World markets exhibited mixed performance on Friday as US futures edged higher, with most markets closed for May Day holidays. Brent crude oil prices rose by 83 cents to $111.23 per barrel, while the US benchmark crude increased by 12 cents to $105.19 per barrel.
Hopes for a cementing deal to establish a three-week ceasefire in the Iran conflict remain uncertain, as Iran’s supreme leader emphasized that the nation’s nuclear and missile capabilities are a vital asset. The ongoing war in the region continues to exert pressure on US President Donald Trump, who is contemplating a new strategy for reopening the Strait of Hormuz, a critical conduit for oil and gas exports from the Middle East.
In terms of share performance, Britain’s FTSE 100 dipped 0.6% to 10,319.24. Conversely, Japan’s Nikkei 225 saw an increase of 0.7% to 59,678.31, aided by a strengthening Japanese yen against the US dollar. Australia’s S&P/ASX 200 surged 0.9% to 8,743.70, while several other markets remained closed.
The US dollar was valued at 156.56 Japanese yen, a decrease from 156.61 yen late Thursday and significantly below the level above 160 yen observed the previous day. Japanese officials warned of potential market intervention should the yen weaken further, and reports indicate they acted on those warnings.
The euro advanced to $1.1733, up from $1.1731. Futures for both the S&P 500 and the Dow Jones Industrial Average gained 0.1% after US stocks hit record highs on Thursday due to robust earnings reports from major companies such as Alphabet and Caterpillar. The S&P 500 climbed 1% to a close of 7,209.01, its best month in over five years, while the Dow leapt 1.6% to 49,652.14. The Nasdaq composite rose 0.9% to reach 24,892.31, a new record.
In notable earnings, Alphabet’s shares rose 10% after reporting a quarterly profit that nearly doubled analyst expectations. CEO Sundar Pichai remarked that investments in artificial intelligence “are lighting up every part of the business.” This trend reflects broader optimism among companies surpassing profit expectations despite high oil prices and economic uncertainty.
However, Meta Platforms saw its shares drop by 8.7%, even though it reported higher-than-expected quarterly profits. Investors focused on increased expenditure forecasts for data centers and AI investments. Concerns linger among some investors regarding the profitability and productivity of heavy spending on AI.
Microsoft’s stock fell 3.9% after it also increased its capital spending forecast. Economic reports suggested a slower growth rate for the US economy from January to March than analysts had predicted, alongside a deterioration in a monthly inflation measure. In a separate report, a decline in unemployment benefit claims indicated fewer layoffs, despite ongoing announcements of significant workforce reductions by companies.
On oil market developments, prices stabilized Friday after Thursday’s surge, prompted by concerns over the long-term implications of the ongoing conflict on oil supplies. Traders are actively buying and selling contracts for various oil grades for future delivery. The most traded Brent crude for July delivery rose to $114.70 per barrel, subsequently falling to around $107 before settling at $110.40, nearly unchanged from the prior day. The highest price for Brent since the start of the conflict reached $119.50 last month, while less actively traded contracts for June delivery momentarily surpassed $126 before retracting to around $114. Prior to the war, Brent was priced near $70 per barrel.
The article concludes by noting the publication date as May 1, 2026.
