Market stays positive
US stock market futures traded positively on Friday, suggesting a firm start to the trading session. Futures linked to the S&P 500 rose 0.28%, Nasdaq 100 futures gained 0.46%, and Dow Jones futures were up 0.12%. The early gains followed a stable session on Thursday, when major indexes recovered after recent swings. Pressure from oil prices eased and fresh earnings reports supported market sentiment, easing investors' anxieties.
Tech stocks
Technology stocks, especially those linked to AI, lifted as well. Nvidia shares rose 2.1% on Thursday after Taiwan Semiconductor Manufacturing Company's Chief Financial Officer Wendell Huang said demand from AI clients remains strong. His comments helped ease concerns that the recent rally in AI stocks had gone too far. The company's shares listed in the US jumped 4.4%, boosting the broader technology sector. On Thursday, the S&P 500 rose 0.3%, while the Dow Jones Industrial Average gained 0.6%. The Nasdaq Composite added 0.2%to close at 23,530.02.
Oil prices down
Oil prices also supported markets by moving lower. US benchmark crude traded near $59.21 per barrel early Friday. While slightly higher on the day, prices were sharply lower than earlier in the week. Oil fell more than 4% on Thursday after President Donald Trump said he had heard that plans for executions in Iran had stopped amid large protests. Markets viewed the comments as a sign that tensions around major oil-producing regions could ease. Brent crude, the global benchmark, traded near $63.86 per barrel after dropping more than 4% in the previous session.
Corporate and economic data
Corporate earnings continued to influence market direction. BlackRock shares jumped 5.9% after the company reported profit and revenue that beat expectations. The asset manager now oversees more than $14 trillion in investments. US economic data also contributed. Weekly jobless claims fell, suggesting fewer layoffs and a stable labor market. Separate reports showed manufacturing activity in parts of the US, including the mid-Atlantic region and New York state, was stronger than expected. Smaller companies benefited from the positive outlook. The Russell 2000 index rose 0.9%, as investors saw signs that the US economy remains on steady ground.
