The three major indices rose today.

The NASDAQ rose 79.18 points.

The DOW rose 353.51 points.

The S&P 500 rose 37.16 points.

Broad market sentiment appeared positive, with all three major indices closing higher. Hopes for a potential peace agreement between the U.S. and Iran significantly boosted investor confidence, leading to a notable drop in oil prices. The successful debut of SpaceX's initial public offering on the Nasdaq also fueled risk appetite across the market. Furthermore, AI-powered semiconductor stocks experienced a rebound after recent losses, contributing to the overall upward trend. Economic data showed improved U.S. consumer sentiment in June, partly due to easing gasoline prices. Sector performance saw strength in basic materials and consumer defensives, while communication services and energy sectors faced some weakness.

All this as Friedman Industries (FRD) shares rose $8.34 to end the day at $34.72 per share. Friedman Industries' significant price move occurred because the company announced robust fourth-quarter and fiscal year 2026 financial results after the market closed on Thursday, June 11. The Texas-based steel processor reported a sharp increase in earnings per share, with fourth-quarter net earnings of $9.2 million, or $1.30 diluted EPS, on sales of $191.8 million, a substantial rise from the prior year. Full-year fiscal 2026 also demonstrated strong performance, with $19.5 million in earnings, or $2.76 diluted EPS, on $646.9 million in sales, alongside record annual volume.

Friedman Industries expects these developments to strengthen its operating platform and expand its ability to serve customers across its markets. The company's flat-roll operations drove performance, benefiting from steady industrial activity and infrastructure spending across its customer base. Management also guided for sequential margin improvement in the first quarter of fiscal 2027, driven by higher average selling prices.