U.S. equities rise as reports of a potential U.S.-Iran agreement boost sentiment, while Dell surges on strong quarterly results.
The Dow Jones Industrial Average climbed 0.4% Friday, with the S&P 500 and Nasdaq Composite rising 0.3% and 0.4%, respectively, as investors reacted to reports of progress in U.S.-Iran negotiations. The gains extended Thursday’s rally, which pushed markets to fresh highs on similar optimism.
Prior to Friday’s session, the S&P 500 had closed at record levels Thursday, supported by easing geopolitical tensions and strong corporate earnings. Dell Technologies (DELL) led gains after its earnings report exceeded expectations, driving a surge in its stock price.
Oil prices declined on the prospect of increased Iranian supply, while futures pointed to continued strength in equities ahead of the session’s open.