Dow and S&P 500 Rise as Easing Middle East Tensions Boost Markets

The Dow and S&P 500 indices rose at midday on Friday due to easing tensions in the Middle East. The Dow gained 0.7% while the S&P 500 climbed 0.6%. Brent crude oil prices dropped 4% to $95 per barrel following reports that Pakistan is exploring U.S.-Iran peace negotiations with Chinese backing.

The rally on Friday came after a week of market volatility, with oil prices remaining elevated despite the pullback. The Iranian conflict has been weighing heavily on global markets, and the possibility of diplomatic progress has provided some relief to investors. However, tensions remain high, with U.S. forces continuing their strikes against Iranian targets.

Meanwhile, American Express reported a 5.9% price drop after beating earnings estimates and raising full-year revenue guidance. The company's profit margins will compress slightly in the second half due to increased investment in cardholder perks and growth initiatives.