The S&P 500 rose 0.6% at midday Friday as oil prices retreated on reports of potential diplomatic progress in the Middle East. The Dow Jones Industrial Average gained 0.7%, adding roughly 310 points, while the Nasdaq Composite edged 0.1% higher. Brent crude fell about 4% to near $95 per barrel after Reuters reported that Pakistan and China are exploring ways to broker new peace negotiations between the U.S. and Iran. American Express dropped 5.9%, shaving 120 points off the Dow, despite beating earnings estimates and raising full-year revenue guidance, as profit margins are expected to compress in the second half. Apple rose 2.5%, providing the biggest boost to all three major indexes, while SK Hynix fell 6.6% on reports it is reallocating some AI-oriented HBM manufacturing capacity to commodity DRAM production.
Apple Inc.
NVIDIA Corporation
SK Hynix IncSK Hynix fell 6.6% on reports it is reallocating AI HBM capacity to commodity DRAM.
American Express CompanyAmerican Express dropped 5.9% despite beating earnings and raising guidance, due to expected margin compression in H2.