American stock markets posted significant gains on Friday. As trading concluded in New York, the Dow Jones Industrial Average reached 49,447 points, marking an increase of 1.8 percent compared to the previous trading day. Slightly earlier, the broader S&P 500 was up 1.2 percent at approximately 7,126 points, while the technology-focused Nasdaq calculated the Nasdaq 100 at around 26,672 points, up 1.3 percent.
Market participants reacted with relief to signals suggesting potential progress in negotiations between Iran and the US. Specifically, Iran announced it would lift the blockade of the Strait of Hormuz for the duration of a ceasefire in Lebanon. Furthermore, US President Donald Trump stated that the US should receive Iranian uranium. However, the Iranian side denied any transfer of highly enriched uranium.
Meanwhile, the European common currency showed some weakness on Friday evening; one Euro cost 1.1768 US dollars, meaning a dollar bought for 0.8498 Euros.
Gold prices were considerably boosted, with a fine ounce trading at $4,853 by the evening, a gain of 1.3 percent. This translates to a price of 132.58 Euros per gram.
Conversely, oil prices dropped sharply. As of around 10 PM German time on Friday, a barrel of Brent crude oil from the North Sea cost $90.63, which represented a decline of 8.8 percent, or 876 cents less than the previous day’s closing price.