Iran is said to be evaluating a US proposal to end the near-10-week war, and it is expected to give its response as soon as Thursday, CNN reported.<\/a> The signs of progress toward relieving the blocked Strait of Hormuz pushed Brent (BZ=F<\/a>) oil futures below $100 a barrel<\/a>, helping spur a rally in gold<\/a> (GC=F<\/a>) as inflation worries eased.<\/p>\n Market sentiment also got a lift from this week\u2019s steady march of tech earnings<\/a>, indicating strength in the AI trade. Shares in Arm (ARM<\/a>) initially rose on the chip designer\u2019s\u00a0upbeat revenue forecast,<\/a>\u00a0but sank in premarket trade on concerns about a lack of chip supply.<\/p>\n McDonald\u2019s (MCD<\/a>) first quarter earnings beat estimates<\/a> as people sought out value, push shares higher. Thursday\u2019s docket also brings reports from Shake Shack (SHAK<\/a>), and Papa John\u2019s (PZZA<\/a>) before the market opens, marking the start of another packed day of results.<\/p>\n In a busy week for labor data<\/a>, Thursday brought a Challenger report on layoffs in April<\/a>, which showed AI blamed as the tech sector got hit hardest. A weekly reading on jobless claims came in cooler than expected<\/a>, setting the stage for the all-important monthly jobs report on Friday.<\/p>\n LIVE 8 updates<\/p>\n Initial jobless claims rose to 200,000 in the week ended May 2<\/a>, according to data released by the Department of Labor on Thursday, coming in above the previous week’s revised tally of 190,000 first-time claims.<\/p>\n Economists had expected initial claims to be slightly higher at 205,000 for the week, according to consensus estimates compiled by Bloomberg. The four-week moving average of initial claims fell to 203,250 from the previous week\u2019s 207,750 average.<\/p>\n Continuing claims, which track the unemployed population still seeking work, ticked down to 1.76 million in the week ended April 25 compared to the previous week\u2019s revised count of roughly 1.77 million continuing claims.<\/p>\n Economists had been looking for an increase in continuing claims, estimating roughly 1.8 million.<\/p>\n Crude oil dropped further on Thursday as markets awaited Iran’s expected response to a new framework for negotiations offered by Washington, with traffic through the Strait of Hormuz still at a standstill.<\/p>\n Futures on international Brent crude (BZ=F<\/a>) lost roughly 4.8% to trade near $96 per barrel after dropping under the $100 mark around 3 a.m. ET. Those on US WTI crude (CL=F<\/a>) shed a steeper 5.2% to trade around $90 per barrel.<\/p>\n Oil prices fell by as much as 11% on Wednesday before paring losses after reports that the US and Iran were closing in on terms to end the war that has stymied global oil markets.<\/p>\n Washington reportedly sent a memo to Tehran that would set a framework for peace negotiations, per reporting by Bloomberg and Reuters, with the Iranian regime\u2019s response expected in the coming days. Terms reportedly include a reopening of the Strait of Hormuz by both sides.<\/p>\n With traffic at a standstill, the market is losing upward of 13 million barrels\u2019 worth of oil supply per day, according to JPMorgan analysts.<\/p>\n Wall Street bankers on pace for big pay bumps in 2026 amid AI gold rush <\/p>\n Yahoo Finance\u2019s David Hollerith<\/a> reports:<\/p>\n As the AI boom spurs activity across almost every corner of Wall Street, bankers are coming out on top in compensation hikes.<\/p>\n \u201cThe big banks had a very good 2025. They\u2019re doing at least as well, if not better, this year, and pay will be up significantly,\u201d Alan Johnson, managing director of Johnson Associates, said in an interview.<\/p>\n \u201cThey\u2019re going to be pay leaders for the first time in probably a decade,\u201d Johnson added.<\/p>\n About half of Wall Street workers are expected to see some increase in compensation in 2026. IPO and M&A bankers are estimated to see the biggest jumps, up as much as 20% from last year, according to first quarter compensation projections from consulting firm Johnson Associates.<\/p>\n Read more here<\/a>.<\/p>\n Citi: 2 negative consequences if quarterly earnings reports vanish <\/p>\n On Tuesday, SEC Chair Paul Atkins introduced a proposal<\/a> that would give public companies the option to file a new Form 10-S every six months instead of the traditional Form 10-Q every quarter.<\/p>\n But as Yahoo Finance\u2019s Brian Sozzi<\/a> reports, doing away with quarterly reporting by companies could come with a few negative consequences.