Good afternoon and welcome to Markets Desk. Here is where things stand.
Equities are holding modest gains heading into the close, with the S&P five hundred up a quarter percent and the Dow adding roughly a third of a point. Chipmakers are providing meaningful support to the Nasdaq, helping offset broader uncertainty as investors stay cautious into the weekend.
The fuel behind that cautious optimism is coming partly from the energy complex. West Texas Intermediate crude dropped more than two percent on Friday as traders priced in the possibility that US and Iran negotiations could lead to a deal reopening the Strait of Hormuz. Lower crude acts as a quiet tailwind for margins across transportation, manufacturing, and consumer sectors.
Meanwhile, Microsoft co-founder Bill Gates is making noise on the regulatory front, calling on Congress to pass federal legislation governing artificial intelligence development. Gates argues that voluntary self-regulation by AI companies is simply not sufficient, and that independent oversight mechanisms need to be built into law before the technology outpaces accountability.
That is the tape. Markets Desk, signing off the floor.
