Updated 9:38 ET A.M.
Stocks opened higher as investors seemed relieved that the United States was holding off on deciding if to join Israel’s war against Iran.
At 9:50 a.m., the Standard& Poor’s 500 Index had climbed 37 points to 6017. The Dow Jones Industrial Average had jumped 241 points to 42,408.
The Nasdaq Composite Index had risen 119 points to 19,669, and the Nasdaq-100 index was up 149 points to 21,869.
President Trump said Thursday he expected to make a decision on the question within two weeks.
Trump frequently delays decisions like these. There is a split between isolationists who form the core of the MAGA side of the Republican Party and hawks who favor attacking Iran to disable the country’s nuclear ambitions.
Crude oil and gold prices were lower as war fever ebbed. Crude was off 52cents to $74.60. Gold was down $28 to $3,380.
8:51 ET. Stock futures see a rally ahead
Investors seemed relieved early Friday after President Donald Trump said he’d decide within two weeks whether to commit America to join Israel in its war against Iraq.
Oil prices were falling with crude oil down 39 cents to $73.11.
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Trump’s decision seemed to surprise many after he’d called for “unconditional surrender” from Iran over its nuclear aspirations.
But Trump ally Steve Bannon, a vocal opponent of going to war, visited the White House on Thursday.
Futures trading suggests the Standard& Poor’s 500 Index will open 8 points higher. The Dow Jones Industrial Average was looking at an opening increase of about 67 points, and Nasdaq-100 futures were up about 50 points.
U.S. markets had been closed Thursday for the Juneteenth holiday.
Shares of Accenture (ACN) were off 2% preopen even as the consulting giant reported better-than-expected earnings and revenue. Barron’s cited weak bookings and leadership changes for the decline.
Shares of supermarket operator Kroger (KR) were up 1% to $66.25. .
Building-materials supplier GMS (GMS) shares were up 27% premarket to $101 as a bidding war for the company erupted between Home Depot (HD) and Brad Jacobs’ QXO. GMS has a market capitalization of about $3.1 billion. Wall Street believes the bidding is already at $5 billion.
The 10-year note yield was up slightly at 4.436%.
