Nasdaq Composite and Dow Jones Industrial Average opened flat on Friday, while S&P 500 heads for winning week.
Minutes into the trade, the Dow Jones Industrial Average rose over 120 points or 0.23%, S&P 500 gained over 0.13%, while Nasdaq was up 0.04%. Salesforce Inc. and Microsoft Corp. shares were up nearly 2%, wgile Nike Inc., JPMorgan Chase & Co. and Amazon.com Inc. was up over 1%. On the other hand, UnitedHealth Group Inc. and McDonald;s Corp was down nearly 1%.
US markets are on track to end the week with gains, led by technology stocks. The S&P 500 is headed for a weekly rise of nearly 1%, while the Nasdaq Composite is set to gain more than 1%. In contrast, the Dow Jones Industrial Average is marginally lower for the week, down less than 1%.
Wall Street advanced on Thursday after oil prices eased, following US President Donald Trump's comments that Iran had reached out to negotiate a deal.
According to an administration official, the US and Iran will continue technical discussions despite recent military strikes, with Washington remaining committed to pursuing a diplomatic resolution to the Middle East conflict.
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Meanwhile, semiconductor stocks traded lower ahead of South Korean memory chipmaker SK Hynix's Nasdaq debut on Friday. The company priced its American Depositary Receipts (ADRs) at $149 apiece after a strong rally this year driven by surging demand for memory chips.
Among chipmakers, Micron Technology declined around 3%, while Marvell Technology and Lam Research fell more than 1% each. Intel also slipped nearly 3%, with Broadcom trading lower as well.
As the US market opened, spot gold fell 0.8% to $4,089.93 an ounce. While, West Texas Intermediate futures was down 0.2% to trade at $71.97 per barrel. Brent crude edged higher to trade around $76 a barrel. The Bloomberg Dollar Index was little changed, with the British Pound was at $1.3413 and the Japanese yen rose 0.4% at 161.79.
Bitcoin, the largest traded cryptocurrency rose 1.3% at $64,110.52.
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