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Stock Market Today: Wall Street Set To Extend Rally As Trump Says Iran War May End 'Pretty Soon'- Netflix, State Street, Truist In Focus (UPDATED)

Stock Market Today: Wall Street Set To Extend Rally As Trump Says Iran War May End 'Pretty Soon'- Netflix, State Street, Truist In Focus (UPDATED)

Benzinga 3 weeks ago

(Editor's note: The futures moves, ETFs data and the stocks in focus section were updated to include the latest information)

U.S. stock futures moved higher early Friday, as investors built on recent optimism that tensions in the Middle East may be easing.

Stocks In Focus

Netflix

  • Shares of Netflix Inc (NASDAQ:NFLX) fell 9.6% on Thursday after the streaming giant issued a tepid forecast and said co-founder and chairman Reed Hastings would step down from the board in June. The stock is extending those losses and was last down 9.94% at $97 in pre-market trading on Friday
  • Benzinga's Edge Stock Rankings indicate that NFLX maintains a strong price trend in the short and medium terms, with a solid growth and quality score.

Truist Financial

  • Shares of Truist Financial Corporation(NYSE:TFC) were down 1.05% in trading before the bell on Friday, as the lender reported first-quarter results.
  • Benzinga's Edge Stock Rankings indicate that TFC maintains a strong price trend in the short, medium and long terms, with a solid growth and momentum score.

State Street Corp

  • Shares of State Street Corp(NYSE:STT) were up 0.88% in pre-market trading on Friday, as the financial services firm reported first-quarter results.
  • Benzinga's Edge Rankings show strong price trends and a solid momentum and growth score, but a weak quality ranking.

Microsoft

  • Shares of software giant Microsoft Corp (NASDAQ:MSFT) rose over 3.5% in premarket trading on Friday, putting the stock on track for a full week of gains, as momentum in megacap tech and improving sentiment around Azure and earnings continue to support the move.
  • Benzinga Edge Rankings show strong growth and quality for the stock, but weak momentum and value, with only a short-term positive price trend, while medium and long-term outlooks remain negative.

Cues From Last Session

On Thursday, corporate earnings and outsized moves in select stocks dominated trading. Gains in PepsiCo(NYSE:PEP) contrasted with sharp declines in Abbott Laboratories(NYSE:ABT) and Charles Schwab(NYSE:SCHW), while Netflix slipped in late trading following its results.

IndexPerformance (+/-)Value
Dow Jones0.24%48,578.72
S&P 5000.26%7,041.28
Nasdaq Composite0.36%24,102.70
Russell 20000.22%2,719.60

Upcoming Economic Data

There is no economic data scheduled for Friday.

Commodities, Crypto, And Global Equity Markets

WTI Crude oil futures were trading lower in the early New York session by about 3.3% to hover around $91.4 per barrel. International benchmark Brent crude fell 2.6% to $96.7 per barrel at last check.

Gold Spot US Dollar rose held steady at around $4,795.34per ounce at last check. Its last record high stood at $5,595.46 per ounce. The U.S. Dollar Index spot was down 0.12% at the 98.09 level.

Meanwhile, Bitcoin(CRYPTO: BTC) was last exchanging hands at a 1.22% higher price of $75,721.23, as per the last 24 hours.

Asian markets mostly fell on Friday in stark contrast to Wall Street's record rally, on cautious optimism over the Middle East conflict. Japan's Nikkei 225, Hong Kong's Hang Seng, South Korea's Kospi, Mainland China's CSI 300, and Australia's ASX 200 fell. However, India's NIFTY 50 ticked higher. European markets were mostly in the green.

Image via Shutterstock

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Disclaimer: This content has not been generated, created or edited by Dailyhunt. Publisher: Benzinga