FX.co ★ US Stocks Rise on Middle East Optimism

US stocks advanced on Friday, supported by signs of progress in Middle East peace talks and a robust corporate earnings season. The S&P 500 rose 0.4%, extending its winning streak to eight consecutive weeks—the longest since December 2023—while the Dow Jones gained 294 points to notch an intraday record high, marking its third positive week in four. The Nasdaq added 0.2%, securing its seventh weekly gain in eight weeks.

Secretary of State Marco Rubio said the US had made some headway toward an agreement with Iran, though he cautioned that further work is needed. Iran’s foreign ministry spokesman, however, emphasized that significant differences between the two sides persist.

In corporate news, US computer makers rallied following strong earnings from China’s Lenovo Group. Dell Technologies hit a record high, and HP Inc. jumped more than 15%. Estée Lauder climbed 11.9% after the cosmetics company and Spanish perfumer Puig ended merger talks, while Workday advanced 5.2% after topping first-quarter earnings estimates.