Stocks climb Friday as Trump touts Russian diesel deal; oil stays high
The S&P 500, Dow and Nasdaq all gained about 0.6% to 0.8% on Friday, finishing a record-setting week higher. Brent crude settled near $105 as markets weighed a U.S.–Russia diesel supply deal against Middle East war risks.
The close: The S&P 500 rose 0.6% to 7,811.54, the Dow Jones Industrial Average added 423 points, or 0.8%, to 51,654.95, and the Nasdaq Composite gained 0.6% to 27,366.17, the Los Angeles Times (AP) and AFP reported. All three major U.S. indexes logged weekly gains. Europe’s main markets also rose at least 1%.
Diesel and oil: President Donald Trump said Friday that Russia would supply diesel to U.S. and global markets after talks with Vladimir Putin, temporarily easing sanctions, AFP reported. Analysts said the announcement eased some worst-case supply fears, but Brent settled at $104.72 a barrel, up 0.4%, and West Texas Intermediate at $91.85, also up 0.4%. Global prices remain elevated amid the Middle East war and Hormuz shipping risks.
What moved stocks: Software and health care helped reverse Thursday’s AI-led selloff tied to a Financial Times report that OpenAI’s revenue run rate looked below earlier investor expectations, AFP said. Microsoft rose 2.4% and Amazon 3.3%. Cell-tower operators jumped after SpaceX announced a spectrum purchase for Starlink Mobile, while T-Mobile, AT&T and Verizon fell sharply, the LA Times reported. Humana rallied on Medicare Advantage quality-rating news.
Bonds and next week: The 10-year Treasury yield finished around 5.24%, still near multi-decade highs that raise borrowing costs, the LA Times said. Major U.S. banks report earnings next week.