On Friday, Iran’s foreign minister met with Pakistan’s interior minister to discuss proposals to end the U.S.-Israeli war, according to Iranian media reports, while Tehran and Washington remain at odds over Iran’s uranium stockpiles and control of the Strait of Hormuz.
Ongoing energy supply disruptions could ripple through global prices, prompting traders to factor rate hike expectations into prices. The dollar index ended up 0.13% at 99.32; the yield on the benchmark 10-year U.S. bond closed at 4.563%, while the yield on the 2-year U.S. bond, which is sensitive to Fed policy rates, closed at 4.132%.
Spot gold pushed below the 4500 mark during the session and ended down 0.79% at $4507.10 per ounce, continuing its second weekly decline, while spot silver closed down 1.57% at $75.52 per ounce.
WTI crude ended up 1.2% lower at $100.97 per barrel, while Brent crude ended up 0.81% lower at $105.25 per barrel.
U.S. stocks closed up 0.58% on the Dow, 0.37% on the S&P 500, and 0.19% on the Nasdaq. Qualcomm (QCOM.O) rose 11.6%, leading the AI chip sector, while AMD (AMD.O) rose nearly 4%. The Nasdaq China Golden Dragon Index closed down 2.2%, with Azera Motors (NIO.N) down over 7% and Baidu (BIDU.O) down 2.58%.