Wall street opens in green on Friday as yields and crude oil prices cool off

The US markets opened on a positive note, heading for strong weekly gains. The Dow Jones opened 200 pts higher, followed by the NASDAQ 100, up 150 points. Meanwhile, the US 10Y yields dropped from the previous day's peaks, but remain at multi-decade highs.

Meanwhile, crude oil prices headed for a weekly loss as diplomatic efforts between the US and Iran pick up pace. Brent crude oil prices fell over 5% as the US and Iran decide to reopen the Strait of Hormuz in a phased manner and lift the blockade on the Iranian ports.

At the stock-specific level, shares of chip makers like Intel Corporation, Advanced Micro Devices, Micron Technologies, and SanDisk Corporation rose as much as 3% on Friday. Among the megacaps, Meta shares pared the partial gains on Friday, after the renewed interest in the Muse AI faded. The optimism around Muse AI has led investors to increase their bets on leading chipmakers like NVIDIA and AMD, which traded positively on Friday.

Meanwhile, NVIDIA shares were also in focus after reports indicated Elon Musk aims to expand X AI’s Colossus Cluster 2, which will double the need for NVIDIA chips to 2.2 lakh, up from currently 1.1 lakh GB300 chips.

On the other hand, the markets across the globe headed to close the week on a positive note. The key European benchmark indices of the UK’s FTSE, Euro Stoxx, Germany’s DAX and France's CAC 40 surged as much as 0.8% on Friday.

The Asian markets closed mixed, with Japanese and Korean indices ending with over 1% gains. The Japanese Nikkei and Korean Kospi were the top performers for the week, gaining nearly 2.7%. While the Chinese and Indian benchmark indices fell over 1% this week.