Highlights
More headlines suggesting movement in US-Iran diplomatic talks sent oil prices lower and stocks higher on Friday but the impact was limited after Iranian officials denied there had been any movement. The Dow Jones industrial average rose 0.9 percent while the broader S&P 500 and the Nasdaq both gained 0.5 percent. US Treasury yields, the dollar and oil prices all declined.
Stocks also were supported by more gains in the AI space and the narrative that it will spur wider demand for computing power, chips, and other technology infrastructure. Microsoft among the day’s featured winners on reports about its latest AI offering. Other sectors leading the advance included home builders, autos, airlines, travel & leisure, parcels & logistics, and finance.