Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
Economists project the April Consumer Price Index will rise 3.7% annually as gas prices surge past $4.50 a gallon following the outbreak of war in late February.
The S&P 500 set a record high while more constituent stocks hit new lows than new highs, marking only the third time such a divergence has occurred since 1990.
Taiwan Semiconductor Manufacturing estimates the global semiconductor market will reach $1.5 trillion by 2030, doubling projected 2025 spending.
Donald Trump rejected Tehran's latest response to a U.S. proposal, stating that the potential ceasefire between the two nations is on massive life support.
Economists expect the April CPI to rise 3.7% annually as gasoline prices surge past $4.50 a gallon following the outbreak of war between the U.S. and Iran.
The S&P 500 closed 7.7% above its 50-day moving average while only 52% of its individual stocks traded above their own 50-day averages.
Employers were expected to add 65,000 jobs in April, down from March's 178,000 gain.
Traders have priced out any Fed rate cut through April 2031, as officials said inflation remains above target.
Brent crude stayed above $100 a barrel on Friday, more than 38% above pre-conflict levels.
Brent crude futures fell 0.60% to $113.77 and WTI dropped 1.35% as markets stabilized following a volatile session sparked by military conflict in the Strait of Hormuz.
Foreclosure filings reached 118,727 properties in the first quarter of 2026, marking a 26% annual increase and the highest volume since 2020.
The Dow Jones Industrial Average fell 557 points as geopolitical tensions in the Strait of Hormuz threatened a fragile ceasefire.
