U.S. stocks rose on Friday, with lower oil prices outweighing the impact of weaker consumer confidence. According to Sina Finance, the S&P 500 gained 0.5% and the Nasdaq 100 rose 0.4%.

Most of the gains came after reports that Iran had set conditions for reopening the Strait of Hormuz to the United States, sending Brent crude down 2.1% to $104 a barrel. The University of Michigan said on Friday that U.S. consumer confidence fell in September to a four-month low, briefly pressuring stocks before those concerns faded.

The 10-year U.S. Treasury yield eased slightly after rising sharply on Wednesday and Thursday. According to Sina Finance, Miller Tabak & Co. chief market strategist Matt Maley said lower oil prices helped stocks ignore the impact of further increases in long-term rates this week.

According to Sina Finance, citing people familiar with the matter, the Federal Reserve is studying whether to raise the asset-size threshold that triggers stricter oversight for large banks. Bank shares had a weak week and entered technical correction territory.

Meta shares have surged this month and are on track to join the group of companies with market values of at least $2 trillion. Citi Global Markets strategist Dirk Willer and others wrote in a report that they remain bullish on the U.S. market because the AI narrative remains strong.

Traders increased bets on a Fed rate hike at the October meeting, and New York Fed President John C. Williams said on Friday that the central bank cannot ignore price effects from supply shocks. At the close, the S&P 500 rose 0.5% to 7,743.41, the Dow Jones Industrial Average gained 0.9% to 51,828.62, the Nasdaq Composite rose 0.5% to 27,068.72, the Nasdaq 100 added 0.4% to 30,608.13, and the Russell 2000 climbed 0.1% to 2,837.552.