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US Equity Indexes Scale New Peaks Amid Tech Gains as Trump Close to Making Decision on Iran Peace Deal

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US equity indexes rose amid a surge in technology names and as President Donald Trump appeared close to announcing his decision on a preliminary Iran peace agreement.

The Nasdaq Composite climbed 0.4% to 27,031.2, with the S&P 500 up 0.4% to 7,593.9, and the Dow Jones Industrial Average higher by 0.8% to 51,077.9 after midday on Friday.

Materials and financials were the only other sectors in positive territory intraday. Consumer staples, communication services, and energy led the decliners.

Dell Technologies (DELL) shares catapulted 28%, the top gainer on the S&P 500, after the company reported overnight fiscal Q1 financial results that topped analyst estimates and issued higher-than-expected guidance for fiscal Q2 and the full year.

President Donald Trump is making a "final determination" on a preliminary deal to extend a ceasefire with Iran after mixed messages from both sides over when an agreement might be struck, he said on Friday, according to a report from Bloomberg.

"I will be meeting now, in the Situation Room, to make a final determination," Trump said in a social media post.

Iranian officials have used the talks to project confidence that they retain significant military options should diplomacy fail, CNN reported Friday. Any renewed conflict would spread "far beyond the region," threatening "crushing blows" and "utter ruin" in places opponents "cannot even imagine," the Iranian Revolutionary Guards were cited as saying.

Brent crude futures fell 1.7% to $92.05, and West Texas Intermediate crude oil futures declined 1.1% to $87.80.

In precious metals, gold futures jumped 1.3% to $4,592.8, while silver futures slipped by less than 0.1% to $75.85.

Most US Treasury yields fell, with the 10-year down 2.1 basis points to 4.43%. The two-year declined 3.5 basis points to 3.99%.

In economic news, the Institute for Supply Management's Chicago PMI reading jumped to 62.7 in May from 49.2 in April, larger than the expected 50.3 reading in a survey compiled by Bloomberg and the highest reading in over four years.

Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she is seeking greater clarity on the Middle East conflict before determining the monetary policy path forward.

"Economic research suggests that, in response to temporary adverse energy supply shocks, policy should not be overly aggressive at stabilizing total inflation to keep employment close to our maximum-employment goal," Bowman said at the Reykjavik Economic Conference.

Further in company news, Costco Wholesale (COST) posted higher fiscal Q3 earnings and revenue late Thursday. The company's net new warehouse openings in fiscal 2026 are, however, set to be below its previous guidance, according to an earnings conference call following the results. Its shares dropped 4.7%, among the worst performers on the Nasdaq.

The Dow's leader was IBM (IBM), with shares soaring 9.5%, after the company said in a filing that it plans to invest more than $10 billion over the next five years to support quantum computing development.

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US Equity Indexes Rise as Iran Peace Deal Reportedly Awaits Trump's Signature, Core Inflation Eases Unexpectedly

US equity indexes rose as a deal to end the war against Iran was said to be awaiting President Donald Trump's signature and as the Federal Reserve's preferred inflation gauge unexpectedly eased in April.The Nasdaq Composite climbed 0.9% to 26,917.47, the S&P 500 advanced 0.6% to 7,563.63, and the Dow Jones Industrial Average edged up by less than 0.1% to 50,668.97 at the close on Thursday.A tentative agreement has been reached between the US and Iran to open the Strait of Hormuz and start nuclear talks, according to US officials, CNN reported, adding that Trump has not signed off on it yet. Negotiators for the US and Iran agreed on a 60-day memorandum of understanding to extend the ceasefire, Axios reported, citing two US officials.Meanwhile, US Central Command confirmed that Iran fired a ballistic missile toward Kuwait overnight, which was intercepted, CNN reported. Iran's Islamic Revolutionary Guard Corps earlier said it launched an attack targeting an American air base, claiming it was the source of US strikes, according to the news report.Brent crude futures slipped 0.4% to $93.94. West Texas Intermediate crude oil futures rose 0.5% to $89.15.In precious metals, gold futures jumped 1% to $4,528.2, and silver futures climbed 1.3% to $75.90.The personal consumption expenditures, or PCE, price index slowed to 0.4% month-over-month from 0.7% in March, Bureau of Economic Analysis data showed. The Street expected 0.5% in a Bloomberg-compiled poll. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.Annually, the PCE index jumped 3.8% in April, the largest increase since May 2023, up from 3.5% in March but in line with market expectations. Core PCE climbed to 3.3%, as expected, from 3.2% in March.Most US Treasury yields fell, with the 10-year down 2.8 basis points to 4.45%. The two-year declined one basis point to 4.02%.US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised lower from a 2.0% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg. GDP rose by 0.5% in Q4.New orders for US durable goods rose by 7.9% in April following a 1.3% increase in March, beating the 4.0% gain forecast in a survey compiled by Bloomberg. Excluding a 21.5% surge in transportation orders, new orders would have been up 1.1% in April after a 1.1% increase in March. Expectations were for a 0.5% gain.In company news, Dollar Tree (DLTR) shares soared 18%, the biggest gainer on the S&P 500, after the company posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.The worst performer on the S&P 500 and the Nasdaq was Synopsys (SNPS), down 8.6%, after the company reported a decline in fiscal Q2 non-GAAP earnings.

