Markets Close Higher as Iran Fears Abate

Company Earnings - Broadcom (AVGO) reported fiscal Q1 earnings of $2.05 per share, beating estimates by $0.02, with revenues of $19.31 billion slightly above the consensus of $19.29 billion, driven by AI infrastructure demand [5] - American Eagle Outfitters (AEO) exceeded earnings expectations with $0.84 per share compared to the anticipated $0.71, and revenues of $1.76 billion surpassed the expected $1.73 billion, with same-store sales increasing by 8% year over year [6] Market Performance - The Dow Jones increased by 238 points (+0.49%), the S&P 500 rose by 52 points (+0.78%), and the Nasdaq gained 290 points (+1.29%), indicating a positive market trend despite earlier concerns [1] - The small-cap Russell 2000 also saw a gain of 30 points (+1.19%), reflecting overall market buoyancy [1] Economic Indicators - ADP reported better-than-expected private-sector job growth of 63,000, surpassing the forecast of 48,000, although the four-month average of job gains is only 24,000, indicating a sluggish labor market [3] - ISM Services productivity showed a surprising increase to 56.1%, exceeding the expected 53.5%, while the final S&P Services PMI was at 51.7, which is below projections and a decline from the previous month [4]