The New York Stock Exchange opened higher on Friday, boosted by renewed hope about negotiations between the United States and Iran, as well as the surge in chip manufacturer Intel.
In early trading, the Dow Jones index gained 49.13 points, or 0.10%, to 49,359.45 points, while the broader Standard & Poor’s 500 rose by 0.40% to 49,359.45 points.
The Nasdaq Composite climbed 0.73%, or 178.06 points, to 24,616.56 points.
A new round of negotiations between the United States and Iran could take place in Islamabad, where the Iranian Foreign Minister is expected in the evening, according to a Pakistani government source.
The resumption of talks aimed at establishing lasting peace in the Middle East reassured investors, whose spirits had been dampened by uncertainty surrounding the negotiations earlier in the week, darkening the prospects for normalizing oil flow through the Strait of Hormuz.
The results from a series of leading companies, like chip manufacturer Intel, provided additional support.
The American group surged 25% in early trading, reaching a historical record, after anticipating higher second-quarter revenue than expected.
Its competitor AMD also rose by 12% in its wake.
Procter & Gamble advanced by 4%, with investors applauding its third-quarter sales that exceeded predictions, despite the warning about the impact of soaring oil prices on its 2027 profits.
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*Context: The article discusses the positive opening of the New York Stock Exchange due to various factors, including ongoing negotiations between the US and Iran, and strong performances by key companies like Intel.
*Fact Check: The content is based on information available at the time of writing and may be subject to updates or changes.