Dow JonesNasdaq CompositeS&P 500$DLTR$SNPS
Asia Markets

Exchange-Traded Funds Rise as US Equities Advance After Midday

Broad Market IndicatorsBroad-market exchange-traded funds IWM and IVV edged higher. Actively traded Invesco QQQ Trust (QQQ) rose 0.9%.US equity indexes rose after midday Thursday amid media speculation of a peace deal with Iran to end the war and as the Federal Reserve's preferred inflation rate eased sequentially.EnergyIShares US Energy ETF (IYE) rose 0.3%, and the State Street Energy Select Sector SPDR (XLE) added 0.1%.TechnologyThe State Street Technology Select Sector SPDR ETF (XLK) was 1.7% higher; iShares US Technology ETF (IYW) rose 1.5%, and iShares Expanded Tech Sector ETF (IGM) was up 1.6%.The State Street SPDR S&P Semiconductor (XSD) advanced 2.1%, and iShares Semiconductor (SOXX) gained 2%.FinancialThe State Street Financial Select Sector SPDR (XLF) fell 0.4%. Direxion Daily Financial Bull 3X Shares (FAS) declined 1.4%, and its bearish counterpart, Direxion Daily Financial Bear 3X Shares (FAZ), climbed 1.3%.CommoditiesCrude oil fell 0.5%, and the United States Oil Fund (USO) slipped 0.7%. Natural gas climbed 5.5%, and the United States Natural Gas Fund (UNG) was up 5.9%.Gold on Comex added 2%, and the State Street SPDR Gold Shares (GLD) rose 1.3%. Silver added 1.3%, and iShares Silver Trust (SLV) was up 1.4%.ConsumerThe State Street Consumer Staples Select Sector SPDR (XLP) lost 0.1%. The Vanguard Consumer Staples ETF (VDC) fell 0.2%, and iShares Dow Jones US Consumer Goods (IYK) was down 0.5%.The State Street Consumer Discretionary Select Sector SPDR (XLY) rose fractionally. VanEck Retail ETF (RTH) slipped 0.1%, and the State Street SPDR S&P Retail (XRT) climbed 2%.HealthcareThe State Street Health Care Select Sector SPDR (XLV) rose 1.2%, iShares US Healthcare (IYH) added 1.3%, and Vanguard Health Care ETF (VHT) was up 1.3%. IShares Biotechnology ETF (IBB) gained 1%.IndustrialThe State Street Industrial Select Sector SPDR (XLI) rose 0.1%. Vanguard Industrials Index Fund (VIS) and iShares US Industrials (IYJ) were marginally higher.CryptocurrencyIn midday activity, bitcoin (BTC-USD) fell 1.8%. Among cryptocurrency ETFs, ProShares Bitcoin ETF (BITO) dipped 1.9%, ProShares Ether ETF (EETH) lost 2.1%, and ProShares Bitcoin & Ether Market Cap Weight ETF (BETH) was 2.2% lower.

Dow Jones^EEM^EXI^FAS^FAZ^GLD^IBB^IGM^IGV^IPK^IVV^IWMNasdaq Composite^IYE^IYH^IYJ^IYK^IYW^PMR^QQQ^RTH^SOXXS&P 500^SPY^UNG^USO^VDC^VHT^VIS^XLE^XLF^XLI^XLK^XLP^XLV^XRT^XSD$BETH$BITO$EETH
Asia Markets

US Equity Indexes Rise Amid Rumors of Iran Peace Deal, Surprise Easing in Fed's Preferred Inflation Measure

US equity indexes rose amid speculation of an agreement over a path to end the war against Iran and as the Federal Reserve's preferred inflation rate unexpectedly eased in April.The Nasdaq Composite climbed 0.8% to 26,880.1, the S&P 500 advanced 0.6% to 7,562.2, and the Dow Jones Industrial Average edged up by less than 0.1% to 50,678.5 after midday on Thursday.Healthcare and technology led the gainers intraday. Financials, utilities, and consumer staples were among the decliners.Negotiators for the US and Iran reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program, but President Donald Trump has not yet given final approval, Axios reported Thursday, citing two US officials. The White House didn't immediately reply to a request for comment.Brent crude futures fell 0.6% to $93.70. West Texas Intermediate crude oil futures rose 0.2% to $88.86, off session highs of more than 1% gain.In precious metals, gold futures jumped 1.1% to $4,532.3, and silver futures climbed 1.4% to $75.91.Most US Treasury yields fell, with the 10-year down 2.8 basis points to 4.46%. The two-year declined 1.5 basis points to 4.02%.On a month-on-month basis, the personal consumption expenditures, or PCE, price index slowed to 0.4% from 0.7% in March, Bureau of Economic Analysis data showed Thursday. The Street expected 0.5% in a Bloomberg-compiled poll. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.Annually, the PCE index jumped 3.8% in April, the largest increase since May 2023, up from 3.5% in March but in line with market expectations. Core PCE climbed to 3.3%, as expected, from the 3.2% in March.US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised lower from a 2.0% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg. GDP rose by 0.5% in Q4.New orders for US durable goods rose by 7.9% in April following a 1.3% increase in March, beating the 4.0% gain forecast in a survey compiled by Bloomberg. Excluding a 21.5% surge in transportation orders, new orders would have been up 1.1% in April after a 1.1% increase in March. Expectations were for a 0.5% gain.In company news, Dollar Tree (DLTR) shares soared 18%, the second-biggest gainer on the S&P 500, after the company posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.The worst performer on the S&P 500 and the Nasdaq was Synopsys (SNPS), down 8.4%, after the company reported a decline in fiscal Q2 non-GAAP earnings.Best Buy (BBY) shares catapulted 18%, the top performer on the S&P 500, after the firm reported higher-than-expected fiscal Q1 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$BBY$DLTR$SNPS