Stocks are rising toward records following the latest sign that the nation’s job market is doing better than economists expected.

The S&P 500 and Nasdaq Composite rallied yet again to new intraday and record closing highs on Wednesday.

Wall Street saw even sharper swings earlier in the war, when hopes rallied for a reopening of the Strait of Hormuz, only to get quickly dashed.

Stocks are rising toward records following the latest sign that the nation’s job market is doing better than economists expected.

Positive April job growth and a steady unemployment rate could shift the Fed's focus back to fighting inflation, even as labor market risks persist.