Market Summary
US Futures Rise on Middle East De-escalation: U.S. equity index futures advanced after reports that the U.S. and Iran had backed away from a fresh escalation of their conflict, easing concerns over the fragile ceasefire supporting ongoing peace talks. Contracts for the S&P 500 and Nasdaq 100 both gained more than 0.7%.
Oil Gives Up Early Gains: Brent crude erased an earlier rally to $75 to trade little changed around $72.20. The Middle East conflict intensified on Thursday after Iran reportedly sank a container ship, targeted a vessel carrying Qatari oil, and struck military bases in Kuwait and Bahrain, prompting multiple U.S. retaliatory strikes.
South Korean Stocks Rebound: South Korea's chip-heavy Kospi swung higher after the government unveiled a plan aimed at cementing the country's position as a global leader in AI and semiconductors. According to media reports, total investment could exceed $650 billion.
Dollar Mixed, Treasuries Steady: The U.S. dollar traded mixed against its major peers, while the yield on the 10-year U.S. Treasury hovered around 4.38% on Friday as investors continued to monitor geopolitical developments and economic data.
Gold Extends Weekly Decline: Gold fell 2.34% for the week to around $4,087, with spot prices easing further as improving risk sentiment reduced demand for safe-haven assets.
Economic Calendar
- China PMI Manufacturing
- China PMI Non-Manufacturing
- UK GDP
- France CPI
- Germany Jobless Rate
- Italy CPI
- Canada GDP
Key Market Moves Today
- S&P 500 Futures: +0.58% (7,445)
- U.S. 10-Year Yield: +1.17 bps (4.38%)
- Brent Crude: +0.65% ($72.46)
- Bitcoin: +0.44% ($59,836)
- Spot Gold: -0.55% ($4,066)
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