NASDAQ and S&P close at record levels.
Dow breaks 50 K but backs off into the close
Fed’s Goolsbee warns Iran war turning into an inflationary shock for U.S. economy Dow reaches 50,000. There have been 4 closes above the 50K level Fed’s Goolsbee: Impact of rising productivity on inflation remains active topic of debate Trump: WIll not let Iran have a nuclear weapon WSJ: Iran & US mediators are hammering out a one page 14 point memorandum of understanding Weekly crude oil inventories for the current week fall -2.313 million vs -3.291M estimate Iran update: Conflicting messages from Israel. France says they can make the Hormuz safe.
Fed’s Musalem: Inflation risks remain front and center US April ADP employment +109K vs +99K expected investingLive European markets wrap: End in sight to US-Iran war? Or another false dawn? Trump’s ultimatum: If Iran doesn’t agree to deal, the bombing will start at higher level Before North American traders entered for the day, reports surfaced suggesting that the U.S. and Iran were moving closer to a potential peace agreement.