Wall Street indices Dow Jones Industrial Average and extended gains on Friday as traders eyed a Memorandum of Understanding between the United States and Iran, and oil prices recovered slighty.
Wider index S&P 500 opened 0.16% higher at 7,575.42, tech-heavy Nasdaq Composite was up 0.15% to 26,956.54 at open, and Dow Jones Industrial Average opened 0.21% higher at 50,777.20.
Crude oil prices eased a bit with Brent crude down 1.71% to $92.11 per barrel and West Texas Intermediate trading 1.46% lower at $87.61 per barrel.
Shares of Dell Technologies Inc. rocketed over 33% as it raised its annual revenue FY27 forecast to between $165 billion and $169 billion from $138 billion and $142 billion.
As of 10:05 a.m. EST, Nasdaq gained 0.61% or 165 points to 27,073.47 on the back of Dell's rally, S&P traded 0.42% higher at 7,595.01, and Dow Jones was up 0.37% to 50,855.59.
However, what stood out to the wall street investors was that it now expects AI server revenue of about $60 billion in fiscal 2027, up from $50 billion.
ALSO READ: Dell Shares Soar 33% After Raising Outlook To $167 Billion On AI Server Boom
AI-led giants such as Micron Technology Inc., Nvidia Corp., and Advanced Micro Devices Inc. traded higher. MU extended gains to soar nearly 6% to $975.5, Nvidia jumped over 1% to $217, and AMD traded 0.7% higher at $521.44.
Notably, after the market opened, most of the 11 sectoral indices traded in the red, with only two trading in the green. The losses were led by consumer staples, communication services, and energy sectors. Only Financials and Information Technology sector clocked gains.
The currency front remained muted with the Dollar Spot Index little changed, the euro little changed at $1.1650, British pound was little changed at $1.3441, and the Japanese yen also little changed at 159.28 per dollar.
Bitcoin, the largest traded cryptocurrency, was down 0.8% to $72,892.57.
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