S&P 500 (SPY), DJIA And Nasdaq (QQQ) Close Higher As Iran Tensions And Bitcoin Surge Drive Session

The S&P 500 Index ($SPX) (NYSE: SPY) closed up +0.43% on Friday, while the Dow Jones Industrial Average ($DOWI) (NYSE: DJIA) gained +0.98% and the Nasdaq 100 Index ($IUXX) (NASDAQ: QQQ) added +0.33%.

Stock indices settled higher as crude oil prices stabilized after pulling back from Thursday’s one-month high, briefly easing inflation concerns across markets.

Iranian President Masoud Pezeshkian’s call to end the US-Iran war helped ease crude price pressure, with the October WTI crude oil contract settling only slightly higher on Friday.

Pezeshkian stated, “It would be better to end the war today, now that we are strong and have dignity, with the whole world acknowledging our victory.”

US Treasury Secretary Bessent said the administration would announce its plan to isolate Iran and its trading partners on Monday, with markets watching the press conference closely.

President Trump said he is not interested in extending the expired agreement with Iran, dimming prospects for a swift reopening of the Strait of Hormuz.

Trump also stated the US naval blockade on Iranian ports is exerting pressure on the country, and that he has no timeline for resolving the conflict.

An Iranian military spokesperson said no ship can safely pass the Strait of Hormuz without Iran’s authorization, calling Trump’s claims of control over the strait “nothing more than lies.”