US Stock Market Today Live Updates: S&P 500 Poised for Best Weekly Gain Since 2023, Focus Turns to US-Iran Peace Talks

US Stock Market Sees Gains as Investors Assess Global Developments

US stock futures surged on Friday, climbing up to 0.20% as investors weighed the easing of treasury yields and diplomatic efforts to de-escalate the war in the Middle East. The S&P 500 futures traded 0.10% higher, marking the index's best weekly run since 2023.

According to a Reuters report, the S&P 500 is poised to secure an eighth consecutive weekly gain. Dow Jones futures added 0.22%, while the Nasdaq futures gained 0.06%. The uptick in futures came amidst news that Iran's foreign minister held talks with Pakistan's interior minister about proposals to halt the nearly three-month-long war.

US Secretary of State Marco Rubio noted on Thursday that the negotiations have shown "some good signs," despite persistent differences between Tehran and Washington over Iran's uranium reserves and control of the Strait of Hormuz.

Read also: Treasury Yields Experience Largest Increase in Two Weeks Following Release of Labor Market Data

Key Developments in the Market

In other news, the Trump administration announced that US President Donald Trump will swear in Kevin Warsh as Federal Reserve chair later in the day at the White House.

The pre-market trading session showed broad strength among megacaps and growth names. Nvidia edged up 0.7% after a 1.7% decline the prior day, despite issuing a strong quarterly outlook. Semiconductor shares, key contributors to recent market gains, rose, with Intel, AMD, Marvell Technology, and Broadcom climbing between 0.9% and 3.2%.

Read also: US-Iran Tensions Spark Uptick in Oil Prices Amid Global Market Decline

Company-specific movers included Workday, which jumped 11.1% after beating first-quarter revenue and profit expectations. Take-Two Interactive rose 5% after reaffirming a November 19 launch date for the highly anticipated Grand Theft Auto VI.