New York stocks climb as payrolls beat expectations
PUBLISHED May 10, 2026, 8:15 AM ET
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US stocks advanced toward record closing levels in New York on Friday morning, supported by strong technology and semiconductor shares, better-than-expected April payrolls data, and an Iran ceasefire that remained intact despite overnight clashes near the Strait of Hormuz. The S&P 500 gained about 0.5% and the Nasdaq 100 rose 1% by 9:38 a.m., with the Philadelphia Semiconductor Index up 3.4% as Nvidia, Micron and Qualcomm rallied after solid earnings. West Texas Intermediate crude traded near $95 a barrel, little changed, as Washington anticipated an imminent Iranian response to its war-ending proposal. Shares of Block and Akamai also surged on improved outlooks.
By Daniel Hayes | JQJO News
Timeline of Events
- Thursday US equities dip amid Iran tensions
- Thursday Federal trade court rules Trump tariffs unlawful
- Overnight Clashes reported near Strait of Hormuz
- Today Iran ceasefire largely holds despite clashes
- Today April payrolls show back-to-back employment gains
- Today S&P 500 rises, led by technology
- Today Semiconductor index jumps on earnings strength
- Today Block and Akamai shares surge on outlooks
News Intelligence
- Strong stock market performance can boost your 401(k) or other investments. Tech and semiconductor shares are leading the way. Check your portfolio - you might hold these stocks. This is also good news if you're job hunting. April's payroll data shows hiring is up.
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