On Friday, U.S. stock markets opened higher, continuing their record-setting trend from the previous day. The S&P 500 rose by 0.2%, marking its ninth consecutive winning week, the longest streak since 2023. The Dow Jones Industrial Average added 82 points, and the Nasdaq composite also increased by 0.2%.

Dell Technologies Leads the Charge

Dell Technologies experienced a remarkable 32% surge in its stock price after reporting first-quarter profits that significantly exceeded Wall Street’s expectations. The company attributed its success to strong demand for AI computing, leading it to raise its financial outlook for the year. Additionally, Dell secured a five-year, $9.7 billion contract with the Pentagon to enhance its use of Microsoft products and services.

Oil Prices and International Markets

Oil prices saw a decline, with Brent crude falling by $1.26 to $91.44 per barrel, and U.S. crude dropping by $1.03 to $87.87 per barrel. This decrease comes amid optimism over a tentative U.S.-Iran ceasefire deal that could lead to the reopening of the Strait of Hormuz, a vital passage for global oil shipments. The agreement, pending approval from U.S. President Donald Trump, aims to extend the ceasefire by 60 days and initiate new discussions on Iran’s nuclear program.

International markets also reflected positive sentiment. In Asia, Japan’s Nikkei 225 and South Korea’s Kospi reached new highs, driven by the global boom in artificial intelligence. European markets showed mixed results, with Britain’s FTSE 100 rising by 0.2%, while Germany’s DAX fell by 0.1% and France’s CAC 40 increased by 0.6%.

Retail Sector and Economic Outlook

In the retail sector, Gap’s shares fell by 15% after the company slightly exceeded first-quarter profit targets but lowered its full-year sales guidance. Investors continue to monitor developments in the U.S.-Iran negotiations, as well as the broader economic implications of AI advancements and oil market fluctuations.

Original reporting: WTVQ (Lexington) — read the source article.