GLOBAL MARKETS-US, European stocks wobble as markets watch for signs of progress in Middle East peace

* Markets fluctuate between peace talks and corporate interests

* Oil was mixed as investors weighed continued supply disruptions against signs of continued peace talks

* Dollar is set for weekly profit (Updates on US markets are open)

NEW YORK, April 24 (Reuters) – Wall Street stocks were mixed and European shares were lower on Friday as investors monitored the fragile US-Iran deal and weighed firm corporate earnings against downside guidance due to war-related energy price shocks.

Tech shares, boosted by strong results from Intel, helped propel the Nasdaq higher, while the S&P 500 was modestly green. The Dow was in the wrong place.

This week, the S&P 500 and Nasdaq appeared set to enter gains, while the blue-chip Dow was poised to register a decline from last Friday’s close. Still, the S&P 500 and Nasdaq continued to hover near record highs.

“What has dominated the last two weeks is income,” said Jay Hatfield, CEO of Infrastructure Capital Management in New York. “And after that, the resolution of the war.”

“Yesterday the market tried to sell because of news about the war and then it went back,” said Hatfield. “Today, there is good news that the foreign minister is in Pakistan, and the market does not agree with that.”

Peace talks between the United States and Iran may resume soon in Pakistan, where Iranian Foreign Minister Abbas Araqchi was due to arrive on Friday night, according to Pakistani sources.

Additionally, the Israel-Lebanon ceasefire was extended for three weeks following a high-level meeting at the White House, according to US President Donald Trump.

Oil prices were volatile as supply concerns dampened optimism about US-Iran peace talks.

US crude fell 1.12% to $94.78 a barrel and Brent fell to $104.70 per barrel, down 0.36% on the day.

FIRM COMPANY FINANCES MANAGED BY THE DOUR SYSTEM

The first quarter reporting season is in full swing, as 139 of the companies in the S&P 500 have reported. Of those, 81% have failed earnings estimates. Analysts now see year-over-year earnings growing 16.1%, down from the 14.4% growth expected at the start of the quarter, according to LSEG I/B/E/S.

But in analyst conference calls, CEOs are increasingly giving guidance because of fuel costs caused by the Iran war. Consumer products company Procter & Gamble warned in its Friday earnings call that it expects a roughly $1 billion hit to its fiscal 2027 profit due to a war-related energy price shock.

Next week, there are plenty of high-profile earnings on the docket, including tech megacaps and tech closers Amazon, Alphabet, and Meta Platform. Oil majors Exxon Mobil and Chevron are expected to report next Friday.

The Dow Jones Industrial Average fell 151.44 points, or 0.31%, to 49,157.80, the S&P 500 rose 22.81 points, or 0.32%, to 7,131.21 and the Nasdaq Composite rose 197.28 points, 511.61,61.

European stocks fell on Friday and were poised to post their first five-week losses as investors worried about an inflationary shock from energy disruptions due to unrest in the Middle East.

The MSCI gauge of global shares rose 2.05 points, or 0.19%, to 1,069.36.

The pan-European STOXX 600 index fell by 0.49%, while the broader European FTSEurofirst 300 index fell by 10.77 points, or 0.44%.

Emerging market stocks rose 12.17 points, or 0.76%, to 1,611.48. MSCI’s broad index of Asia-Pacific shares outside Japan closed up 0.77%, to 825.44, while Japan’s Nikkei rose 575.95 points, or 0.97%, to 59,716.18.

The dollar fell but pared weekly gains as war uncertainty kept investors on edge.

The dollar index, which measures the greenback against a basket of currencies including the yen and the euro, fell 0.23% to 98.59, with the euro up 0.26% at $1.1713.

Against the Japanese yen, the dollar fell 0.19% to 159.41.

In cryptocurrencies, bitcoin gained 0.09% to $77,994.26. Ethereum fell 0.47% to $2,315.37.

The yield on the benchmark US 10-year yield fell 1.7 basis points to 4.306%, from 4.323% late Thursday.

The 30-year bond yield fell 1 basis point to 4.9081% from 4.918% late Thursday.

The yield on the 2-year note, which usually moves in line with the Federal Reserve’s expected interest rate, fell 4.3 basis points to 3.783%, from 3.825% late Thursday.

Gold advanced but remained on course for weekly losses as inflation worries persisted amid unrest in the Middle East. Local gold rose 0.81% to $4,730.84 an ounce. US gold futures rose 0.03% to $4,706.70 an ounce.

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