Stocks Surge on Oil Price Drop, Iran Conflict
Bakersfield News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. stocks surged, with the S&P 500, Dow, and Nasdaq all gaining, as oil prices plummeted amid the Iran conflict. The S&P 500 closed at 6,699, the Dow at 46,946, and the Nasdaq at 22,374. Oil prices dropped after earlier spikes, with U.S. crude falling to $93.50 and Brent crude to $102.21. Investors remain optimistic, drawing on history where markets rebound quickly from Middle East conflicts if oil stays in check. Several stocks led the charge, including airlines, cruise lines, and tech companies, on lower fuel costs and solid earnings. Bond yields dipped as inflation fears eased, with the ten-year Treasury falling to 4.22%. Overseas markets also rose, though traders now doubt quick Federal Reserve rate cuts due to war-driven oil swings.
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