(Sharecast News) - Wall Street trading got off to a mixed start on Friday as traders turned their attention to Middle East developments and SpaceX's landmark initial public offering.
As of 1445 BST, the Dow Jones Industrial Average was up 0.52% at 51,114.56, while the S&P 500 ticked up 0.08% to 7,399.97 and the Nasdaq Composite came out of the gate 0.33% weaker at 25,724.53.
The Dow opened 265.81 points higher on Friday, extending gains recorded in the previous session (929.97) as chipmakers staged a rebound and oil prices eased, even after the US carried out further strikes against Iran overnight.
Equities rallied on Thursday after chip stocks bounced back and Donald Trump suggested the US and Iran were close to finalising a peace agreement, telling reporters the two sides were "pretty close" to a signing and that the documents were in "final shape", adding that any deal would ensure Iran "will never have a nuclear weapon". Markets had already been buoyed earlier in the day after Trump said he had called off planned strikes on Iran.
Trump repeated his view that an agreement could be reached "over the next few days" and said the Strait of Hormuz would reopen once a deal was sealed. Tehran pushed back, with stateaffiliated outlet Fars reporting that Iran had not approved any draft text for an initial memorandum of understanding. However, Iranian state media later reported that a draft version of a memorandum of understanding included a commitment from Washington to lift oil sanctions, in addition to a commitment from Tehran to reopen the Strait of Hormuz. A peace deal could be signed in Switzerland as soon as Sunday, according to Bloomberg, which cited people familiar with the plans.
Oil prices slipped on the news, with West Texas Intermediate down 2.68% at $85.36 a barell, while international benchmark Brent crude was 2.43% lower at $88.18 a barell.
Elsewhere, traders will be focussed on SpaceX, which raised $75bn in a recordsetting IPO, catapulting Elon Musk's rocket, satellite and artificial intelligence group into the upper tier of USlisted companies amid surging investor demand. SpaceX priced 555.6m shares at $135 ahead of trading on Friday, with the deal potentially climb to $86bn if banks exercise an additional greenshoe allocation, implying a valuation of $1.78trn. It also sets the tone for potential listings from Anthropic and OpenAI later this year.
No major corporate earnings were scheduled for publication on Friday.
On the macro front, a preliminary reading of the University of Michigan's consumer sentiment index was slated for release at 1500 BST.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Intel Corp. (INTC) $116.22 6.43%
Boeing Co. (BA) $220.62 6.04%
Caterpillar Inc. (CAT) $908.03 4.84%
Nike Inc. (NKE) $45.71 4.55%
Goldman Sachs Group Inc. (GS) $1,056.48 3.43%
Amgen Inc. (AMGN) $356.13 2.51%
Home Depot Inc. (HD) $329.64 2.22%
Cisco Systems Inc. (CSCO) $121.73 2.21%
Apple Inc. (AAPL) $296.51 2.16%
Walt Disney Co. (DIS) $101.13 1.75%
Dow Jones - Fallers
Microsoft Corp. (MSFT) $388.01 -3.05%
Salesforce.Com Inc. (CRM) $164.58 -2.62%
Chevron Corp. (CVX) $185.40 -2.10%
Dow Chemical Co. (DOW) $33.40 -1.78%
Coca-Cola Co. (KO) $82.26 -1.27%
Visa Inc. (V) $320.81 -1.21%
Procter & Gamble Co. (PG) $149.68 -0.48%
Unitedhealth Group Inc. (UNH) $406.32 -0.47%
Johnson & Johnson (JNJ) $237.96 -0.07%
Verizon Communications Inc. (VZ) $47.18 -0.02%
S&P 500 - Risers
Alaska Air Group Inc. (ALK) $47.08 11.95%
International Paper Co. (IP) $35.45 9.73%
Kohls Corp. (KSS) $17.48 9.14%
KLA-Tencor Corp. (KLAC) $238.79 9.07%
Lam Research Corp. (LRCX) $357.67 8.27%
Carnival Corp. (CCL) $29.08 8.20%
Macy's Inc. (M) $25.34 8.12%
Albemarle Corp. (ALB) $164.49 8.04%
Micron Technology Inc. (MU) $972.02 8.03%
Applied Materials Inc. (AMAT) $549.79 7.78%
S&P 500 - Fallers
Coterra Energy Inc. (CTRA) $32.56 -8.62%
Oracle Corp. (ORCL) $184.83 -8.53%
Autodesk Inc. (ADSK) $205.63 -7.73%
Adobe Systems Inc. (ADBE) $202.31 -7.69%
Intuit Inc. (INTU) $274.20 -4.87%
News Corp Class A (NWSA) $26.25 -4.62%
Devon Energy Corp. (DVN) $44.40 -4.27%
News Corp Class B (NWS) $29.82 -4.14%
Akamai Technologies Inc. (AKAM) $133.80 -3.95%
Gartner Inc. (IT) $146.91 -3.94%
Nasdaq 100 - Risers
KLA-Tencor Corp. (KLAC) $238.79 9.07%
Lam Research Corp. (LRCX) $357.67 8.27%
Micron Technology Inc. (MU) $972.02 8.03%
Applied Materials Inc. (AMAT) $549.79 7.78%
Asml Holdings N.V. (ASML) $1,853.26 6.60%
Intel Corp. (INTC) $116.22 6.43%
American Airlines Group (AAL) $14.83 6.12%
Starbucks Corp. (SBUX) $102.76 5.23%
Western Digital Corp. (WDC) $540.35 5.06%
Seagate Technology Plc (STX) $883.27 4.61%
Nasdaq 100 - Fallers
Qvc Group Inc Series A (QVCGA) $0.34 -13.49%
Autodesk Inc. (ADSK) $205.63 -7.73%
Adobe Systems Inc. (ADBE) $202.31 -7.69%
Workday, Inc. (WDAY) $128.84 -6.77%
Intuit Inc. (INTU) $274.20 -4.87%
Biomarin Pharmaceutical Inc. (BMRN) $55.60 -4.55%
Baidu Inc. (BIDU) $115.32 -3.98%
Meta Platforms Inc. (META) $570.84 -3.73%
Cognizant Technology Solutions Corp. (CTSH) $51.21 -3.62%
Gen Digital Inc. (GEN) $23.96 -3.35%
161.10 (1.56%)
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