US stocks swung sharply before closing higher on Friday, extending the prior day’s rebound amid lingering optimism over a potential US–Iran agreement and as markets looked ahead to the SpaceX IPO. The S&P 500, Dow, and Nasdaq 100 all posted modest gains.
President Trump denounced reports that Iran had attacked Indian vessels near the Strait of Hormuz, yet energy prices continued to fall on earlier signals that a deal could be signed as soon as next week. Such an agreement would likely restore energy supply from the region and ease inflationary pressures.
Financials advanced, supported by gains in JPMorgan and Goldman Sachs. AI infrastructure names were choppy ahead of the closely watched SpaceX offering, which aims to raise $75 billion to fund new data centers and computing capacity. The deal was reportedly more than four times oversubscribed.
Chipmakers outperformed, with AMD, Qualcomm, and Sandisk each climbing about 5%. By contrast, major hyperscalers lagged, with Microsoft, Amazon, Apple, and Oracle all down roughly 2%.
