NEW YORK, New York - U.S. stock indices closed higher on Friday, with investors looking past elevated bond yields and focusing instead on diplomatic developments surrounding the US-Iran conflict and the reopening of the Strait of Hormuz, as oil prices retreated slightly.
The Standard and Poor's 500 closed at 7,743.51, up 39.38 points or 0.51 percent, on volume of 2.543B. The index traded between a session low of 7,693.08 and a high of 7,752.07, against a 52-week range of 6,316.91 to 7,816.70.
The Dow Jones Industrial Average led the gains, climbing 478.61 points or 0.93 percent to close at 51,828.59, with volume of 380.731M. The blue-chip index moved between 51,339.24 and 51,874.94 during the session, within a yearly range of 45,057.28 to 54,744.33.
The NASDAQ Composite added 129.34 points or 0.48 percent to finish at 27,068.72 on volume of 5.547B, after trading between 26,876.27 and 27,122.76. Its 52-week range stood at 20,690.25 to 27,288.79.
Market participants said the advance demonstrated resilience in the face of higher bond yields, which typically pressure equity valuations. Instead, investors appeared to take encouragement from ongoing US-Iran talks aimed at ending the war and reopening the Strait of Hormuz, a critical chokepoint for global oil shipments. News of progress on that front helped push oil prices slightly lower, easing some of the inflationary concerns that have weighed on markets in recent weeks.
Analysts cautioned that the situation remains fluid, with any breakdown in negotiations likely to revive volatility in both energy and equity markets. Nevertheless, Friday's session reflected a market willing to look through near-term rate pressures toward a potentially more stable geopolitical backdrop.
U.S. Dollar Retreats Across the Board Friday as Profit-Taking Erodes Recent Gains
The U.S. dollar weakened against all major currencies on Friday as traders locked in profits following the greenback's recent surge, according to the latest foreign exchange market quotes.
The euro strengthened against the dollar, with EUR-USD trading at 1.1398, a gain of 0.16 percent for the single currency. The British pound also advanced, as GBP-USD rose to 1.3251, up 0.24 percent. The Australian dollar posted a similar move, with AUD-USD at 0.7028, an increase of 0.23 percent.
The dollar's weakness was most pronounced against the Japanese yen, where USD-JPY climbed to 157.21, a rise of 1.04 percent for the yen. The dollar also softened against the Canadian dollar, with USD-CAD at 1.4145, edging up 0.05 percent, and against the Swiss franc, as USD-CHF stood at 0.8283, up 0.06 percent.
Currency strategists attributed the broad dollar pullback to profit-taking after the greenback's recent run higher, with investors choosing to book gains ahead of the weekend rather than extend their long-dollar positions. The uniform nature of the dollar's decline — falling against every currency in the basket — underscored the technical rather than fundamental character of the move, analysts said.
Traders will be watching next week's economic data releases and central bank commentary for fresh direction on whether the dollar's retreat marks a temporary pause or the start of a more sustained reversal.
Global Stock Markets End Mixed Friday as European Bourses Gain, Asia Retreats
World stock markets closed Friday's session with a mixed performance, as major Canadian, UK, and European indices finished mostly higher while several Asian benchmarks slipped into negative territory.
In Canada, the S&P/TSX Composite index rose 94.43 points or 0.26 percent to close at 35,800.89, with volume of 215.328M. The index traded between 35,587.49 and 35,844.24 during the session.
In London, the FTSE 100 closed at 10,695.25, up 15.26 points or 0.14 percent. The index traded between a low of 10,666.95 and a high of 10,753.35 during the session, against a 52-week range of 9,208.50 to 10,989.50.
On the European continent, Germany's DAX P rose to 25,408.64, gaining 142.11 points or 0.56 percent, with a session range of 25,347.30 to 25,529.33 and a yearly range of 21,863.81 to 26,618.74.
In France, the CAC 40 edged down to 8,077.80, shedding 3.63 points or 0.04 percent, after trading between 8,057.15 and 8,136.29. Its 52-week range stood at 7,505.27 to 8,755.03.
The EURO STOXX 50 I advanced to 6,302.82, up 30.32 points or 0.48 percent, within a session range of 6,285.51 to 6,338.03 and a yearly range of 5,376.81 to 6,577.20. The Euronext 100 Index closed at 1,895.33, up 5.45 points or 0.29 percent, having traded between 1,890.94 and 1,904.70. Belgium's BEL 20 gained 33.14 points or 0.58 percent to close at 5,704.30, with a session range of 5,699.66 to 5,737.98.
In Asia, the Hong Kong HANG SENG INDEX fell to 24,510.09, down 251.04 points or 1.01 percent, after trading between 24,275.56 and 24,537.14. Its 52-week range was 22,518.00 to 28,056.10. Singapore's STI Index bucked the regional trend, rising 27.75 points or 0.49 percent to 5,711.12, within a range of 5,665.35 to 5,716.53.
Mainland China's SSE Composite Index dropped 48.15 points or 1.22 percent to 3,888.37 on volume of 903.368M, trading between 3,888.37 and 3,930.50.
In Japan, the Nikkei 225 posted the strongest gain of the day, surging 850.21 points or 1.30 percent to close at 66,364.20, after trading between 65,639.62 and 66,410.27. Its 52-week range stood at 44,357.65 to 72,831.73.
In Australia, the S&P/ASX 200 [XJO] closed at 8,665.00, down 37.00 points or 0.43 percent, having traded between 8,639.90 and 8,702.00. The broader ALL ORDINARIES [XAO] slipped to 8,845.60, losing 51.40 points or 0.58 percent, with a session range of 8,827.20 to 8,897.00.
New Zealand's S&P/NZX 50 INDEX GROSS closed at 13,811.11, down 13.72 points or 0.10 percent, with a session range of 13,760.81 to 13,853.25.
In India, the S&P BSE SENSEX gained 315.20 points or 0.43 percent to end at 73,895.74, after moving between 73,477.77 and 73,968.05.
Also in Southeast Asia, Indonesia's IDX COMPOSITE dropped 56.71 points or 0.90 percent to 6,241.89, while the FTSE Bursa Malaysia KLCI edged down 0.69 points or 0.04 percent to 1,671.62.
South Korea's KOSPI Composite Index was a standout gainer, climbing 63.01 points or 0.90 percent to 7,080.92 on volume of 236,996, trading between 7,014.98 and 7,153.99.
Taiwan's TSEC CAPITALIZATION WEIGHTED ST fell 132.69 points or 0.28 percent to 48,024.60, within a range of 47,754.72 to 48,117.54.
Most Middle East markets were closed on Friday and will reopen on Sunday. Israel's TA-125, however, was open and finished flat at 4,100.40, unchanged at 0.00 percent, after trading between 4,086.14 and 4,124.35.
In South Africa, the Top 40 USD Net TRI Index declined 23.05 points or 0.34 percent to 6,791.90, with a session range of 6,741.06 to 6,854.98.
Analysts noted that the divergence between European and Asian markets reflected shifting investor sentiment ahead of the weekend, with Japanese equities benefiting from a weaker yen and positive corporate earnings, while Chinese and Hong Kong shares faced renewed pressure.
(This report incorporates quotes retrieved with the assistance of artificial intelligence).
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