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U.S. stock futures edged higher Friday morning, putting the S&P 500 on course for its eighth consecutive weekly gain — its longest winning streak since a nine-week run that ended in late 2023, according to CNBC.
Among individual contracts, the Dow-linked futures added 124 points, equivalent to a 0.25% rise, with S&P 500 futures up 0.18% and those tracking the Nasdaq $NDAQ +0.44% 100 advancing 0.27%. On a weekly basis, the Dow sits 1.5% higher while the S&P 500 has tacked on 0.5% and the Nasdaq Composite trails at 0.3%.
Optimism over a potential agreement between the U.S. and Iran drove part of Friday's positive tone, though the situation remains fluid. At the same time, Brent crude pushing past $105 a barrel has been read by some market watchers as evidence that not everyone is convinced a deal will materialize, according to The Wall Street Journal. Both Brent and WTI crude were up around 2% on Friday.
"Our view on Iran is the same as before: a deal is much more likely than not, but this is already priced in, and the conflict will have stagflationary effects for at least the next few quarters," Adam Crisafulli, founder of Vital Knowledge, told CNBC.
