U.S. Stock Market Daily Briefing — 2026-05-10

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Fear & Greed Index

The CNN Fear & Greed Index is a composite sentiment gauge based on market momentum, stock price strength, breadth, put/call ratios, market volatility, and safe-haven demand. The index is currently in the Greed zone, indicating that investors are continuing their appetite for risk assets.

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Key Market Summary

• S&P 500: Hit record highs both intraday and at closing on Friday, May 8, marking a sixth straight week of gains.
• NASDAQ: Reached all-time highs in both intraday and closing figures, driven by strong performance in tech and AI-related stocks.
• Dow Jones: Closed higher; after a dip on Thursday, May 7, due to a rebound in oil prices, the index recovered on Friday thanks to positive jobs data.

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Major Market Drivers & Macro Environment

① April Jobs Report — Better-than-expected employment growth The U.S. employment report for April showed job gains exceeding analyst expectations, while the unemployment rate held steady at 4.3%. This strong data confirmed the resilience of the labor market and served as a primary engine for the stock rally.

② AI-related tech and semiconductor "changing of the guard" momentum While stocks like NVIDIA and SanDisk led the index, Wall Street also highlighted a "changing of the guard in AI." Intel, AMD, and Micron saw double-digit gains this week, reflecting expectations that CPU manufacturers and memory firms will lead the next stage of the AI cycle.

③ Easing U.S.-Iran geopolitical tensions With the Trump administration showing clear resolve to end the conflict with Iran, the impact of Middle East geopolitical risks on the stock market has dampened. CNBC reported, "Trump's explicit intent to end the Iranian conflict is one reason the market isn't being rattled by these tensions." However, oil prices have shown some volatility based on developments in the region.

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Market Expert Outlook

① Key variables for the week of May 11–15: Iran and trade A CNBC analysis of the week ahead (May 11–15) points to Iran-related geopolitical developments and trade issues as primary market variables. Given that the Trump administration's diplomatic moves have helped stabilize market anxiety, the success of these negotiations will be a deciding factor for stock trends.

② Target price upgrades following strong corporate earnings like Datadog After Datadog (DDOG) reported Q1 results that beat revenue and profit expectations, multiple analysts raised their price targets. The positive trend in the earnings season continues to provide a solid foundation for the bull market.

③ Structural market drivers under the 2026 Trump administration According to analysis by U.S. Bank, the 2026 market is being moved by a complex set of factors including tariffs, tax cuts, oil prices, and corporate earnings. Investors are advised to focus on which of these variables will exert the most significant influence in the short term.