US equity indices were mixed on Friday, pausing after the sharp rebound in the previous session as optimism over an imminent US–Iran agreement collided with renewed volatility in technology shares ahead of the SpaceX IPO. The S&P 500 finished essentially unchanged, as a 0.5% gain in the defensive Dow offset a 0.5% decline in the tech-heavy Nasdaq 100.
President Trump said the US was close to a deal that would gradually restore energy trade through the Strait of Hormuz, while Iran confirmed the agreement was nearly finalized. Energy prices and bond yields retreated, easing financial conditions after recent data showed a faster pace of both consumer and producer price inflation. Shares of JPMorgan and Goldman Sachs advanced, lending support to the financial sector.
AI infrastructure stocks were volatile ahead of the SpaceX IPO, which is set to raise $75 billion for new investment in data centers and computing capacity. The offering was reportedly more than four times oversubscribed. Nvidia slipped 0.5%, while Microsoft and Amazon each declined 1.5%.