<\/p>\n \u201cOne unintended consequence could be for a greater shorter term influence of macro data and inputs,\u201d Citi strategist Scott Chronert warned in a note on Thursday. \u201cThat is, against a backdrop of less frequent fundamental disclosures, markets may be more inclined to trade stocks relative to perceived sensitivity to economic and monetary inputs. In some cases this could create shorter term inefficiencies.\u201d<\/p>\n Chronert added, \u201cWe would expect that the sell side will need an adjustment period. Here, there is risk of inefficiency where analyst models are updated less frequently. The same issue will affect us from an equity strategy perspective. Simply, full year and next twelve month estimates are at risk of getting stale, if not inaccurate, in a two vs four reporting cycle circumstance.\u201d<\/p>\n Read more here.<\/a><\/p>\n The stock market’s semi-charmed life <\/p>\n Yahoo Finance\u2019s Myles Udland<\/a> writes:<\/p>\n The stock market has surged to record highs<\/a>, and the names doing most of the work to get us there are coming from one industry: semiconductors<\/a>.<\/p>\n In a note to clients Wednesday morning, the team at Bespoke Investment Group noted the recent rally in semis is \u201cone of the most epic runs in history.\u201d<\/p>\n \u2026 As a group, Bespoke noted that the Philly Semiconductor Index is 56% above its 200-day moving average.<\/p>\n For readers who aren\u2019t technically inclined, the 200-day moving average is the average price of an asset over the last 200 trading days, or roughly 10 months, and can best be thought of as where the long-term trend for something \u2014 a stock, an ETF, an index \u2014 sits. Moves far above or below this level indicate prices that may be overheated or oversold.<\/p>\n Anything trading 56% of its 200-day moving average, in other words, is on a historic heater. The only other two times the group was this far above its 200-day were July 1995 and March 2000.<\/p>\n Read more here<\/a> in the takeaway from today\u2019s Morning Brief.<\/p>\n One of the S&P 500’s best earnings seasons in 20 years comes with a catch <\/p>\n The S&P 500 (^GSPC<\/a>) is not just beating Q1 earnings expectations. It\u2019s blowing them up., writes Yahoo Finance\u2019s Jared Blikre<\/a>.<\/p>\n Here\u2019s why that may not be all good news, from the Chart of the Day:<\/p>\n This earnings season is shaping up as one of the index\u2019s strongest in 20 years, with profit growth accelerating, beat rates running hot, and analysts lifting estimates instead of cutting them.<\/p>\n That\u2019s the good news.<\/p>\n The catch is that Wall Street may already be treating great earnings as the new floor.<\/p>\n Deutsche Bank is calling this<\/a> \u201cone of the best earnings seasons in 20 years,\u201d and the charts show why. The share of S&P 500 companies beating earnings estimates is running well above normal, while quarterly profit growth is tracking near 25% \u2014 more than double the typical pace outside recessions.<\/p>\n \u2026 The bigger tell is what is happening to future earnings estimates.<\/p>\n Read more here.<\/a><\/p>\n Space data firm HawkEye360 raises $416M in IPO <\/p>\n Reuters reports:<\/p>\n Space analytics firm HawkEye 360 has raised $416 million in its U.S. initial public offering, \u200cthe company said on Wednesday.<\/p>\n The Herndon, Virginia-based firm \u200csold 16 million shares priced at $26 apiece in the IPO, giving it \u200ba valuation of roughly $2.42 billion. It had targeted a price range of $24 to $26 per share.<\/p>\n After a strong April, IPO activity is expected to pick up in the coming months, \u200cwith HawkEye 360 \u2060and Suja Life set to test investor demand for defense technology and consumer brands, respectively.<\/p>\n HawkEye \u2060will also gauge appetite for space-technology offerings, as investors await a public filing from SpaceX that could bolster confidence among \u200bpeers to \u200bpursue listings and tap \u200bequity markets.<\/p>\n Read more here.<\/a><\/p>\n Gold maintains after US-Iran peace push drives precious metal in positive direction <\/p>\n Bloomberg reports:<\/p>\n![\"Jake](\"https:\/\/www.europesays.com\/news\/wp-content\/uploads\/2026\/05\/dims.jpeg\")
Initial jobless claims rise to 200,000, below expectations <\/p>\n Oil prices fall below $100 as US awaits Iran response to terms for ending war <\/p>\n Traders work on the floor of the NYSE in New York <\/p>\n