U.S.-Iran Headlines and Next Week's Jobs Reports in Focus

May 3 — U.S. President Donald Trump said Iran's leadership remains divided, complicating efforts to reach an agreement to end a nine-week conflict that has contributed to a global energy crunch. Trump said Iran's demands were “one I cannot accept,” though some traders viewed the remarks as a negotiating posture rather than a signal that talks are off. Oil prices eased after reports said Tehran was sending a new proposal to Washington through Pakistan. Iranian Foreign Minister Alireza Araghchi said Iran is willing to continue diplomacy with the U.S., while noting its armed forces remain “on high alert.” WTI crude fell nearly 3% on Friday to about $103 a barrel, after gaining roughly 7% over the week. U.S. equities stayed strong, with the S&P 500 extending its record advance on Friday and posting a fifth straight weekly gain, supported by robust earnings from major technology companies. Key U.S. data on the calendar: - Wednesday 20:15: ADP Employment Change (April) - Thursday 19:30: Challenger Job Cuts (April) - Thursday 23:00: New York Fed one-year inflation expectations (April) - Friday 20:30: Unemployment rate (April), nonfarm payrolls (seasonally adjusted), and average hourly earnings (YoY/MoM) - Friday 22:00: Preliminary one-year inflation expectations (May); preliminary University of Michigan Consumer Sentiment Index (May); wholesale sales (March) Next week's spotlight is on U.S. labor-market data, led by Friday's nonfarm payrolls report. Analysts expect April payrolls to rise by 60,000, with wage growth accelerating, unemployment holding steady, and labor-force participation edging higher. A Bloomberg survey of economists suggests private-sector job gains could be stronger.