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Macro EconomyUpdated×5•Originally published 7 May 2026•Updated 9 May 2026•

1 min read

Markets Await US Jobs Report Amid Oil Volatility and Geopolitical Tensions

Key Facts

1The April non-farm payroll report is expected to show an addition of approximately 55,000 new jobs.

2Crude oil prices continue to exhibit volatility driven by back-and-forth updates from the Middle East.

Global financial markets are awaiting the April Non-Farm Payrolls (NFP) report, with expectations set at a modest 55,000 new jobs. During Friday's session, the Nasdaq Composite gained 1.5%, while crude oil prices rose 1% amid escalating military tensions in the Strait of Hormuz. Regionally, Canada recorded an unemployment rate of 6.9% in April reflecting labor market softness, though its trade balance shifted to a surplus in March supported by commodity exports. In corporate news, Fluor shares plunged following disappointing Q1 results, while a federal court struck down President Trump's backup tariff plan. These developments have intensified market uncertainty, forcing investors to focus on global energy supply chains and North American macroeconomic stability.

26 days ago

Version History

4 additional sources confirmed this story

Version 526 days ago

What changed: Added Canadian macroeconomic data including the 6.9% unemployment rate and the March trade surplus.

Version 426 days ago

What changed: Updated the story to include the 1.5% Nasdaq rally, 1% crude oil gain, and the sharp decline in Fluor shares following its Q1 earnings release.

Version 327 days ago

What changed: Added used car price data as an additional economic factor being monitored by investors.

Version 227 days ago

What changed: The story was updated to reflect a shift in market focus from NFP data to geopolitical risks in the Strait of Hormuz and the unwinding of 'peace trade' expectations.

Version 127 days ago

What changed: The story was updated to include the direct military exchange between the U.S. and Iran in the Persian Gulf and the federal court ruling striking down the backup tariff plan.