A Reprieve From Rising Oil Prices Helps US Stocks Rise Toward the Finish of a Winning Week
A drop in oil prices eased inflation worries and helped U.S. stocks extend gains into the end of the trading week.
- On Friday, the Dow Jones Industrial Average rose 478.64 points, or 0.9%, to 51,828.62, closing out the week's winning streak as energy prices retreated.
- Lower oil prices prompted the market rally by easing investor concerns about inflation and interest rates that had pressured yields earlier in the week.
- Costco Wholesale added 2.7% after the retailer reported stronger-than-expected quarterly profit, contributing to broad market strength despite consumer sentiment weakness.
- Investors welcomed energy market stabilization as the S&P 500 pulled within 0.7% of its all-time high set last month, signaling renewed confidence.
- Future market volatility hinges on the Strait of Hormuz, where Iranian Foreign Minister Abbas Araghchi said the waterway could reopen within seven days if the U.S. meets "certain conditions.
32 Articles
32 Articles
With a Break on Oil Prices, Indexes Close a Winning Week
A cooldown in oil prices on Friday helped release some of the pressure that's built up on Wall Street, and US stocks closed out their first winning week in the last three. The Dow rose 478.64 points, or 0.9%, to 51,828.62, ending the week 0.3%...
The hope for a gradual end to the Iran war gives the US stock exchange a tailwind. However, especially the AI fantasies of investors send the chip values on new high flights. An interest rate increase in October is now considered to have been determined with a probability of 64 percent.
The Blade
Washington TimesA reprieve from rising oil prices helps U.S. stocks finish the week higher
NEW YORK — A cooldown in oil prices on Friday helped release some of the pressure that’s built up on Wall Street, and U.S. stocks closed out their first winning week in the last three.
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