By Caitlin McCabe and Jack Pitcher
Investors are kicking off May on an optimistic note, sending the S&P 500 and Nasdaq to fresh records.
Oil prices fell and stocks extended gains after a report just before the market open Friday that Iran had shared its latest proposal for negotiations with the U.S. to mediators.
Tech stocks led the way in morning trading after Apple reported stronger-than-expected sales. Its shares rose nearly 5%.
Both the S&P 500 and Nasdaq composite finished April with their largest monthly gains since 2020, as investors looked past the war in Iran and focused instead on strong earnings and a revived tech trade.
Yet the conflict in the Middle East still looms over markets. Brent crude futures fell more than 3% on Friday to around $107 a barrel, helping boost stock investors' mood.
The impact of higher energy prices is rippling far beyond the oil world. One casualty has been the Japanese yen, which weakened considerably this week on concerns about the rising cost of the country's energy imports. Investors suspect that prompted Japan to intervene in foreign-exchange markets, sending the yen higher.
Trading activity overseas was light, with several markets in Europe and Asia closed for holidays.
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(END) Dow Jones Newswires
May 01, 2026 12:43 ET (16:43 GMT)
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