James Gruber

In U.S.

economic news, U.S.

private payrolls rose by 109,000 jobs, posting their largest increase in 15 months in April, pointing to continued labor market stability.

U.S.

government bond yields dropped as oil prices fell, reducing inflation fears.

The U.S.

10-year Treasury yield was six points lower to 4.35%, while the U.S.

2-year Treasury yield fell six points also to 3.87%.

To the European markets, the continent-wide FTSE Euro First 300 index ended up 2.3% and the UK FTSE 100 rose 2.2%.

Europe jumped on Wednesday in a broad-based rally, as reports of a possible peace deal between Washington and Tehran boosted risk appetite, while upbeat company earnings added to the optimism.

Novo Nordisk gained 2.5% after the weight loss pillmaker raised its full-year outlook and beat first-quarter profit estimates.

BMW rose 5.4% after the German carmaker maintained its full-year outlook, despite posting a steep drop in its quarterly pre-tax profit.

Diageo was up 6.4% after the world's top spirits maker posted a surprise growth in quarterly organic sales.

It's now time for the watch list.

In Australia, there are earnings updates from Orica and Block.

The goods trade balance for March will also be released.

In the US, there are results scheduled for McDonald's, Gilead, Airbnb, Datadog, Coinbase and Expedia.

Weekly initial jobless claims are also out.

And now it's time for our One More Thing segment.

Last weekend, Berkshire Hathaway held its annual meeting, and it was the first time that Warren Buffett was in the audience rather than being up front as CEO.