On Friday, markets in Japan experienced an uptick, reflecting the positive momentum observed on Wall Street, where both the S&P 500 and Nasdaq Composite achieved new peaks. This occurs as investors absorbed robust earnings from Apple and Caterpillar, while disregarding disappointing economic indicators and the potential for heightened tensions in Iran due to actions by U.S. President Donald Trump. Brent crude prices experienced a temporary spike, reaching $126 a barrel, following Axios’s report regarding the U.S. military’s intention to brief Trump on possible military actions against Iran.

However, Brent’s June contract, which expired on Thursday, later settled at $114.01 a barrel, while U.S. West Texas Intermediate was up by 0.61% at $105.71, as of 7:46 pm. Brent futures for July delivery concluded at $110.4. On Thursday, the U.S. Commerce Department announced that gross domestic product increased at an annualized rate of 2% in the first quarter. Although this represented an increase from 0.5% in the fourth quarter of 2025, it fell short of the 2.2% consensus estimate established by economists on Wall Street. Most significant Asian markets are currently closed in observance of the May Day holiday.

Japan’s Nikkei 225 increased by 0.38% to 59,513.12, while the Topix, having previously experienced losses, managed a slight recovery of 0.04%, concluding at 3,728.73. The Japanese yen experienced a slight appreciation against the dollar on Friday, following reports of Tokyo’s intervention to support the yen on Thursday, which led to a significant rally. The currency was last trading at 156.56 against the greenback, after breaching the 160 level earlier in the week, hitting a two-year high of 160.72. Australia’s S&P/ASX 200 experienced an increase of 0.74%, concluding the trading session at 8,729.8, thereby breaking an eight-session losing streak.

Overnight in the U.S., the S&P 500 experienced an increase of 1.02%, concluding at a historic high of 7,209.01, marking its inaugural close above the 7,200 level. The tech-heavy Nasdaq experienced a notable increase of 0.89%, achieving both new intraday and closing records. The blue-chip Dow Jones Industrial Average experienced an increase of 1.62%. U.S. futures for all three major indexes exhibited a slight increase following the session, with S&P 500 futures rising by 0.16%, whereas Nasdaq 100 futures remained relatively stable. Futures associated with the Dow Jones Industrial Average increased by 79 points, representing an approximate 0.2% rise.