S&P futures advanced in early trading on Friday, suggesting that Wall Street was set to wrap up a successful week, despite heightened volatility. Futures linked to the Dow Jones Industrial Average rose by 124 points, reflecting a 0.25% increase. S&P 500 futures increased by 0.18%, whereas Nasdaq 100 futures rose by 0.27%.

The S&P 500 has risen by 0.5% week to date, even amidst heightened market volatility, setting the stage for its eighth consecutive weekly gain. That would signify the most extended period since a nine-week winning streak that ended in late 2023. The Dow has increased by 1.5% this week and is poised to achieve its third positive week in four. The Nasdaq Composite has increased by 0.3%, setting the stage for its seventh weekly gain in the last eight weeks.

Volatility surged this week as investors contended with a notable increase in long-term Treasury yields. The 30-year Treasury yield rose above 5.19% earlier this week, reaching its highest level since before the financial crisis, before retreating to 5.09% on Thursday. Oil prices have shown volatility as traders evaluate the possible consequences of a resolution to the U.S.-Iran conflict. On Friday, both Brent and WTI saw an uptick of around 2%.

“Our view on Iran remains unchanged: a deal is more probable than not, yet this expectation is already reflected in the market, and the ongoing conflict will likely contribute to stagflationary pressures for at least the upcoming quarters,” Adam Crisafulli stated in a note. President Donald Trump is expected to officially designate Kevin Warsh as the new leader of the Federal Reserve, succeeding Jerome Powell, during a ceremony set for Friday.