US open: Stocks higher as April jobs surprise offsets geopolitical concerns

(Sharecast News) - Major indices were in the green early on Friday as market participants monitored developments in the US and Israel's conflict with Iran and digested April's stronger-than-expected nonfarm payrolls report.

As of 1455 BST, the Dow Jones Industrial Average was up 0.13% at 49,661.02, while the S&P 500 advanced 0.57% to 7,378.93 and the Nasdaq Composite came out of the gate 1.03% firmer at 26,072.49.

The Dow Jones opened 64.05 points higher on Friday, taking a bite out of losses recorded in the previous session after a senior Iranian official said Tehran would not allow the US to reopen the Strait of Hormuz with what it called an "unrealistic plan", according to the Wall Street Journal. The official also warned that Washington would not be permitted to exit the conflict without paying reparations for the damage it has caused.

Oil prices were slightly lower in early trading, with West Texas Intermediate crude down 0.73% at $94.13 a barrel and international benchmark Brent crude futures 0.22% lower at $99.84 a barrel, despite US and Iranian forces exchanging fire in the Strait of Hormuz, with each side accusing the other of initiating the confrontation.

US Central Command said American forces had "intercepted unprovoked Iranian attacks and responded with selfdefense strikes" as three US Navy destroyers transited the waterway. Donald Trump said there had been "no damage done to the three Destroyers, but great damage done to the Iranian attackers". He added that the ceasefire remained in effect, describing the strikes on Iranian targets as "just a love tap".

Outside of Middle East developments, Friday's primary focus will undoubtedly be news that nonfarm payrolls rose by 115,000 in April, according to the Bureau of Labor Statistics, smashing consensus expectations for a much smaller 62,000 increase. Job gains were led by health care, transportation and warehousing, and retail trade, while federal government employment continued to decline. Revisions left employment in February and March a combined 16,000 lower than previously reported. Additionally, the unemployment rate held steady at 4.3%, as expected.

Elsewhere on the macro front, a preliminary reading of the University of Michigan's consumer sentiment index will be released at 1500 BST.

No major corporate earnings were slated for release on Friday.

Reporting by Iain Gilbert at Sharecast.com

Dow Jones - Risers

Cisco Systems Inc. (CSCO) $94.05 1.98%

Unitedhealth Group Inc. (UNH) $373.21 1.19%

Caterpillar Inc. (CAT) $903.15 1.14%

Boeing Co. (BA) $234.05 1.09%

Intel Corp. (INTC) $113.02 1.08%

Goldman Sachs Group Inc. (GS) $932.03 0.99%

Apple Inc. (AAPL) $292.33 0.90%

Coca-Cola Co. (KO) $79.11 0.85%

3M Co. (MMM) $144.66 0.83%

Procter & Gamble Co. (PG) $146.92 0.64%

Dow Jones - Fallers

Salesforce.Com Inc. (CRM) $179.44 -3.88%

Dow Chemical Co. (DOW) $37.42 -3.06%

Microsoft Corp. (MSFT) $416.50 -1.40%

International Business Machines Corporation (CDI) (IBM) $227.03 -1.27%

Nike Inc. (NKE) $44.16 -0.70%

Chevron Corp. (CVX) $181.25 -0.42%

Amgen Inc. (AMGN) $330.42 -0.33%

Visa Inc. (V) $320.38 -0.30%

S&P 500 - Risers

Akamai Technologies Inc. (AKAM) $142.43 25.50%

QUALCOMM Inc. (QCOM) $213.34 12.70%

Monster Beverage Corp (MNST) $85.18 11.44%

Gen Digital Inc. (GEN) $21.67 7.29%

Corpay Inc (CPAY) $330.41 5.93%

Micron Technology Inc. (MU) $692.32 5.27%

Ipg Photonics Corp. (IPGP) $105.09 5.14%

Microchip Technology Inc. (MCHP) $103.43 4.17%

Nvidia Corp. (NVDA) $214.87 3.38%

Teleflex Inc. (TFX) $135.03 3.04%

S&P 500 - Fallers

Dxc Technology Company (DXC) $9.39 -18.73%

Fluor Corp. (FLR) $44.08 -10.71%

Mettler Toledo International (MTD) $1,193.23 -9.05%

Coterra Energy Inc. (CTRA) $32.56 -8.62%

Expedia Group Inc. (EXPE) $229.67 -6.88%

Fidelity National Information Services Inc. (FIS) $44.29 -5.71%

Henry Schein Inc. (HSIC) $70.16 -5.13%

Fortune Brands Innovations, Inc. (FBIN) $37.23 -5.12%

Align Technology Inc. (ALGN) $166.40 -4.54%

Gilead Sciences Inc. (GILD) $132.35 -4.52%

Nasdaq 100 - Risers

QUALCOMM Inc. (QCOM) $212.76 12.70%

Monster Beverage Corp (MNST) $85.22 11.44%

Gen Digital Inc. (GEN) $21.62 7.29%

Baidu Inc. (BIDU) $148.75 5.96%

Micron Technology Inc. (MU) $695.33 5.27%

Microchip Technology Inc. (MCHP) $103.54 4.17%

Nvidia Corp. (NVDA) $215.35 3.38%

Tesla Inc (TSLA) $421.01 2.85%

Charter Communications Inc. (CHTR) $160.20 2.47%

Verisk Analytics Inc. (VRSK) $171.68 1.81%

Nasdaq 100 - Fallers

Qvc Group Inc Series A (QVCGA) $0.34 -13.49%

Mercadolibre Inc. (MELI) $1,686.56 -11.53%

Expedia Group Inc. (EXPE) $229.93 -6.88%

Henry Schein Inc. (HSIC) $69.97 -5.13%

Align Technology Inc. (ALGN) $166.27 -4.54%

Gilead Sciences Inc. (GILD) $132.06 -4.52%

Illumina Inc. (ILMN) $137.38 -3.66%

DENTSPLY Sirona Inc. (XRAY) $10.96 -3.60%

J.B. Hunt Transport Services Inc. (JBHT) $241.14 -3.14%

Wynn Resorts Ltd. (WYNN) $103.04 -2.73%