Bonds & Stocks
A record-breaking run drove stocks toward their longest weekly rally since 2024 after a batch of solid corporate earnings, signs of economic strength and hopes for a deal to end the Iran war. The S&P 500 rose 0.3%. The yield on 10-year Treasuries advanced two basis points to 4.39%.
Economy
The number of initial jobless claims in the US fell below 200,000 for the week ended April 25, marking the lowest level since 1969. This suggests that recent job-cut announcements have not yet translated into actual widespread layoffs. According to Department of Labor data released Thursday, jobless claims came in lower than the 212,000 expected by analysts. Additionally, the previous week's data was revised upward by 1,000 to 215,000 applications.
World
Iran delivered a new proposal to the US and President Donald Trump vowed to maintain a naval blockade, as the two sides pursue behind-the-scenes diplomacy to turn a fragile ceasefire into a lasting peace.