US Stocks Close November Strong

US stock futures declined on Monday after President Donald Trump set a new deadline for Iran and intensified threats against its power plants and other civilian infrastructure if the Strait of Hormuz is not reopened. Tehran rejected the latest demand and continued strikes on energy assets across the Middle East, while the critical waterway remains effectively closed. US equities came under heavy selling pressure as the conflict drove energy prices sharply higher, fueling speculation that the Federal Reserve may delay rate cuts and potentially raise borrowing costs this year if inflation persists. Meanwhile, data released during Friday’s holiday showed the US economy added 178K jobs in March, well above expectations of 60K, while the unemployment rate edged down to 4.3% and wage growth moderated. Investors are now turning to the latest Federal Open Market Committee minutes for further signals on the central bank’s policy path.

Futures on the three major US stock indexes were down around 0.2% on Friday, as markets remained closed for the Easter holiday, with investors digesting a stronger-than-expected jobs report and developments in the Middle East. The US economy added 178K jobs in March, nearly three times market forecasts of 60K while the unemployment rate edged down to 4.3% and wage growth slowed. The data reinforced expectations that the Fed will keep the federal funds rate unchanged this year. Investors also continued to assess developments in the Middle East. US President Trump intensified his rhetoric against Iran, threatening to target the country’s infrastructure, including bridges and power plants, while Iran reportedly struck additional sites in Arab Gulf states. On the week, the major averages posted gains, with the S&P 500 rising 3.4%, the Dow Jones adding nearly 3% and the Nasdaq soaring 4.4%.

US stock futures fell slightly on Friday after a mixed Wall Street session, as investors stayed cautious going into the Good Friday break amid persistent Middle East tensions. President Trump warned the conflict with Iran could last weeks and vowed to strike Tehran “extremely hard,” remarks that lifted oil prices and stoked inflation concerns. On the trade front, Trump signed an executive order paving the way for tariffs of up to 100% on certain patented drugs if companies fail to reach agreements with his administration, while reaffirming plans for 50% duties on imported steel, aluminum, and copper. In corporate news, Tesla reported that first-quarter deliveries and production rose year-on-year but fell from the prior quarter, sending shares down more than 5%. Meantime, Globalstar jumped 13% on reports that Amazon may consider an acquisition. The S&P 500 secured its first weekly gain since the war with Tehran began, while the Dow and Nasdaq also posted advances.