Traders work on the floor of the New York Stock Exchange (NYSE) on July 09, 2026, in New York City. <\/p>\n
Spencer Platt | Getty Images<\/p>\n
The S&P 500<\/a> was relatively unchanged on Friday after a strong Wall Street session that put the index on track for weekly gains.<\/p>\n The broad market index traded up 0.1%, while the tech-heavy Nasdaq Composite<\/a> slipped 0.2%. The 30-stock Dow Jones Industrial Average<\/a> rose 78 points, or 0.2%. <\/p>\n The S&P 500 is pacing for a nearly 1% advance on the week. The Nasdaq Composite is also poised to finish the period higher, tracking for a gain of more than 1%. The Dow, on the other hand, has fallen less than 1% this week.<\/p>\n U.S. stocks rallied on Thursday, aided by cooling oil prices<\/a> after President Donald Trump<\/a> said that Iran called to make a deal<\/a>. Qatar and Pakistan are trying to bring Washington and Tehran back into negotiations, officials from the countries told MS Now. <\/p>\n An administration official said the two sides will continue “technical talks”<\/a> even following air attacks from both sides, MS Now reported Thursday, adding that the U.S. is committed to finding a solution to the Middle East conflict.<\/p>\n This comes after Trump said earlier this week that the ceasefire between the U.S. and Iran was over<\/a>.<\/p>\n “The muted stock market reaction to the re-escalation of Iran tensions this week is prime evidence that the market is looking past geopolitical tensions,” said Clark Bellin, president and chief investment officer at Bellwether Wealth.<\/p>\n Chip stocks were weak ahead of the U.S. debut<\/a> of South Korean chipmaker SK Hynix on the Nasdaq Friday. The company, which exploded higher this year on the massive demand for memory, is pricing its American depository receipts at $149 each<\/a>. Some traders worry the new offering may compete for investor funds with U.S. memory stocks like Micron Technology<\/a>.<\/p>\n Micron shed around 3%, while Marvell Technology<\/a> and Lam Research<\/a> dropped more than 1%. Intel<\/a> fell nearly 3%. Broadcom<\/a> was also among those trading in negative territory. The iShares Semiconductor ETF<\/a> and the VanEck Semiconductor ETF<\/a> declined by 1.2% and 0.8%, respectively.<\/p>\n Meta Platforms<\/a> was a bright spot in tech during the session, however. The stock jumped around 6% after Bank of America maintained its buy rating of the name. The firm said an internal memo that was reviewed by Reuters suggests that Meta is potentially improving its artificial intelligence cost structure.<\/p>\n Positive momentum for chipmakers have helped bolster the major U.S. averages, with many investors remaining hopeful that strong earnings growth can help the stock market broaden out beyond tech and continue its upward advance.<\/p>\n That sentiment carried over into Asia-Pacific equity markets on Friday, with South Korean stocks leading gains in the region. South Korea’s Kospi<\/a> added 2.5%, while Japan’s Nikkei 225<\/a> closed 1.2% higher. Mainland China’s CSI 300 closed 1.96% lower, dragged by the technology and industrials sectors.<\/p>\n