US Stocks Look to Earnings and Jobs Data for Momentum
Investors await results from 100 S&P 500 firms and April jobs data. Rising oil prices and a hawkish Fed present headwinds for the record-high stock indexes.
United States equity indexes reached record highs on Thursday as the S&P 500 rose 10% and the Nasdaq Composite jumped 15% in April. These gains represent the strongest monthly performance for both indexes since 2020. Investors now face a tug-of-war between 20% earnings growth and Brent crude prices topping $120 a barrel.
### Corporate Profits Face Energy Headwinds Angelo Kourkafas at Edward Jones said fast-rising profits are currently competing with upward pressures on oil prices and bond yields. Brent crude reached a four-year high of $120 a barrel before pulling back. Energy markets remain volatile after a two-month conflict involving Israel and Iran restricted oil supplies.
