S&P 500 Holds Flat, Eyes 1% Weekly Gain as Oil Cools on Iran Deal Talks
Updated
Updated · CNBC · Jul 9
S&P 500 Holds Flat, Eyes 1% Weekly Gain as Oil Cools on Iran Deal Talks
3 articles · Updated · CNBC · Jul 9
Summary
The S&P 500 slipped 0.1% Friday but stayed on track for a nearly 1% weekly gain after Thursday’s rally steadied the market.
Cooling oil prices lifted sentiment after Donald Trump said Iran had called to make a deal, while officials said Washington and Tehran would continue technical talks despite recent air attacks.
Tech lagged even as the broader market held up: the Nasdaq fell 0.4%, the Dow lost 21 points, and semiconductor shares weakened ahead of SK Hynix’s $149 ADR debut, with Micron down about 2%.
Meta jumped about 6% after Bank of America reiterated a buy rating, citing signs the company may be improving its AI cost structure.
The muted U.S. reaction to renewed Iran tensions echoed overseas, with South Korea’s Kospi up 2.5%, Japan’s Nikkei up 1.2%, and Europe’s Stoxx 600 edging 0.1% higher.