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Dow Jones steadies after second ceasefire collapse, but weekly loss looms
The index last traded at 52,609, down on the week by just under 1%, even as the US and Iran both escalated actions around the Strait of Hormuz.
The Dow Jones Industrial Average traded at 52,609 on Friday, up 0.26%, after the US-Iran ceasefire was declared effectively ended for a second time within days. The move came after a record 53,333 earlier in the run and a brief morning dip to 52,410, leaving the blue-chip index on track to give up just under 1% for the week. FXStreet said President Trump declared the ceasefire over on Wednesday, after Tehran attacked commercial vessels in the Strait of Hormuz, and then repeated the claim in a Friday social media post. Iranian sources also rejected rumors of a new round of talks scheduled for next week, while Qatar and Pakistan were reported to be working with both capitals and Washington said technical talks were still ongoing behind the scenes. While the market reaction has been muted, the outlet pointed to real-world escalation: US forces struck Iranian targets more than 170 times across two days, Iran responded with ballistic missiles fired at a base in Jordan, and attacks on commercial shipping slowed tanker traffic through the Strait. FXStreet noted equities appeared to stop repricing for the conflict after the first shock, with the second collapse drawing a smaller risk premium than the prior one.
SK Hynix also drove stock-specific momentum on Friday, with the company opening its American depositary receipts at $170 versus a $149 pricing in a $26.5 billion raise, and trading up about 14% mid-session. The debut was cited as rattling other US-listed memory-related names, with Micron down more than 1% and Marvell and Intel down more than 2% each, while Nvidia rose more than 3% and Meta jumped 6% on reporting that its AI cost structure is improving.
Latest closeDow Jones 52,487.41 ▲0.3%