Fixes S&P 500 Tech Sector RIC to .SPLRCT

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WALL STREET RISES ON AI OPTIMISM, IRAN DEAL HOPE

Wall Street advanced on Friday, buoyed by growing optimism over artificial intelligence-driven economic growth and mounting hopes for a U.S.-Iran nuclear deal that could ease tensions in the Middle East.

Improving economic sentiment has lifted risk appetite in recent weeks, while signs that Washington and Tehran are edging toward an agreement -- one that could reopen the Strait of Hormuz and curb Iran's nuclear ambitions -- added further momentum.

U.S. President Donald Trump said he would decide on Friday whether to extend the ceasefire.

But the rally's foundations are showing cracks. Market breadth has lagged the headline gains, a sign that fewer stocks are doing the heavy lifting -- a pattern that has historically preceded pullbacks.

Meanwhile, traders are keeping a wary eye on oil prices, which have climbed on Middle East uncertainty. If crude stays elevated, it risks feeding through to core inflation and complicating the Federal Reserve's path, potentially delaying rate cuts or, in a worst-case scenario, reviving talk of hikes.

For now, bulls retain the upper hand. AI enthusiasm continues to draw fresh money into equities, corporate earnings have broadly surprised to the upside, and the prospect of a geopolitical breakthrough has given investors one more reason to stay in the game.

Among Friday's record closing highs were the S&P 500, the Nasdaq Composite .IXIC, the Dow Jones Industrial Average .DJI, the S&P 500 Tech Sector .SPLRCT, the S&P 500 Growth Index .IGX, and the S&P 500 Equal Weighted Index .SPXEW.

The S&P 500 .SPX has now risen nine straight weeks -- a feat last achieved in December 2023.

For the month, the S&P 500 gained about 5.2%, the Nasdaq Composite rallied 8.4%, and the Dow gained 2.8%.

Here is Friday’s closing market snapshot:

(Karen Brettell, Terence Gabriel)

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EARLIER ON LIVE MARKETS:

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CAUTIOUS RISK-ON: BIG FUNDS CREEP BACK IN CLICK HERE

FRI-DATA: TRADE DEFICIT NARROWS, INVENTORIES GROW, MIDWEST FACTORY ACTIVITY GOES TO THE RACES CLICK HERE

WALL STREET RISES ON US-IRAN DEAL HOPES; TECH LEAPS, STAPLES LAG CLICK HERE

S&P 500 HITS FRESH HIGHS AS MOMENTUM BUILDS, BREADTH LAGS CLICK HERE

ASIA'S "EXPORT ENGINE" IS POWERING ON...OR IS IT? CLICK HERE

HOW TO BE EXPOSED TO A URANIUM PRICE UPCYCLE CLICK HERE

EUROPE'S NEXT POLITICAL PROBLEM CHILD? CLICK HERE

WHY CHINA’S BONDS ARE AMONG THE BEST WAR HEDGES CLICK HERE

STEADILY RISING CLICK HERE

BEFORE THE BELL: CAUTION PREVAILS CLICK HERE

ANOTHER DAY, ANOTHER IRAN DEAL MOMENT CLICK HERE

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