Stock market news for May 8, 2026

Key Points:

• U.S. equities closed higher on Friday, with the S&P 500 and Nasdaq Composite reaching new all-time highs, buoyed by a stronger-than-expected April jobs report showing 115,000 new jobs added and steady unemployment at 4.3%, alongside optimistic earnings reports, particularly in the tech sector.
• Rising tensions between the U.S. and Iran, including military exchanges in the Strait of Hormuz and U.S. strikes on Iran-flagged oil tankers, caused oil prices to rise modestly and injected uncertainty into markets, with investors awaiting Iran’s response to U.S. peace proposals.
• Despite the market rally, some analysts, including Michael Burry, warn of a bubble reminiscent of the dot-com era, driven by heavy investor enthusiasm for artificial intelligence-related stocks, while JPMorgan economists expect rising energy prices to lead to demand destruction.
• Major chipmakers like Micron Technology and AMD saw significant stock gains amid strong earnings and robust demand for memory and AI infrastructure, with Micron crossing the $700 level and AMD surpassing a $700 billion market capitalization.
• Asian markets mostly declined due to concerns over renewed U.S.-Iran hostilities, while U.S. futures opened slightly lower as geopolitical tensions persisted despite positive domestic economic data.