U.S. markets ended higher on Friday, amid optimism over a potential U.S.-Iran deal, following reports that the United States and Iran are nearing the signing of a Memorandum of Understanding (MoU). The agreement is expected to facilitate the reopening of the Strait of Hormuz and pave the way for fresh negotiations on Iran’s nuclear program. Sentiments remained upbeat as reports also suggested that the U.S. and Iran have agreed on a framework for a 60-day extension of the ceasefire.
On the sectoral front, substantial strength was also among software stocks, as reflected by the 6.2% surge in the Dow Jones U.S. Software Index. The index reached its highest closing level in four months. Gold and brokerage stocks also posted considerable gains during the session, while telecom, retail, and natural gas stocks witnessed notable declines.
Dow Jones Industrial Average gained 363.49 points or 0.72 percent to 51,032.46, Nasdaq increased 55.15 points or 0.21 percent to 26,972.62, and S&P 500 jumped 16.43 points or 0.22 percent to 7,580.06.
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