Tech Surge Amid War Uncertainties: Nasdaq Leads the Charge

The S&P 500 and Nasdaq made gains on Friday as investors kept a close watch on the delicate U.S.-Iran truce. This was against a backdrop of robust corporate earnings despite warnings arising from the war-induced energy price shock. The Nasdaq was spurred higher by strong performances in tech shares, notably Intel, while the S&P 500 showed more modest growth.

Throughout the week, the S&P 500 and the Nasdaq pointed towards modest gains, whereas the Dow faced a downturn. Peace discussions between the U.S. and Iran were expected to restart in Pakistan, with Iranian Foreign Minister Abbas Araqchi anticipated to arrive, suggesting hopes of a potential significant peace agreement.

Oil prices saw a dip as the hope of renewed peace talks overshadowed supply concerns, with U.S. crude declining by 1.51%. On the corporate front, strong earnings reports continued, but many CEOs gave conservative forecasts due to rising fuel costs related to the war. The Dow, S&P 500, and Nasdaq all displayed varied market responses to these complex dynamics.

(With inputs from agencies.)