The main US stock market indices showed some signs of recovery on the back of crude oil prices easing slightly on Friday.
The S&P 500 opened 0.6% higher at 6,711.30, Dow Jones Industrial Average rose 0.7% to open at 47,078, and the tech-heavy Nasdaq Composite index opened 0.4% higher at 22,411.28.
As of 10:33 a.m. EST, S&P 500 traded 0.56% higher at 6,709.47, Dow Jones rose 0.61% to 46,961.05, and Nasdaq traded 0.5% higher at 22,408.4.
Crude oil prices, which have spiralled into a frenzy ever since the Iran war began on Feb. 28, pulled back a bit. West Texas Intermediate fell 2.5% to $93 a barrel, while global benchmark Brent Crude slipped 1.11% to trade at $99.35 a barrel.
After the market opened, all of the sectoral indices traded in the green, with gains led by Utilities sector, Real Estate sector, Healthcare sector and Financial sector.
Adobe Inc.'s stock plunged 5.5% after CEO Shantanu Narayen announced his resignation earlier in the day. Narayen had held the position for nearly two decades.
Narayen said that he will work closely with the board during the transition period and support the next CEO while remaining involved with the company as Board chair.
ALSO READ: Adobe Shares Fall Over 6% After Longtime CEO Ends His 'Legendary Run'
The magnificent seven stocks traded on a mixed note. Nvidia Corp. rose over 1% to trade at $185.34, Apple Inc. traded flat at $255.7, Google-parent Alphabet Inc. rose 0,8% to $305.97, Tesla Inc. traded nearly 1% higher at $399, whereas shares of Meta Platforms Inc. slumped over 2% to 625.26.
Shares of Microsoft Corp. also dwindled, with the stock trading 0.3% lower at $400, while Amazon.com Inc. rose marginally to $209.59.
The US spot dollar index rose 0.2%, while euro fell 0.3% to $1.1481 and British pound fell 0.5% to $1.328 . Japanese Yen, however, rose 0.2% to 159.09 per dollar.
Bitcoin, the largest traded cryptocurrency, rose 4.5% to $73,347.88.
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