Stocks closed out the week on a high note Friday, buoyed by a stronger-than-expected jobs report and continued optimism around a potential U.S.-Iran peace deal, though the two countries exchanged fire after Iran launched a new missile attack against the United Arab Emirates (UAE). Nevertheless, President Donald Trump noted the ceasefire is in effect, and Secretary of State Marco Rubio told reporters that an answer to the peace proposal could come today.
The S&P 500 and Nasdaq both notched record closes and secured their sixth-straight weekly gains, their longest win streaks since October 2024. The Dow settled slightly above breakeven and marked its fifth weekly win in six.
Gold Posts Daily, Weekly Gains
Oil prices rose on Friday after Iran led another missile attack against the United Arab Emirates (UAE) and the U.S. hit two invading Iranian tankers. June-dated West Texas Intermediate (WTI) settled modestly higher at $95.42 per barrel, but fell more than 10% this week.
Gold prices climbed higher, as investors continued to hope for a peace deal between the U.S. and Iran. June-dated gold futures were last seen 0.5% higher to settle at $4,735.50 an ounce. For the week, the yellow metal added 3.7%.
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