CNBC Daily Open: Dow at all-time high as Iran reviews peace deal

Hello, this is Dylan Butts writing to you from Singapore. Welcome to another edition of the CNBC Daily Open.

U.S. stocks looked poised to end the week on another upswing, with major indexes extending an impressive run. 

The S&P 500 is on track for its eighth straight weekly gain. The Dow is headed for its third positive week in four, while the Nasdaq Composite is on pace for its seventh weekly advance in the past eight weeks.

The rally comes as investors bet on progress toward resolving tensions in the Middle East. But can President Donald Trump and Terhan finally deliver on a much-anticipated peace deal?

Traders have been pricing in de-escalation in the Middle East on reports that Iran is reviewing a U.S. peace proposal, with Trump saying Thursday that he's willing to wait "a few days" for a response from Tehran. 

U.S. stock indexes closed higher Thursday, with the Dow Jones Industrial Average rising 276.31 points, or 0.55%, to a record close. 

Asia-Pacific markets opened higher Friday, tracking Wall Street as investors assessed developments in U.S.-Iran diplomacy alongside Japan's softer-than-expected April inflation data. 

Oil prices, however, remained volatile, resuming their rally after three straight sessions of declines as investors weighed mixed messaging on Iran peace deal negotiations.

Brent crude futures for July and U.S. West Texas Intermediate futures for June advanced around 2% in early Asia trading.

Reuters reported Thursday, citing sources, that Iran's supreme leader ordered enriched uranium to remain in the country, potentially complicating the prospect for a resolution to the U.S.-Iran war.

Investors will closely monitor energy developments after the International Energy Agency's chief cautioned Thursday that the oil market could enter the "red zone" by July as inventories dwindle ahead of the peak summer travel season.

On the domestic policy front, Trump postponed signing an executive order on artificial intelligence, stating that he "didn't like certain aspects" and needs more time to review it.

The order was expected to empower the U.S. government to pre-evaluate AI models for security vulnerabilities, The New York Times reported Thursday, citing people familiar with the matter.

The delay comes as tech giants continue to pour massive investments into the AI industry, helping fuel dealmaking and market gains. 

CNBC confirmed Thursday that Microsoft is in talks to supply its custom AI chips to AI giant Anthropic, following Microsoft's $5 billion commitment to the company. 

— Dylan Butts