US Stock Market Today: Wall Street Opens In Green As Fresh AI Deals Fuel Positive Sentiment

S&P 500, Nasdaq Composite and Dow Jones Industrial Average opened higher on Friday after receiving a tech boost in investor sentiment due to fresh AI deals. The S&P 500 traded 0.15% or 9.91 points higher at 6,725.87 at open, while the tech-heavy Nasdaq index opened 0.13% or 29.40 points higher at 22,873.45. The Dow Jones Industrial average opened 0.18% or 83 points higher at 46,602.72.

"Financial market volatility is falling across the board, partly driven by the US government shutdown and the delay to key data releases such as the September jobs data," ING strategists Chris Turner and Francesco Pesole told Bloomberg. He added, "Instead, investors remain transfixed by the AI-driven rally in megacap tech shares, which shows no signs of slowing."

Shares of Intel Corp., Apple Inc., Nvidia Corp., Oracle Corp., and Tesla Inc., and Microsoft Corp. were among the gainers for today while other majors like Google's parent company Alphabet Inc., and Meta Platforms dipped lower. Alphabet was one of the heaviest draggers on Friday, dipping 1.40% to trade at $242.24.

As the markets opened, nine out of the 11 sectoral indices were trading in the green with only Communications Services sector and Materials sector trading lower. Real Estate, Utilities, Financials and Energy sectors were among the top gainers, while Communications services was the biggest loser.

Crude oil prices ticked higher, with the Brent Crude trading 0.55% higher at $64.46 a barrel and West Texas Intermediate trading 0.66% higher at $60.89 per barrel.

The Bloomberg Dollar Spot Index was little changed, with the British Pound rising 0.2% to $1.3465. Euro rose 0.2% to $1.1740 and the Japanese Yen was little changed at 147.25 per dollar. Bitcoin, the largest traded cryptocurrency saw a decline of 0.2% to $120,524.95.

In commodities, spot gold rose 0.63% to trade higher at $3,879.67, marking its seventh weekly gain.