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US S&P 500 climbs to 7,398.93, Dow to 49,609.16 and Nasdaq to 26,247.08 on strong jobs report; oil up 1.2% to $101.29 per barrel.
The S&P 500 closed at a fresh all‑time high of 7,398.93, up 0.8%, after the Labor Department reported that employers added 115,000 jobs in May, nearly double economists’ expectations [1]. The Dow Jones Industrial Average inched up 12 points to 49,609.16 and the Nasdaq Composite surged 1.7% to 26,247.08, each also posting record levels.
The robust payroll numbers helped the market shrug off a 1.2% rise in Brent crude, which settled at $101.29 a barrel amid renewed fighting in the Strait of Hormuz between U.S. and Iranian forces [1]. While oil prices remain well above the pre‑conflict $70 range, the optimism surrounding the labor market and corporate earnings outweighed the geopolitical risk premium.
Corporate earnings added further lift. Monster Beverage jumped 13.6% after beating profit and revenue forecasts, driven by record overseas sales that now represent about 45% of its total—a company high [1]. Akamai Technologies surged 26.6% on a modest earnings beat and the announcement of a $1.8 billion, seven‑year cloud‑infrastructure contract with an undisclosed client, reflecting strong demand for AI‑related services [1]. Conversely, AI‑compute provider CoreWeave saw its stock fall 11.4% despite revenue doubling year‑over‑year, as a wider‑than‑expected loss and a softer revenue outlook dampened sentiment [1].
The rally extended the S&P 500’s sixth consecutive winning week, the longest streak since 2024, and kept U.S. equities climbing since late March on hopes that the Iran‑U.S. ceasefire holds and oil supplies normalize [1]. Meanwhile, Treasury yields slipped, with the 10‑year note falling to 4.36% from 4.41% the day before, easing borrowing costs for households and businesses and further supporting equity valuations [1].
Globally, most European and Asian markets fell, though South Korea’s Kospi nudged up 0.1% to a new high, underscoring the divergent regional reactions to U.S. data and oil price moves [1].
The key question now is whether the labor market’s momentum can sustain equity gains if oil prices stay elevated and geopolitical tensions persist, or if a shift in consumer sentiment—already near its lowest since 2022—could reverse the current bullish trend.
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 3 outlets · Jun 16, 2026 · How we report
A tentative deal between the United States and Iran to extend a cease‑fire and reopen the Strait of Hormuz lifted hopes for energy‑market stability, prompting gains across U.S. and Asian equity indexes.
Brent crude fell about 5% to just above $83 a barrel, a decline that helped ease inflation pressures but remains above pre‑conflict levels.
Technology, especially AI‑related stocks, saw strong gains, with SpaceX up 19.6% and chip makers Micron, AMD, and Nvidia each posting double‑digit increases.
While the deal is expected to allow the strait to reopen soon, analysts say it could take months for oil flows to normalize because about 500 ships are still waiting to pass through.
Investor sentiment turned more positive, with risk appetite increasing as the perceived geopolitical risk of the Iran‑U.S. conflict receded.