(Sharecast News) - Major indices were in the green early on Friday as steadier longdated Treasury yields and softer crude prices helped calm markets.
As of 1505 BST,the Dow Jones Industrial Average was up 0.64% at 53,098.00, while the S&P 500 advanced 0.31% to 7,665.02 and the Nasdaq Composite came out of the gate 0.11% firmer at 26,096.73.
The Dow opened 338.79 points higher on Friday, taking a bite out of losses recorded in the previous session as both oil prices and bond yields pushed higher amid renewed tensions between the US and Iran.
Stocks traded higher as longerdated US Treasury yields were little changed in early trading, with nerves around the Treasury Department's expanded buyback programme continuing to hang over markets. The 30year yield, the focal point of the scheme, was roughly half a basis point higher at 5.58%, while the benchmark 10year note was steady at 4.716%.
Elsehwere, crude prices were mixed early on Friday but remained on track for a second straight weekly gain as traders weighed Washington's threat of "crushing" economic sanctions on Iran, a move that has dampened hopes of a diplomatic breakthrough and kept attention on shipping risks through the Strait of Hormuz.
US vicepresident JD Vance said economic pressure remained Washington's "most effective tool" against Tehran, describing the standoff as a "delicate dance" in which both sides were seeking leverage. He added that Iran had faced greater strain in recent weeks and claimed that US gasoline prices, while still elevated, had fallen "substantially" as the US military worked to move more oil and gas through the Strait.
On the macro front, US business activity strengthened in August, with S&P Global's flash manufacturing, services and composite PMIs pointing to the fastest pace of privatesector growth in more than four years. The composite PMI rose to 56.0 from 54.5, a 52month high, driven by a sharp acceleration in the services PMI, which climbed to 56.8, its strongest reading in 20 months, while manufacturing was more subdued, with the headline PMI easing to 53.2 and output slipping to a 13month low of 51.9.
No major corporate earnings were slated for release on Friday.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Goldman Sachs Group Inc. (GS) $1,025.82 2.17%
American Express Co. (AXP) $334.85 1.44%
Caterpillar Inc. (CAT) $826.99 1.15%
JP Morgan Chase & Co. (JPM) $356.67 1.08%
Salesforce.Com Inc. (CRM) $205.54 1.02%
Merck & Co. Inc. (MRK) $150.93 0.97%
Intel Corp. (INTC) $92.04 0.97%
3M Co. (MMM) $179.76 0.97%
Nike Inc. (NKE) $40.52 0.97%
Unitedhealth Group Inc. (UNH) $387.00 0.85%
Dow Jones - Fallers
Apple Inc. (AAPL) $307.81 -3.68%
Amgen Inc. (AMGN) $436.37 -0.43%
Boeing Co. (BA) $214.24 -0.21%
McDonald's Corp. (MCD) $268.66 -0.16%
Walt Disney Co. (DIS) $107.14 -0.16%
Dow Chemical Co. (DOW) $32.91 -0.15%
Microsoft Corp. (MSFT) $481.52 -0.01%
S&P 500 - Risers
Freeport-McMoRan Inc (FCX) $76.11 6.86%
Albemarle Corp. (ALB) $141.70 5.59%
Borg Warner Inc. (BWA) $67.66 4.88%
Micron Technology Inc. (MU) $985.30 4.63%
Nucor Corp. (NUE) $249.55 3.78%
Ross Stores Inc. (ROST) $238.96 3.35%
Ford Motor Co. (F) $14.35 3.21%
Oracle Corp. (ORCL) $146.38 3.08%
Gen Digital Inc. (GEN) $27.97 3.02%
J.B. Hunt Transport Services Inc. (JBHT) $277.50 2.94%
S&P 500 - Fallers
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Intuitive Surgical Inc. (ISRG) $373.51 -5.28%
Apple Inc. (AAPL) $307.81 -3.68%
TripAdvisor Inc. (TRIP) $9.96 -3.51%
Equity Residential (EQR) $63.66 -3.50%
Charter Communications Inc. (CHTR) $145.86 -3.20%
Idexx Laboratories Inc. (IDXX) $546.41 -2.42%
QUALCOMM Inc. (QCOM) $161.15 -2.07%
Autodesk Inc. (ADSK) $246.73 -2.02%
Ipg Photonics Corp. (IPGP) $75.12 -1.90%
Nasdaq 100 - Risers
NetEase Inc. Ads (NTES) $127.72 5.23%
Micron Technology Inc. (MU) $985.30 3.98%
Ross Stores Inc. (ROST) $238.96 3.48%
Gen Digital Inc. (GEN) $27.97 3.02%
J.B. Hunt Transport Services Inc. (JBHT) $277.50 2.94%
Seagate Technology Plc (STX) $861.05 2.49%
Take-Two Interactive Software Inc. (TTWO) $242.32 2.40%
PACCAR Inc. (PCAR) $130.72 2.39%
Wynn Resorts Ltd. (WYNN) $100.21 2.21%
Broadcom Inc. (AVGO) $372.86 2.16%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Intuitive Surgical Inc. (ISRG) $373.51 -5.28%
Apple Inc. (AAPL) $307.81 -3.68%
Charter Communications Inc. (CHTR) $145.86 -3.20%
Idexx Laboratories Inc. (IDXX) $546.41 -2.42%
Check Point Software Technologies Ltd. (CHKP) $129.62 -2.28%
QUALCOMM Inc. (QCOM) $161.15 -2.07%
Autodesk Inc. (ADSK) $246.73 -2.02%
Booking Holdings Inc. (BKNG) $206.78 -1.89%
Amazon.Com Inc. (AMZN) $257.92 -1.81%
65.20 (0.61%)
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