Wall Street’s key stock indices edged higher on Friday, as investors were awaiting details on reports that the US and Iran had reached a deal.
At the opening bell, the Dow Jones Industrial Average rose 104.9 points, or 0.21%, to 50,773.91. The S&P 500 rose 15.7 points, or 0.21%, to 7,579.33, while the Nasdaq Composite rose 43.4 points, or 0.16%, to 26,960.84.
“The most immediate concern for investors is unblocking the Strait of Hormuz,” said senior market analyst David Morrison of Trade Nation.
“So, they will respond positively to any suggestion that ‘progress’ is being made in this regard,” Morrison added.
The blocked waterway — virtually blockaded by Tehran since the start of the war in late February — has sent global energy prices surging and snarled supply chains, roiling global markets.
Oil prices were down less than 2% on Friday.
Computing giant Dell’s stock price surged by more than 30%, boosted by a strong earnings report that significantly beat expectations as the AI boom drives the tech sector.
