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US equity markets ended mixed on Friday as investors weighed corporate earnings against the evolving interest-rate outlook. The S&P 500 edged higher, the Nasdaq 100 fell 1.1%, and the Dow Jones Industrial Average added 236 points. Crude prices eased on the day but remained sharply higher for the week, as intensified strikes between the US and Iran disrupted tanker traffic through the Persian Gulf and the Red Sea. Treasury yields moved higher in tandem with energy prices, reflecting increased market expectations that stubborn, energy-driven inflation could prompt the Federal Reserve to raise interest rates at its meeting next week. Intel dropped 7.9% despite reporting its strongest revenue growth in 17 years, underscoring ongoing volatility in semiconductor shares after their sharp rally since the second quarter. Concerns about the durability of AI-related capital expenditure also weighed on large-cap tech, with Tesla down 2.1% and Meta off 1.8%. Elsewhere, American Express fell 4.3% after its earnings release, while Verizon gained 5.8% on stronger-than-forecast subscriber growth.
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