US markets extended their rally to a sixth consecutive week, with stocks rising to fresh records as signs of labor-market strength drove equities higher. The S&P 500 gained on the week, bolstered by speculation that the world’s largest economy remains resilient in the face of an energy shock triggered by the Iran war. Treasury yields declined modestly across the curve, as mixed economic data reinforced expectations the Federal Reserve will stay on hold. Gold rose for the week, supported by central-bank buying and safe-haven demand amid Middle East tensions, while WTI crude oil fell despite ongoing geopolitical uncertainty. US employers added 115,000 jobs in April, beating the 65,000 jobs forecasters had expected, though the unemployment rate remained at 4.3%. Consumer sentiment fell to a record low of 48.2 in May from 49.8 in April, as concerns about inflation’s impact on personal finances and buying conditions weighed on households. Last week’s market performance reflected a tug-of-war between economic resilience and elevated uncertainty, leaving investors navigating a complex environment of solid growth data against persistent geopolitical and inflation concerns.
