Markets set to open up after better-than-expected April jobs report

Futures tied to the Dow Jones Industrial Average dvanced 181 points, or 0.4%. Nasdaq $NDAQ 100 futures led the way with a gain of roughly 0.9%, while S&P 500 futures added about 0.5%.

April payrolls came in at 115,000, well above the 55,000 gain that Dow Jones-polled economists had penciled in. The jobless rate remained at 4.3%, matching expectations.

The jobs data arrives at a sensitive moment for monetary policy. Inflation anxieties have mounted amid the Iran conflict and its upward pressure on energy costs, and analysts have also grown uneasy about whether the labor market is beginning to lose momentum. U.S. Treasury yields fell following the report.

Oil prices moved between small gains and losses. West Texas Intermediate crude futures were up about 0.3% to about $95 per barrel, while Brent crude traded at about $100 a barrel. The military confrontation between the U.S. and Iran in the Strait of Hormuz has kept oil prices elevated, with Washington and Tehran each accusing the other of firing first. According to U.S. Central Command, American forces "intercepted unprovoked Iranian attacks and responded with self-defense strikes" while three Navy destroyers were passing through the strait.

Trump took to Truth Social on Thursday night to declare that the Iranian attackers had suffered great damage while his destroyers emerged unscathed. The president also suggested the broader ceasefire was holding, characterizing the exchange as "just a love tap."

Rubio said Friday that a response from Iran on the peace proposal could come before the end of the day. Reports from Iranian state media on Thursday indicated that Tehran had received messages from Washington through Pakistani intermediaries and was still deliberating, with no decision yet reached, according to CNBC. Press TV, the Iranian government's state broadcaster, quoted a senior official who rejected what he described as an "unrealistic plan" for U.S. forces to reopen the strait, and warned that Iran would seek reparations before allowing the conflict to conclude.

Thursday's session saw the S&P 500 and Nasdaq Composite touch new record highs before giving up those gains by the close. Despite that late-day softness, all three major indexes remain on course for weekly advances, with the Nasdaq leading at roughly 2.8%, the S&P 500 adding about 1.5%, and the Dow trailing the pack with a gain of around 0.2% for the week.