Wall Street set new records on Thursday, with the benchmark S&P 500 closing 0.3% higher at 7,041.28, just a day after it eclipsed its previous all-time high in January. This surge in capital accumulation occurred as global energy shocks from the Iran war continued to grow, threatening essential supplies in Europe.
The Dow Jones Industrial Average rose 0.2% to 48,578.72, while the tech-focused Nasdaq composite added 0.4% to 24,102.70. These gains reflect a continued upward concentration of wealth within the financial markets.
Shares of PepsiCo gained 2.3% following its announcement of better-than-expected quarterly results, demonstrating the consistent extraction of surplus value by corporate entities. U.S. logistics company J.B. Hunt Transport Services was 6.3% higher, also on stronger-than-expected results, further illustrating the flow of capital to corporate ownership.
In other dealings, gold and silver prices were up, with gold’s price 0.1% higher at $4,814.60 an ounce and silver prices gaining 0.4% to $79.04 per ounce. These movements indicate shifts in speculative capital.
Who Profits from Conflict
Brent crude, the international standard, had surged roughly 40% since the beginning of the Iran war in late February. This significant increase in energy prices directly benefited oil capital.
On Friday, Brent crude was 1.1% lower at $98.31 per barrel, while benchmark U.S. crude was down 1.4% to $89.90 a barrel. This decline followed growing optimism over an extended ceasefire in the imperial conflict.
The Iran war has been a direct driver of global energy shocks, with the Strait of Hormuz remaining largely closed. The U.S. state has further exacerbated these conditions by imposing a sea blockade on Iranian ports, demonstrating its role in shaping global resource flows.
The Cost of Imperialism
The head of the International Energy Agency told The Associated Press on Thursday that Europe has “maybe six weeks or so” of jet fuel supplies remaining. This official warned of flight cancellations “soon,” indicating the material costs borne by workers and the general population due to imperialist maneuvers.
Asian stocks were lower Friday as investors lightened positions ahead of the weekend, watching for signs of more U.S.-Iran talks and an extension of the ceasefire expiring next week. This market reaction highlights the volatility introduced by geopolitical conflicts and their temporary resolutions.
Tokyo’s Nikkei 225 fell 1% to 58,930.87 after reaching an all-time high on Thursday. South Korea’s Kospi was 0.6% lower at 6,191.19, while Hong Kong’s Hang Seng dropped 1% to 26,126.86. The Shanghai Composite index edged down 0.1% to 4,051.45, Australia’s S&P/ASX 200 lost 0.3%, and Taiwan’s Taiex traded 0.5% lower. These declines in Asian markets reflect the cautious stance of capital in response to the shifting political landscape.
U.S. President Donald Trump suggested Thursday that he’s open to extending the two-week ceasefire in the Iran war. Iran’s U.N. envoy stated Tehran remained “cautiously optimistic” over negotiations with the U.S., indicating the ongoing diplomatic management of imperialist tensions.
The U.S. dollar rose to 159.43 Japanese yen from 159.17 yen, while the euro was trading at $1.1778, down from $1.1781. These currency fluctuations are another symptom of the global economic system's reaction to state actions and international conflicts.