Stock futures trended higher on Friday morning as investors closely watched updates on U.S.-Iran talks. The S&P 500 Index (SPX) is set to end the week on a positive note for the eighth consecutive week, supported by optimism over solid corporate earnings and a possible resolution of tensions in the Middle East. Also, the benchmark 10-year Treasury note yield was down 3 basis points to around 4.55%. Also, the 30-year bond yield declined by 3 basis points to trade at about 5.07%. Futures on the Nasdaq 100 (NDX), the S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) were up 0.34%, 0.33%, and 0.57%, respectively, at 8:30 a.m. EDT on May 22.
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At the time of writing, Brent crude (CM:BZ) was up 0.98% to about $103.59 per barrel, while WTI crude (CM:CL) gained 0.22% to around $96.61.
In Thursday’s regular trading session, the Dow Jones closed at a new record even as Nvidia (NVDA) slipped despite a strong quarter and upbeat outlook. Overall, the Dow Jones, the S&P 500, and the Nasdaq Composite ended the day up 0.55%, 0.17%, and 0.09%, respectively.
Turning to trending stocks, Estée Lauder (EL) shares rallied more than 11% after the cosmetics company and Puig confirmed they have ended discussions about a potential merger. Also, Workday (WDAY) stock jumped about 8% on upbeat results from the finance and human resources software company. IMAX (IMAX) shares soared about 14% on reports that the company is evaluating a potential sale.