Akamai Jumps On OpenAI Deal, 30-Year Yields Top 5.5%: Stock Market Today

U.S. stocks traded mixed but mostly higher at midday Friday as crude oil retreated on hopes for an Iran-brokered reopening of the Strait of Hormuz, even as Treasury yields pushed toward their highest level since 2007 after this week’s Trump-Xi trade summit.

Washington and Beijing extended their trade truce without announcing new tariffs.

• Meanwhile, Tehran’s offer to reopen the Strait of Hormuz within seven days comes with conditions Washington has not yet confirmed it will meet. That was enough to pull crude off its highs and support risk appetite early on, although momentum cooled into midday trading as the fine print on both the Iran offer and the China trade truce remained unresolved.
• West Texas Intermediate crude fell 1.6% to $93.06 a barrel by midday.
• The 10-year Treasury yield ticked up 2 basis points to 5.22%, hovering near its highest level since 2007 after this week’s climb. The 2-year yield eased to 4.90%, while the 30-year rose to 5.53%.
• The S&P 500 added 4.47 points, or 0.1%, to 7,708.60, while the Dow Jones Industrial Average rose 125.67 points, or 0.2%, to 51,475.65.
• The Nasdaq 100 slipped 19.04 points, or 0.1%, to 30,459.82. Within Magnificent Seven stocks, Meta Platforms Inc. (NASDAQ:META) rose roughly 4% as analysts lifted price targets on enthusiasm for its newly launched Muse AI agent, while the rest of the mega-cap cohort traded in a narrow range.
• The Russell 2000 lagged, down 7.74 points, or 0.3%, to 2,827.83.

Friday’s Performance In Major US Indices

Index	Last	% Change	MTD	YTD
S&P 500	7,708.60	+0.06%	+0.43%	+16.03%
Dow Jones	51,475.65	+0.24%	-3.72%	+11.31%
Nasdaq 100	30,459.82	-0.06%	+4.23%	+24.31%
Russell 2000	2,827.83	-0.27%	-5.92%	+16.17%

According to the Benzinga Pro platform:

• The Vanguard S&P 500 ETF (NYSE:VOO) edged up 0.1%.
• The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) rose 0.2%.
• The Invesco QQQ Trust (NASDAQ:QQQ) slipped 0.1%.
• The iShares Russell 2000 ETF (NYSE:IWM) declined 0.3%.

Akamai’s Anthropic Megadeal Headlines A Choppy, Yield-Driven Session

The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) rose 0.4% even as Nike weighed on the group, with strength elsewhere in consumer names offsetting the drag.

The Communication Services Select Sector SPDR Fund (NYSE:XLC) also outperformed, lifted by Meta’s gain.

Cloud-infrastructure and AI-data-center names were the session’s most volatile corner of the market following Akamai’s blockbuster deal with Anthropic.

Akamai Technologies Inc. (NASDAQ:AKAM) surged as much as 15% intraday after Anthropic committed to an $11.6 billion, seven-year cloud-infrastructure deal, though shares pared part of the gain as investors weighed the roughly $5.5 billion in capital expenditures Akamai will front ahead of that revenue.

The deal also lifted infrastructure peers CoreWeave Inc. (NASDAQ:CRWV), up 3.7% on sympathy buying, and Cloudflare Inc. (NYSE:NET), up 1.8%.

Dell Technologies Inc. (NYSE:DELL) climbed 5.0% as it rebounded from Thursday’s selloff, after Oracle Corp. (NYSE:ORCL) said its delayed New Mexico data-center project “remains on our planned schedule,” easing fears that the slippage would disrupt Dell’s server and AI-rack shipments to Oracle Cloud Infrastructure.

Meta’s roughly 4% gain came from the same story pressuring one of the session’s biggest losers: Twilio Inc. (NYSE:TWLO) slid 5.9% after HSBC downgraded the stock to Reduce, arguing the market’s “Muse rally has gone too far” amid doubts about near-term AI monetization for communications-software names.

On the Downside

Zscaler Inc. (NASDAQ:ZS) tumbled 8.7%, even after beating fiscal fourth-quarter estimates — adjusted EPS of $1.19 versus $1.08 expected, revenue of $898.2 million versus $877.4 million expected — and guiding fiscal 2027 EPS and revenue above consensus.

GameStop Corp. (NYSE:GME) fell 8% despite CEO Ryan Cohen‘s $26 million insider stock purchase disclosed earlier in the week. With no fresh negative catalyst in the tape, the move looks like profit-taking after the stock’s roughly 29% rally over the past month.

The Mosaic Company (NYSE:MOS) declined 3.9% on no confirmed catalyst, with shares continuing to swing alongside broader volatility in potash and fertilizer markets this week.

 Nike Inc. (NYSE:NKE)  declined 2% to $35.18 after Bank of America downgraded the stock to Underperform and cut its price target to $30, citing a turnaround now pushed out roughly 12 months by weak North America wholesale trends, China demand softness and elevated inventory.

Peers Dick’s Sporting Goods Inc. (NYSE:DKS) rose 2% and On Holding AG (NYSE:ONON) was little changed, a sign Nike’s troubles remain brand-specific rather than category-wide.

Friday’s Russell 1000 Top Gainers

Name	% change
Akamai Technologies	+15.0%
Dell Technologies	+5.0%
Meta Platforms	+4.0%
CoreWeave	+3.7%
Cloudflare	+1.8%

Friday’s Russell 1000 Top Losers

Name	% change
Zscaler	-8.7%
GameStop	-8.0%
Twilio	-5.9%
The Mosaic Company	-3.9%
Nike	-2.0%