S&P 500 futures were relatively unchanged on Friday after a strong Wall Street session that put the index, as well as the Nasdaq Composite, on track for weekly gains. Futures tied to the broad market index traded around the flatline, while Nasdaq 100 futures declined 0.3%. Dow Jones Industrial Average futures rose 94 points, or 0.2%. The S&P 500 is pacing for a 0.8% advance on the week, while the Nasdaq Composite is tracking to finish the period with a gain of 1.5%. The Dow, on the other hand, was lower by 0.8%. U.S. stocks rallied on Thursday, aided by cooling oil prices after President Donald Trump said that Iran called to make a deal. Qatar and Pakistan are trying to bring Washington and Tehran back into negotiations, officials from the countries told MS Now. An administration official said the two sides will continue “technical talks” even following air attacks from both sides, MS Now reported Thursday, adding that the U.S. is committed to finding a solution to the Middle East conflict. This comes after Trump said earlier this week that the ceasefire between the U.S. and Iran was over. “The muted stock market reaction to the re-escalation of Iran tensions this week is prime evidence that the market is looking past geopolitical tensions,” said Clark Bellin, president and chief investment officer at Bellwether Wealth. Chip stocks were weak ahead of the U.S. debut of South Korean chipmaker SK Hynix on the Nasdaq Friday. The company, which exploded higher this year on the massive demand for memory, is pricing its American depository receipts at $149 each. Some traders worry the new offering may compete for investor funds with U.S. memory stocks like Micron Technology. Micron, Marvell Technology, and Lam Research all shed around 1% in premarket trading, while Intel fell 2%. Nvidia, Broadcom, and AMD were also among those trading in negative territory. The iShares Semiconductor ETF and the VanEck Semiconductor ETF declined by 1.1% and 0.7%, respectively. Positive momentum for chipmakers has helped bolster the major U.S. averages, with many investors remaining hopeful that strong earnings growth can help the stock market broaden out beyond tech and continue its upward advance. That sentiment carried over into Asia-Pacific equity markets on Friday, with South Korean stocks leading gains in the region. Japan’s Nikkei 225 closed 1.2% higher while South Korea’s Kospi added 2.5%. Mainland China’s CSI 300 closed 1.96% lower, dragged by the technology and industrials sectors. Treasury yields were little changed on Friday as investors monitored the latest developments in the Middle East after a U.S. official said it would continue to hold “technical talks” with Iran despite a flare-up in hostilities. The 10-year Treasury yield—the main benchmark for mortgages, auto loans, and credit card debt—rose less than 1 basis point to 4.545%. The yield on the 2-year Treasury note, which typically moves in line with short-term Federal Reserve interest rate decisions, gained more than 1 basis point at 4.179%. The longer-dated 30-year Treasury yield was seen up 1 basis point at 5.063%. Oil prices rose ​on Friday and were on track for weekly gains as renewed U.S.-Iran fighting disrupted ‌shipping in the Strait of Hormuz, stoking concerns over supply disruptions. Brent futures were up 71 cents at $77.01 a barrel. West Texas Intermediate (WTI) crude rose 64 cents, or to $72.72. For the week, Brent ​was set for a gain of about 7%, and WTI was on track for an ​increase of about 6%. “Prices have backed off the midweek highs, but there is ⁠still a substantial risk premium as Hormuz transits are back to a near-standstill with no clear ​signs of when normal reopening might resume,” said Vandana Hari at oil market analysis provider Vanda Insights. Gold prices fell on Friday, on track for a weekly decline on concerns that escalating U.S.-Iran tensions could fuel inflation and keep the U.S. Federal Reserve on a hawkish monetary policy path. Spot gold was down 0.5% at $4,101.23 an ounce and headed for a more than 1% weekly decline. U.S. gold futures for August delivery dropped 0.65% to $4,113.50. “Gold is in consolidation mode today following [Thursday’s] gains, with traders hesitant to commit to further upside amid the prevailing uncertainty over US-Iran relations,” said Tim Waterer, chief market analyst at KCM Trade.