U.S. stock markets edged mostly higher on Friday, rounding out a positive week as investors weighed corporate earnings and prospects for new trade agreements.
As of 09:32 ET, the Dow Jones Industrial Average was up 67 points, or 0.2%, the S&P 500 gained 9 points, or 0.1%, while the tech-heavy Nasdaq Composite remained largely unchanged.
All three major indexes are poised to end the week in the green. The Dow and Nasdaq are both on track for weekly gains of about 1%, while the S&P 500 has climbed roughly 1.1% so far this week.
Robust earnings have been a key driver of the rally. Of the 155 S&P 500 companies that have reported so far, nearly 83% have surpassed analysts’ expectations. That strength helped push the S&P 500 and Nasdaq to fresh intraday and closing highs on Thursday.
Trade Deal Optimism Lifts Sentiment
Beyond solid earnings, investor sentiment has been buoyed by optimism around international trade. This week’s announcement of a trade agreement with Japan raised hopes that broader deals may follow ahead of the August 1 deadline for imposing new tariffs.
The European Commission suggested earlier this week that a negotiated resolution is within reach, while U.S. and Chinese officials are set to meet in Stockholm next week to extend talks. Although both countries agreed earlier this year to reduce tariffs and signed a framework agreement, significant levies—ranging from 30% to 50%—remain on Chinese imports. Negotiators are now working toward a more comprehensive deal.
Intel Slumps on Weak Outlook; Deckers Surges
Investors are also parsing another round of corporate earnings Friday. Intel (NASDAQ: INTC) fell after issuing a downbeat forecast for the third quarter and unveiling plans to cut headcount by 22%—reducing its workforce to 75,000 by year-end through attrition and other means.
In contrast, Deckers (NYSE: DECK) jumped after the company posted strong first-quarter results, driven by robust demand for its Hoka and Ugg brands. Paramount Global (NASDAQ: PARAA) also saw modest gains following the Federal Communications Commission’s approval of its $8 billion merger with Skydance Media.
Oil Prices Steady After Inventory-Led Rally
Crude prices were little changed Friday, stabilizing after sharp gains in the previous session. As of 09:38 ET, Brent crude traded flat at $69.17 a barrel, while U.S. West Texas Intermediate (WTI) edged down 0.1% to $65.97 per barrel.
Both benchmarks rose more than 1% on Thursday following government data showing a significant drawdown in U.S. crude stockpiles. The oil market has found some support from renewed optimism surrounding U.S. trade negotiations with key partners.
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