Which Arabs and Muslims and which Jews are you referring to? Throughout the world where Arabs, Muslims and Jews are living as minorities in Christian-populated countries, they tend to be allies with shared interests and concerns, such as the promotion of religious literacy and the fight against anti-Semitism and Islamophobia. Muslim Americans and Jewish Americans are also often allied on domestic issues of social justice.
Where Jews live today as minorities in Muslim majority countries, such as Iran, the views are mixed. Some say they live in harmony with their Muslim compatriots, and others say that Jews are discriminated against.
Historically, Jews and Muslims generally lived in harmony in many Muslim-populated countries, such as Morocco, Iraq, and Egypt (and, at least until the mass migration of Jews to Palestine in the early 1900s, in Palestine itself). Jews refer to Muslim rule in Spain in their history books as a period of renaissance for Jewish life. During the Spanish Inquisition, when both Muslims and Jews in Spain were forced to convert or leave, many Jews fled to Muslim countries where they lived for centuries in security and prosperity. These Muslim countries, with rare and short-lived exceptions, never propagated the anti-Jewish sentiment that resulted in pogroms and other forms of persecution that occurred in Europe.
If the question is about the conflict between Palestinians and Israelis, then this is a recent conflict which began with the twentieth-century mass settlement of Jews in Palestine, and the subsequent creation of the state of Israel. In the eyes of most Muslims, this is less about religion than about the displacement and dispossession of many Palestinians—both Muslim and Christian—as the state of Israel was formed, which is why Christian Palestinians such as Edward Said and Hanan Ashrawi have been outspoken about this issue.
Today, the evils of anti-Semitism and Islamophobia have brought Jewish and Muslim communities in America together in a mutual effort to denounce bigotry and prejudice against religious minorities, as exemplified by the fundraising efforts of Muslim Americans following the attack on a Pittsburgh synagogue. In this way, Jews and Muslims are increasingly uniting in response to a common threat that targets both communities.