Stocks waver and oil prices hold steady ahead of talks

Stocks wavered on Wall Street and oil prices held steady amid the shaky ceasefire agreement between the U.S. and Iran.

The S&P 500 fell 0.1% in afternoon trading Friday, but is still heading for a second consecutive winning week. The Dow Jones Industrial Average fell 289 points, or 0.6%, as of 1:13 p.m. Eastern. The Nasdaq composite rose 0.2%.

Major indexes have been gaining ground over the last two weeks amid optimism that the war with Iran could be heading toward a resolution. The S&P 500 has erased most of its losses from March and is just 2.3% short of its all-time high set in January. The market is still prone to big swings on developments around the war.

Brent crude oil, the international standard, has gone from roughly $70 per barrel before the war in late February to more than $119 at times. Brent rose 1.1% to $96.98 Friday.