Stock market today: Wall Street opens higher as it heads for a winning week

NEW YORK — Stocks are opening higher on Wall Street, keeping the market on track for its fifth gain in a row. The S&P 500 was up 0.1% in early trading Friday. The Dow Jones Industrial Average climbed 65 points, or 0.1%, and the Nasdaq composite edged up 0.1%. Gap soared 9% after reporting quarterly results that easily beat analysts’ estimates. EchoStar, parent company of the Dish satellite television provider, sank 8% after DirecTV called off its purchase of the company.

Geopolitical tensions pushed oil prices higher. On Thursday, President Vladimir Putin further escalated the war, announcing that Russia had fired a new intermediate-range ballistic missile at Ukraine in response to Kyiv’s use this week of American and British missiles capable of reaching deeper into Russia.

The index tracking the semiconductor sector fell 4%, and shares of Empyrean Technology Co., China’s leading electronic design automation developer, sank 8.2% on Friday. Hong Kong-listed shares of Semiconductor Manufacturing International Co., the largest semiconductor foundry company in mainland China, lost 6.7%.Bitcoin eclipsed $99,000 for the first time Thursday before pulling back toward $98,000, according to CoinDesk.

Nvidia rose just 0.5% after beating analysts’ estimates for profit and revenue yet again, but it was still the strongest force pulling the S&P 500 upward. It also gave a forecast for revenue in the current quarter that topped most analysts’ expectations due to voracious demand for its chips used in artificial-intelligence technology.

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