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Stock market today: Dow, S&P 500, Nasdaq climb with Wall Street set to wrap up volatile week

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US stock futures rose on Friday as Wall Street looked to build on gains driven by strength in financials and technology shares, with winning weeks for the major averages still in play.

Contracts on the S&P 500 (ES=F) added 0.3%, while those on the Nasdaq 100 (NQ=F) led gains, up 0.5%. Dow Jones Industrial Average futures (YM=F), which include fewer tech names, inched roughly 0.2% higher after stocks reversed a two-day losing streak on Thursday.

Markets are poised for another winning day as TSMC (TSM) eyes more gains. The Nvidia (NVDA) and Apple (AAPL) supplier led a revival in AI enthusiasm on Thursday that boosted chip and AI stocks more broadly. A US-Taiwan trade deal bringing $250 billion chip and tech investment in American manufacturing also lifted spirits.

Investors are also looking toward the banking sector after financial stocks rallied following upbeat earnings from major banks. Goldman Sachs (GS) rose more than 4% and Morgan Stanley (MS) jumped nearly 6% after both firms reported upbeat fourth-quarter results. Smaller banks including PNC (PNC) and Regions Financial (RF) highlight Friday’s earnings docket.

Heading into the end of a busy week, markets are digesting a flurry of political and geopolitical developments, including tensions involving Iran and Greenland and concerns surrounding the Federal Reserve’s independence.

In the midst of a legal battle between Trump’s administration and Fed Chair Jerome Powell, members of the Fed have been outspoken this week in support of maintaining rates at current levels in their bid to combat inflation. CME FedWatch has a 95% chance of rates remaining the same this month, with traders expecting the central bank’s first cut this year in June.

Despite Thursday’s rally, major indexes are on track to finish the week lower amid Wall Street’s first stretch of volatility in the new year. The S&P 500 (^GSPC) is down about 0.3% for the week, the Nasdaq Composite (^IXIC) is off roughly 0.6%, and the Dow (^DJI) is fractionally lower.

LIVE 3 updates

  • Oil prices drop as reduced chances of US intervention in Iran’s attack on civilians lower global supply fears

    Reuters reports:

    Oil prices fell in Asian trade on Friday, extending losses from the previous session, as concerns about supply risks eased after the ​likelihood of a U.S. strike on Iran receded.

    Brent (BZ=F) was down 21 cents, or ‌0.3%, to $63.55 per barrel, while U.S. West Texas Intermediate (CL=F) fell 15 cents, or 0.3%, to $59.04 per barrel at ‌0418 GMT.

    Both Brent and WTI rose to multi-month highs this week after protests flared up in Iran and U.S. President Donald Trump signalled the potential for strikes on the nation. Brent prices were still set for a fourth week of gains.

    Late on Thursday, however, Trump said ⁠Tehran’s crackdown on the protesters was ‌easing, allaying worries about possible military action that could disrupt oil supplies.

    Brent prices have given back earlier gains but remain higher than a ‍week ago, with the decline in prices spurred by Trump’s statement that he would hold off on military strikes on Iran, BMI analysts said in a note.

    Read more here.

  • Musk lawsuit against Open AI and Microsoft set to go to trial

    Bloomberg reports:

    Read more here,

  • Silver prices slip from record after critical minerals tariff walked back

    Bloomberg reports:

    Read more here.