US sharemarkets finished higher on Friday, led by gains in major technology stocks as Nvidia and Meta Platforms helped offset lingering concerns over the outlook for artificial intelligence spending.
The S&P 500 rose 0.42% to 7,575.39, while the Nasdaq Composite added 0.29% to 26,281.61. The Dow Jones Industrial Average gained 149.60 points, or 0.29%, to 52,637.01.
Nvidia climbed around 4%, while Meta surged about 6% after Bank of America reaffirmed its buy rating, citing signs the company is improving the cost efficiency of its artificial intelligence investments. Meta ended the week up almost 15%, its strongest weekly performance since early 2024.
The S&P 500 and Nasdaq each gained more than 1% over the week, while the Dow slipped 0.5%.
Elsewhere, South Korean memory chipmaker SK Hynix jumped more than 13% in its Nasdaq debut after pricing its US listing at US$149 a share.
Investor sentiment was initially supported by easing oil prices after reports that US and Iranian officials would continue technical talks despite recent military exchanges.
However, market confidence was shaken over the weekend after President Donald Trump threatened further strikes on Iran, prompting Tehran to declare it was closing the Strait of Hormuz once again. The move raises fresh concerns over global energy supplies and inflation.
Brent crude ended Friday around US$76 a barrel after retreating from recent highs, while gold fell as investors weighed the prospect of higher interest rates if energy-driven inflation persists.
Australian Market Outlook
Australian shares had been set to open higher following gains on Wall Street, supported by strength in technology stocks and optimism surrounding artificial intelligence.
At Friday’s US close, S&P/ASX 200 futures were pointing to a gain of 43 points, or 0.5%, to 8,814.
However, renewed geopolitical tensions over the weekend are likely to dominate sentiment at Monday’s open after Iran announced the closure of the Strait of Hormuz in response to fresh US military action. The latest developments have increased uncertainty for global markets and could drive renewed volatility in energy prices.
