Quick overview

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Major U.S. stock indexes opened higher Friday after wrapping up their strongest month since 2020, fueled by upbeat corporate earnings and renewed investor optimism. Meanwhile, oil prices pulled back after recently climbing to a four-year high.

The DJIA slipped 0.43%, while the NASDAQ Composite gained 0.9% and the S&P 500 advanced 0.3%.

All three benchmark indexes ended Thursday’s session in positive territory, with the S&P 500 and Nasdaq closing at record highs, largely supported by strong quarterly earnings from major companies, including Alphabet Inc..

Exxon and Chevron Beat Expectations

Earlier Friday, Exxon Mobil Corporation and Chevron Corporation reported quarterly earnings that topped Wall Street expectations despite operational disruptions tied to tensions between the United States and Iran.

The conflict delayed shipments and forced accounting adjustments that weighed on results, but both energy giants still managed to outperform analyst forecasts for the first quarter.

April marked an exceptionally strong month for equities overall. The Dow Jones climbed 7.1%, the S&P 500 rose 10.2%, and the Nasdaq Composite surged 15.2%, delivering the best monthly performance for major indexes since 2020.

Oil Pulls Back After Four-Year High

The price of Brent Crude for July delivery settled at $108.17 per barrel on Friday, down nearly 2% from the previous session.

The decline followed a sharp rally earlier in the week, when Brent briefly touched $126.41 per barrel — its highest level since 2022, during the early stages of the war in Ukraine.

Markets appeared encouraged by renewed hopes for a diplomatic agreement between Iran and the United States after mediator Pakistan revealed that Iran had presented a proposal for negotiations.

Despite Friday’s pullback, Brent crude remains well above pre-war levels near $70 per barrel, keeping alive concerns about a renewed global inflation surge that could pressure central banks to maintain higher interest rates for longer.