Key facts
- Wall Street indexes opened higher on Friday.
- The Dow Jones Industrial Average rose 67.32 points, or 0.13%, at the open to 51,298.96.
- The S&P 500 rose 22.35 points, or 0.29%, to 7,787.71.
- The Nasdaq Composite rose 149.59 points, or 0.55%, to 27,342.93.
- Brent crude prices were down 1.2%, trading above $100 a barrel.
- SpaceX gained 3.7% after acquiring a nationwide low-band spectrum portfolio.
Wall Street's main indexes opened higher on Friday as oil prices retreated on easing Middle East supply concerns. The Dow Jones Industrial Average rose 67.32 points, or 0.13%, at the open to 51,298.96. The S&P 500 gained 22.35 points, or 0.29%, to 7,787.71, and the Nasdaq Composite increased by 149.59 points, or 0.55%, to 27,342.93.
US stock index futures had edged higher earlier in the session. Oil prices fell after US President Donald Trump stated the country would not attack Iran before the upcoming US midterm elections, easing fears of further disruption to global energy supplies. Brent crude prices were down 1.2%, still trading above $100 a barrel.
US Treasury yields were calmer, with the benchmark 10-year yield steady at 5.25%, close to the 24-year high of 5.364% reached on Wednesday. The S&P 500 and Nasdaq were on track for weekly gains, buoyed by optimism around AI-driven third-quarter earnings that pushed both indexes to record highs earlier in the week. The Dow was set for slim weekly gains.
Megacap growth stocks were broadly higher, with Nvidia up 1.6% premarket, while Tesla and Amazon.com were each up around 1%. SpaceX gained 3.7% after announcing a deal to acquire a nationwide low-band spectrum portfolio, posing a direct challenge to established wireless carriers. Telecom firms traded lower, with T-Mobile US and AT&T falling over 6%, and Verizon down 5.3%.