The S&P 500 and the Nasdaq were set to open higher Friday as renewed hopes for U.S.-Iran negotiations to end the war lifted sentiment, while a surge in Intel shares added further support.

Iranian Foreign Minister Abbas Araqchi is expected to arrive in Islamabad on Friday night with a small team, and ‌peace talks with the U.S. are likely to take place, a Pakistani source said.

The reprieve comes at ​the end of a week that hasso far been overshadowed by a stalemate between Washington and Tehran, which saw the U.S. maintaining its naval blockade of Iranian ports while Iran seized ships ⁠attempting to pass through the Strait of Hormuz.

"We are past peak uncertainty. The most gutsy traders went in ​first and now the FOMO traders are jumping in," said Mark Malek, chief investment officer at Siebert Financial, referring to ⁠the "fear of missing out" that has drawn some traders off the sidelines.

Strong earnings from a series of corporations also offered some support. Yet with the results taking into account just one month of the war disruption, some investors have questioned how reliable they are as a guide to ‌what lies ahead.

At 8:56 a.m. EST, Dow E-minis were down 81 points, or 0.16%, S&P 500 E-minis ​added 21.50 points, ‌or 0.30%, and Nasdaq 100 E-minis gained 316.50 points, or 1.18%.

Oil prices remain the biggest source of uncertainty, as Brent crude futures are still around 44% above pre-war levels ‌because of disruption in the crucial Strait of Hormuz shipping route.

Still, some see the pullback as a buying opportunity, arguing that valuations have become more compelling.

The S&P 500 and the Nasdaq Composite have hit record highs in ⁠recent days on the belief that the economic fundamentals ‌remain solid despite the war.

"Strong market entry ⁠points are rarely found during moments of comfort or clarity. Instead, the most attractive buying opportunities are typically associated with periods of market stress," said ⁠Jeff Schulze, ⁠head of economic and market strategy at ClearBridge Investments.

Intel jumped 27.6% premarket after forecasting second-quarter revenue above estimates. Rival AMD rose 11.9%. Comfort Systems gained 6.5% after the construction firm's ‌first-quarter revenue topped estimates.

Online education platform Coursera slipped 12.4% after its first-quarter results.

DeepSeek, the Chinese artificial intelligence startup whose low-cost model stunned the world last year, launched a preview of its highly awaited new model adapted for Huawei chip technology,

But the U.S. ‌stocks battered by ​the model last year appeared to be ‌holding up relatively well. ChatGPT-backer Microsoft was up 1.2%, and chip designer Marvell Technology rose 3.7%.

Investors are also awaiting the Federal Reserve policy meeting next week, for commentary from policymakers on the effects of elevated ​energy prices on the world's largest economy and how it is shaping the central bank's outlook.

Traders see a 99.5% chance that interest rates will remain unchanged, according to data compiled by LSEG.