Iran Headlines Move Markets & Earnings Beat Expectations

• Optimism around a potential Iran deal is influencing crude oil prices, though retail gas prices are unlikely to drop sharply due to physical supply shortages.
• Employment data (ADP) for April 2026 showed 109K jobs added, lower than the 116K estimate but an improvement from the prior revised 61K, indicating a resilient labor market.
• Earnings season has generally surpassed low expectations, with strong performances from tech companies like AMD, Disney, and Uber, while some transport names are also holding up.

Markets are showing optimism driven by potential Iran deal headlines and better-than-expected earnings, leading to higher equity prices. Despite ongoing geopolitical risks and physical supply shortages in crude oil, the labor market is not rapidly deteriorating. Tech and some transport sectors are performing well, with companies beating low expectations set for the earnings season.