Seoul Gazette - S&P 500, Nasdaq end at fresh records on tech earnings strength

The records came on the heels of upbeat results from Apple, which rose 3.2 percent, extending the positive sentiment on Wall Street on a day when several leading bourses in Europe and Asia were closed.

"The war is not over but the market doesn't care," said Adam Sarhan of 50 Park Investments.

"That tells me that the reaction to the news is extremely bullish and until we see any heavy selling show up, the bulls are in control."

Analysts have pointed to a winning corporate earnings season as a factor behind soaring markets. Companies in the S&P 500 are on track to report earnings growth of 27.1 percent, the highest rate in more than four years, according to Factset.

"The latest US earnings season has been robust, which has helped prevent global markets from suffering big losses despite the impact of the Iran conflict," said AJ Bell investment director Russ Mould.

Oil prices slid after Iranian state media reported that Iran delivered the text of a new proposal to mediator Pakistan on Thursday evening.

However, US President Donald Trump rejected the proposal.

"At this moment I'm not satisfied with what they're offering," Trump told reporters, laying blame for the stalled talks with Iran due to "tremendous discord" within its leadership.

While oil prices retreated, both major contracts remain above $100 a barrel as the Strait of Hormuz remains effectively shut down.

ExxonMobil Chief Executive Darren Woods warned prices could go higher, noting that the oil market has so far been able to manage the dislocation because of the amount of crude in commercial inventories and the release of some strategic governments reserves.

However, those supplies are running their course, he said.

"So there's more to come if the strait remains closed," Woods said on an earnings conference call with analysts.

Several markets were shut in Europe and Asia for the May 1 holiday, including in France, Germany, Hong Kong and mainland China.

Among markets that were open, Tokyo climbed while London fell, weighed by British bank NatWest, which reported higher quarterly net profit but warned economic conditions were deteriorating.

The European Central Bank and the Bank of England both held interest rates steady on Thursday but signaled possible increases ahead.

The US Federal Reserve and the Bank of Japan also kept borrowing costs unchanged this week.

- Key figures at around 1025 GMT -

Brent North Sea Crude: DOWN 2.2 percent to $108.17 a barrel

West Texas Intermediate: DOWN 3.0 percent at $101.97 a barrel

New York - Dow: DOWN 0.3 percent at 49,499.27(close)

New York - S&P 500: UP 0.3 percent at 7,230.12 (close)

New York - Nasdaq: UP 0.9 percent at 25,114.44 (close)

London - FTSE 100: DOWN 0.1 percent at 10,363.93 (close)

Tokyo - Nikkei 225: UP 0.4 percent at 59,513.12 (close)

Paris - CAC 40: Closed for a holiday

Frankfurt - DAX: Closed for a holiday

Hong Kong - Hang Seng Index: Closed for a holiday

Shanghai - Composite: Closed for a holiday

Dollar/yen: DOWN at 157.06 yen from 156.59 yen on Thursday

Euro/dollar: DOWN at $1.1720 from $1.1731

Pound/dollar: DOWN at $1.3578 from $1.3604

Euro/pound: UP at 86.32 pence from 86.24 pence

F.Kang--SG