Stocks rise as Brent falls near $98 on Strait of Hormuz hopes

  • Stocks advanced Friday as oil prices eased on Strait of Hormuz deal hopes.
  • Brent crude futures fell near $98 per barrel while the 10-year yield reached 5.17%.
  • Microsoft gained roughly 3%, while Meta declined 2% after a four-day rally.

U.S. stocks moved higher Friday as Brent crude futures fell to near $98 per barrel on hopes of a potential deal to reopen the Strait of Hormuz. The advance followed a much-anticipated dinner involving President Trump, Chinese leader Xi Jinping and technology executives including Nvidia's Jensen Huang, AMD's Lisa Su and Tesla's Elon Musk. The 10-year Treasury yield rose to 5.17%, while a softer U.S. dollar supported equities. Microsoft gained roughly 3%, while Meta fell 2% after a 16% advance over the previous four days fueled by enthusiasm for its new Muse AI agent. Yahoo Finance readers were also watching Costco, Greenland Energy and Moderna.

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