S&P 500 Rises Toward All-Time Highs on Strong Jobs: Markets Wrap

Signs of labor-market strength drove stocks toward record highs, bolstering speculation that the world’s largest economy remains resilient in the face of an energy shock triggered by the Iran war.

The advance put the S&P 500 on track for its sixth straight week of gains on bets solid growth will keep powering Corporate America. A revival of the artificial-intelligence trade has fueled a 9% jump in a gauge of chipmakers since last Friday. Oil headed for a weekly drop. The US expects Iran to respond to President Donald Trump’s plan to end the war imminently as recent clashes threatened to further fracture a ceasefire.