Key facts
- US stocks opened higher on Friday, with the S&P 500 and Nasdaq Composite posting gains.
- Falling oil prices eased inflation concerns for investors.
- The Federal Reserve recently raised interest rates, and markets are watching for future rate hike signals.
- The 10-year Treasury yield settled at 4.93% on Thursday.
- US crude oil fell to $101 a barrel on Thursday.
- The S&P 500 is up over 11% year-to-date and nearing its August record high.
US stock indexes opened higher on Friday, with the Nasdaq Composite leading the advance as falling oil prices eased inflation concerns. Investors are digesting the Federal Reserve's recent interest rate hike and looking for clues on future policy moves.
The Dow Jones Industrial Average rose 48.7 points, or 0.09%, at the open to 51,826.78. The S&P 500 gained 19.4 points, or 0.25%, to 7,657.17, while the Nasdaq Composite climbed 103.8 points, or 0.39%, to 26,522.09.
Recent market sentiment has been influenced by rising Treasury yields and oil prices, with escalating Middle East tensions also a factor. However, a retreat in oil prices on Thursday to $101 a barrel and a drop in the 10-year Treasury yield to 4.93% provided some relief. The S&P 500 is up over 11% year-to-date and is nearing its August record high, approximately 2% away.
Investors are also anticipating a meeting between US President Donald Trump and Chinese President Xi Jinping, with discussions expected to focus on artificial intelligence and semiconductor supply chains. Concerns about a potential slowdown in AI development have previously weighed on technology stocks.