By Caitlin McCabe

Investors around the world are in good spirits Friday morning, setting the S&P 500 on track to rise for its eighth straight week.

U.S. stocks opened higher, bolstered by continued enthusiasm surrounding AI, aerospace and other emerging tech. That is likely to send the S&P 500 to its longest winning streak since December 2023. Indexes in Asia and Europe also climbed.

The optimism in equities comes despite an uncertain backdrop surrounding the conflict in the Middle East, with media reports about a potential deal between the U.S. and Iran sending oil prices and government bonds swinging in the past day or so. Brent crude futures were a little higher at around $103 a barrel. The 10-year Treasury yield is retreating.

Meanwhile, traders are watching the yen, which has weakened to trade above 159 yen per dollar-not far from levels where Japanese authorities have previously intervened to defend the currency. Elsewhere in Japan, SoftBank Group's shares surged again, bringing its two-day gain to 34%, amid enthusiasm over its AI bets.

Write to Caitlin McCabe at caitlin.mccabe@wsj.com

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(END) Dow Jones Newswires

May 22, 2026 09:46 ET (13:46 GMT)

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