Stock futures are higher as traders monitor U.S.-Iran developments; April jobs report looms: Live updates

Traders work at the New York Stock Exchange on May 7, 2026. NYSE U.S. stock futures rose early Friday as traders eyed developments between the U.S. and Iran. They also looked ahead to the release of April's jobs report . S&P 500 futures and Nasdaq 100 futures were up about 0.17% and 0.25%, respectively. Futures tied to the Dow Jones Industrial Average rose 62 points, or about 0.12%. Oil prices climbed in extended trading, with West Texas Intermediate crude futures gaining 2%, after the U.S. and Iran exchanged fire in the Strait of Hormuz. Each side claimed the other struck first. U.S. Central Command said that military forces "intercepted unprovoked Iranian attacks and responded with self-defense strikes" as a trio of U.S. Navy destroyers transited the waterway. In a Truth Social post Thursday night, President Donald Trump said there was "no damage done to the three Destroyers, but great damage done to the Iranian attackers." He also reportedly said that the ceasefire is still in effect, saying the strikes against Iranian targets were "just a love tap." On Thursday, the S&P 500 and Nasdaq Composite retreated from their record highs as investors continued to monitor the latest developments in the Middle East. The broad market index shed 0.38%, while the tech-heavy Nasdaq slipped 0.13%. The Dow lost 313.62 points, or 0.63%. The moves came after a senior Iranian official said that the country would not allow the U.S. …