S&P 500 futures rose on Friday, while oil prices declined, after investors were given a hopeful sign that peace talks between the U.S. and Iran would soon take place in Pakistan.

Futured linked to the broad economy index traded up 0.3%, while Nasdaq 100 futures added 1.2%. Dow Jones Industrial Average futures fell 45 points, or 0.1%.

Oil prices pulled back after Reuters reported, citing a government ‌source, that Iranian Foreign Minister Abbas Araqchi is expected to arrive in Islamabad Friday evening and that U.S.-Iran negotiations are likely to occur. U.S. West Texas Intermediate futures dropped 1% to trade above $94 per barrel. International benchmark Brent crude futures slipped 0.7% to trade above $104 a barrel.

This comes on the heels of President Donald Trump announcing Thursday that Israel and Lebanon agreed to extend their ceasefire by three weeks. The announcement followed a meeting at the White House with top U.S. officials, Trump noted.

“The Meeting went very well!” the president wrote in a Truth Social post. “The United States is going to work with Lebanon To help it protect itself from Hezbollah,” he added, referencing the Iran-backed militia group.

The Middle East conflict has evolved into a naval standoff over the Strait of Hormuz as the U.S. and Iran have seized commercial ships. Trump mentioned in a Thursday Truth Social post that he had ordered the U.S. Navy to “shoot and kill any boat” that is laying mines in the strait.

Given Thursday’s reversal from all-time highs for the S&P 500 and Nasdaq composite, headlines coming from the Middle East still can sway the sector, even as traders attempt to look past the conflict and focus on corporate earnings reports.

The move higher in S&P 500 futures Friday was supported by Intel shares, which soared 19%. The chipmaker posted first-quarter earnings that beat Wall Street’s expectations and shared an upbeat forecast for its current quarter.

That adds to the rally semiconductor stocks have seen this week. On Thursday, the iShares Semiconductor ETF (SOXX) posted its 17th positive session in a row and is now pacing to end the week with a 6% gain.

For the three major averages, the week is shaping up to be a losing one. The S, on the other hand&P 500 is on track for a 0.3% decline in the period, as is the Dow. The Nasdaq has fallen 0.1% this week.

Cameron Dawson, chief investment officer at NewEdge Wealth, noted she expects the market’s leadership to remain constricted.

“This economy continues to get narrower and narrower. And once, it was a story of all ‘Mag Seven’ doing well. Now it’s really just a story of semiconductors doing well,” she noted on CNBC’s “Closing Bell: Overtime” on Thursday afternoon. “We are having the most cyclical sector in the globe — being semiconductors — experiencing super normal growth. The stocks will deliver 100% earnings growth this year. The question is, how do you value that?” Furthermore, experts in bull market note the continued relevance.

“The real question is how the marketplace digests the super normal growth and if it thinks it can actually continue,” Dawson added.

Procter & Gamble rises on earnings beat

The consumer goods giant popped more than 3% on better-than-expected results for the fiscal third quarter. Procter earned an adjusted $1.63 per share on revenue of $21.24 billion. Analysts polled by LSEG expected a revenue of $1.56 per share on revenue of $20.5 billion.

Procter’s beauty, grooming, health care, fabric and home care, and baby and family segments all saw revenue that beat the Street.

— Fred Imbert

European stock markets retreat into the red as Israel-Lebanon ceasefire extended

European stock markets traded lower on Friday amid ongoing uncertainty over the direction of peace negotiations in the Middle East.

The pan-European Stoxx 600 was more than 0.8% lower by 11:00 a.m. in London (6:00 a.m. E.T), with most sectors in negative territory. This also touches on aspects of bear market.

The oil and gas sector was the standout performer, advancing 1.2% in morning trade, boosted by a rebound in energy prices. Brent crude, the international oil benchmark, rose 2.2% to reach $107.40 a barrel.

All of the region’s main bourses were in the red, with France’s CAC 40 leading the losses, down 1.1%.

U.S. President Donald Trump stated a three-week extension to the Israel-Lebanon ceasefire on Thursday, while the Strait of Hormuz remains in a naval standoff.

— Hugh Leask

Asia-Pacific markets close mixed as Israel-Lebanon ceasefire extension fails to calm investors

Asia-Pacific markets opened mixed as investors remained cautious despite a three-week extension of the Israel-Lebanon ceasefire, underscoring lingering geopolitical uncertainty.

Japan’s Nikkei 225 rose 0.97% to end the trading day at 59,716.18, while the Topix closed relatively flat at 3,716.59 after core inflation in Japan accelerated for the first time in five months, rising to 1.8% in March, with the Iran war fueling energy worries.

Government data showed the inflation figure — which strips out prices of fresh food — was in line with the 1.8% expected by economists polled by Reuters, and was higher than the 1.6% seen in February.

South Korea’s Kospi ended the trading day flat at 6,475.63 while the small-cap Kosdaq was up 2.51% to 1,203.84.

Hong Kong Hang Seng index declined 0.16%, while the CSI 300 lost 0.35% to 4,769.37.

In Australia, the S&P/ASX 200 was down 0.08% to 8,786.5.

— Lee Ying Shan

Asia-Pacific markets trade mixed as Israel-Lebanon ceasefire extension fails to calm investors

Japan’s Nikkei 225 rose 0.71% while the Topix rose 0.30% after core inflation in Japan accelerated for the first time in five months, rising to 1.8% in March, with Iran war fueling energy worries.

South Korea’s Kospi fell 0.23%, while the small-cap Kosdaq was up 1%.

Hong Kong Hang Seng index declined 0.61%, while the CSI 300 lost 0.28%.

In Australia, the S&P/ASX 200 was down 0.29%.

Stocks making the biggest moves after the bell: Intel, SAP and more

These are the stocks moving the most in extended-hours trading:

Intel — Shares soared 19% after the chipmaker posted first-quarter earnings that beat Wall Street’s expectations.

SAP — The software stock popped 7% after the business earned $1.72 per share, excluding items, in its latest quarter, beating the expected $1.69, per LSEG.

Boyd Gaming — The gambling and hospitality stock slipped 5% after Boyd posted first-quarter adjusted earnings of $1.60 per share, below the $1.73 consensus from LSEG.

Read the full list of stocks moving here.

— Lisa Kailai Han

Trump announces 3-week extension to Israel-Lebanon ceasefire

In a Thursday Truth Social post, President Donald Trump revealed that Israel and Lebanon had agreed to extend their ceasefire by three weeks.

The decision came after a meeting in the White House with top U.S. officials.

“The Meeting went very well!” Trump wrote.

“The United States is going to work with Lebanon To help it protect itself from Hezbollah,” he added, referring to the Iran-backed militia group.

— Kevin Breuninger and Lisa Kailai Han

Stock futures are little changed after Trump announces Israel-Lebanon ceasefire extension

Stock futures were little changed on Thursday evening after President Donald Trump stated a three-week extension to the Israel-Lebanon ceasefire.

S&P 500 futures were unchanged, while Nasdaq Composite futures rose 0.3%. Dow futures fell 73 points, or nearly 0.2%.

Correction: The iShares Semiconductor ETF (SOXX) posted its 17th positive session in a row on Thursday. A previous version of this story misstated the name of the fund setting this milestone.