Wall Street futures moved higher early Friday as investors balanced cautious optimism over corporate earnings with concerns about escalating tensions between the US and Iran. The S&P 500 futures gained half a percent, Dow Jones futures climbed 0.3%, and Nasdaq futures rose by 0.7%, reflecting measured confidence despite recent geopolitical strains.

The fragile ceasefire between the US and Iran is under pressure following increased military activity. The US Central Command reported intercepting unprovoked Iranian attacks on Navy vessels in the Strait of Hormuz, though no ships were hit. Simultaneously, the United Arab Emirates, a US ally, faced missile and drone attacks, actively engaging in its air defenses. Despite these incidents, US President Donald Trump maintained that the ceasefire remained intact amid ongoing negotiations with Tehran, which continues to review the latest US proposals to end the conflict.

Oil markets showed modest gains after earlier dips, with Brent crude rising to just above $100 a barrel and US benchmark crude closing near $95. These prices remain elevated compared to levels before the conflict began. The key Strait of Hormuz, a critical transit route for global oil and gas shipments, remains largely closed amid the unrest, compounded by a US naval blockade of Iranian ports, putting sustained pressure on oil and fuel costs.

Investors also focused on corporate earnings, with several companies reporting strong quarterly results. Monster Beverage shares rose nearly 8% following a report of sales and profit increases exceeding 25% year-over-year, driven by robust global demand for energy drinks. Callaway Golf experienced an 8.3% jump after surpassing sales and profit expectations and raising its full-year outlook, signaling sustained consumer interest in golf equipment and related services.

Conversely, Expedia Group shares dropped almost 8% despite beating sales and profit forecasts. Market participants reacted negatively to the company’s decision not to raise its full-year guidance, tempering enthusiasm sparked by strong first-quarter results.

Looking ahead, the market awaits the US government’s April jobs report scheduled for release later Friday. Analysts anticipate slower job growth compared to March’s unexpectedly strong figures, projecting an addition of 65,000 new jobs versus March’s 178,000.

International markets showed mixed performance, with Britain’s FTSE 100 sliding slightly, and Germany’s DAX and France’s CAC 40 each declining by nearly one percent. Tokyo’s Nikkei 225 also retreated 0.2% after hitting an all-time high in the previous session. Notably, SoftBank Group’s shares fell 4.6%, following a sharp rise the day before.