US indices are surging on Friday supported by semiconductor stocks and scheduled second rounf of US - Iran talks in Pakistan, where Jared Kushner and Steve Witkoff are headed to negotiate the peace deal. Nasdaq 100 is up 1,85% while S&P 500 is climbing 0,7% - new historic records are set today for both. Nvidia shares are up almost 5% today rising to new all-tim high and reaching market capitalization of $5 billion.
The US dollar is weakening, while precious metals are edging higher, with silver standing out—up more than 1.5%. Gold is gaining around 0.6%. Despite optimism in equity markets, Bitcoin has failed to reach new highs and is posting a slight decline, holding near $77.5K.
U.S. Attorney Jeanine Pirro halted the criminal investigation into Federal Reserve Chair Jerome Powell on Friday, paving the way for the approval of his successor amid concerns over President Donald Trump’s attacks on the independence of the central bank.
Final University of Michigan consumer sentiment came in stronger than expected, while inflation expectations showed mixed signals.
- University of Michigan Consumer Sentiment (final): 49.8 (above forecast of 48.5 and prior 47.6)
- Consumer Expectations Index (final): 48.1 (above forecast of 47.7 and prior 46.1)
- Current Conditions Index (final): 52.5 (above forecast of 51.0 and prior 50.1)
- 5-year inflation expectations (final): 3.5% (above forecast of 3.4% and prior 3.4%)
- 1-year inflation expectations (final): 4.7% (below forecast of 4.8% and prior 4.8%)
White House spokesperson Leavitt stated that the Iran-related mission has entered a diplomatic phase. Iran is reported to have initiated contact and requested a face-to-face meeting. Witkoff and Kushner are scheduled to travel to Pakistan on Saturday morning to continue discussions on Iran.
According to Al Arabiya sources, talks are ongoing regarding the status of the Strait of Hormuz and enriched uranium, with both sides exchanging messages on these issues. The New York Times reports that Pakistani Prime Minister Sharif is expected to meet with Witkoff and Kushner to continue negotiations.
Investors are buying semiconductor stocks on Friday, lifting shares of AMD, Intel, Qualcomm, TSMC, KLA Corp and other semis. BigTech shares ale also very solid with Alphabet up more than 1% and Meta & Amazon up 2.7% and 3.2% respectively. Shares of Avis Budget meme stock dropped almost 8% today, extending the 70% sell-off from recent days. European stock market session was much weaker, with CAC40 and FTSE losing almost 0.8% and German DAX down 0.1% despite 6% rise of SAP shares.
(Daily summary in progress)
Source: xStation5
Source: xStation5
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