climbed 0.8%. Contracts on the Dow Jones (YM=F) added 0.3%.

Job growth strengthened in April. As Yahoo Finance’s Emma Ockerman reports, payrolls rose by 115,000 last month, and the unemployment rate stayed at 4.3%, the Labor Department said Friday. Economists surveyed by Bloomberg had estimated a median gain of 65,000 jobs following March’s blockbuster increase of 178,000 roles, which was revised upward to 185,000.

Market watchers are looking for signs that the labor market is stabilizing.

Yahoo Finance’s Emma Ockerman previews what to expect in the April jobs report, scheduled for release on Friday morning:

Economists surveyed by Bloomberg estimate a median gain of 65,000 jobs and expect the unemployment rate to remain flat at 4.3%, following March’s blockbuster increase of 178,000 roles.

There was already one glimmer of strength this week in private payroll growth, according to data from ADP: Private employers added 109,000 jobs in April, the fastest monthly gain since January 2025. And looking backward, March’s hiring rate improved to its highest level in nearly two years, government data released Tuesday showed.

While overall monthly payroll growth this year is lower than what was notched in much of 2023 and 2024, there’s a reason why economists aren’t freaked out — and why even a smaller-than-once-typical gain might appear strong.

Read more here.

Oil prices moderated on Friday morning after jumping 2% overnight as the US and Iran exchanged attacks.

Brent crude (BZ=F), the international benchmark, rose 0.3% in early morning trading on Friday, while West Texas Intermediate (CL=F), the US benchmark, was roughly unchanged.

Overnight, Iran launched a series of attacks against US warships moving through the Strait of Hormuz. The US military intercepted drone strikes and retaliated by striking Iranian military sites along the strait.

President Trump said the skirmish didn’t disrupt the ceasefire, which he said was still in effect. “It’s just a love tap,” Trump told ABC News: “The cease-fire is going. It’s in effect.”

The exchange of fire comes as the US and Iran have been negotiating a one-page framework to end the war. Should both sides accept the memo, peace talks could begin in Pakistan as early as next week, according to the Wall Street Journal.

Coinbase (COIN) stock fell 3% in premarket trading after the crypto exchange reported a wider-than-expected net loss in the first quarter, its second quarterly loss in a row amid the crypto industry’s downturn.

Yahoo Finance’s David Hollerith reports:

The company reported a net loss of $394 million, or $1.49 per share, in the first quarter. That’s compared to a profit of $66 million, or $0.24 per share, in the year-ago period and a net loss of $667 million, or $2.49 per share, in the previous quarter.

Net revenue also missed analyst expectations, falling 31% to $1.4 billion.

“We controlled what we could control,” Coinbase CFO Alesia Haas said in an interview, adding that the firm grew the US spot crypto trading market during the period.

“Our fundamentals are strong despite short-term macro headwinds,” Haas added.

Read more here.

Bloomberg reports:

Oil jumped following renewed clashes between US and Iranian forces, jeopardizing the outlook for a deal to end the 10-week war.

Brent (BZ=F) rose as much as 2.9% toward $103 a barrel before paring gains, while West Texas Intermediate (CL=F) was near $96. US forces struck military targets in Iran after the country fired on three Navy destroyers sailing in the Strait of Hormuz, US Central Command said. Still, the command added that it “does not seek escalation,” although it remained ready to protect American forces.

President Donald Trump said the three warships had successfully exited the waterway, and were undamaged following the attacks, according to a social-media post. On Iran, he added: “We’ll knock them out a lot harder, and a lot more violently, in the future, if they don’t get their Deal signed, FAST!”

The oil market’s focus remains on the strait, which has been effectively closed since the war began at the end of February. That’s triggered an unprecedented supply shock, with flows of crude choked off and wells across the region shut in. The waterway faces a double blockade, with Tehran obstructing traffic, while US prevents ships calling at or leaving Iranian ports.

Read more here.