U.S. Stocks Lack Direction Amid Focus On Iran, SpaceX Debut

(RTTNews) - Stocks have shown a lack of direction over the course of the trading day on Friday, with the major averages bouncing back and forth across the unchanged after ending the previous session sharply higher.

Currently, the major averages are turning in a mixed performance on the day. While the Nasdaq is down 87.98 points or 0.3 percent at 25,721.68, the S&P 500 is up 2.94 points or less than a tenth of a percent at 7,397.24 and the Dow is up 194.97 points or 0.4 percent at 51,043.72.

The choppy trading on Wall Street comes as traders keep an eye on developments in the Middle East amid conflicting comments from President Donald Trump.

Trump called off a previously announced attack on Iran on Thursday and signaled that a peace deal was near, triggering the rally by stocks.

In a post on Truth Social this morning, however, Trump claimed terms of the deal leaked by Iran have "NOTHING to do with the terms that were agreed to, in writing."

Trump also referred to the Iranians as "very dishonorable people to deal with," adding, "With them, there is no such thing as dealing in good faith."

Reports have indicated the U.S.-Iran memorandum of understanding calls for the Strait of Hormuz to be reopened immediately without tolls and for Iran to receive sanctions relief based on compliance.

The deal would also reportedly extend the ceasefire for 60 days, including in Lebanon, with nuclear negotiations set be held during that time.