American stock exchanges posted significant gains on Friday. By the close of trading in New York, the Dow Jones Industrial Average stood at 49,447 points, representing a gain of 1.8 percent compared to the previous business day. Earlier, the broader S&P 500 was up 1.2 percent, measuring around 7,126 points, while the tech-focused Nasdaq 100 was up 1.3 percent, tallying approximately 26,672 points.
Market participants reacted with relief on Friday due to signals suggesting potential progress in negotiations between Iran and the United States. Specifically, Iran announced it would lift the blockade of the Strait of Hormuz for the duration of a ceasefire in Lebanon. Additionally, U.S. President Donald Trump stated that the United States should receive Iranian uranium. However, Iran denied any plans to transfer highly enriched uranium.
In currency markets, the common European currency was slightly weaker by Friday evening. The Euro cost 1.1768 US dollars, meaning the dollar was valued at 0.8498 euros.
Conversely, the price of gold benefited considerably, trading at $4,853 per fine ounce by the evening, marking a 1.3 percent increase. This equates to a price of 132.58 euros per gram.
Meanwhile, oil prices dropped sharply. A barrel of Brent crude from the North Sea cost $90.63 at around 10 PM German time on Friday, which was 8.8 percent lower-or 876 cents-than the closing price of the previous day.
