Wall Street Rises as US-Iran Deal Nears; Dell Surges on AI Outlook

U.S. stocks opened higher on Friday, extending record highs, as a potential U.S.-Iran ceasefire eased energy supply fears and Dell Technologies’ blockbuster forecast highlighted surging AI demand. The Dow rose 210 points, the S&P 500 gained 0.4%, and the Nasdaq added 0.5%. The Philadelphia Semiconductor Index surged 1.3%. A draft 60-day ceasefire deal, pending President Trump’s approval, could restore shipping through the Strait of Hormuz. Brent crude fell 1.6% to near $92 a barrel, on track for its worst month since the pandemic. The 10-year Treasury yield slipped to 4.44%. Dell shares soared 34% after the company lifted its full-year adjusted EPS outlook to $17.90 on revenue of up to $169 billion, far above estimates, driven by AI server demand. Rivals Hewlett Packard Enterprise and Super Micro Computer also rallied. Analysts cautioned that oil supply recovery may take months even if a pact is struck, keeping prices elevated.