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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 as energy prices retreated and eased investor concerns about inflation.
- Lower oil prices prompted the rally after Brent crude dropped below $98 per barrel, relieving pressure on Treasury yields that had briefly spiked above 5.22% earlier in the day.
- Costco Wholesale added 2.7% after reporting stronger quarterly profits than analysts expected, exemplifying how solid corporate earnings are sustaining market confidence despite broader economic headwinds.
- The S&P 500 gained 0.5% to close within 0.7% of its all-time high set last month, marking the first winning week in three as markets stabilize.
- Traders remain focused on the Strait of Hormuz as a potential flashpoint; any disruption to oil flows through this critical corridor could reignite volatility in energy and equity markets.
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The BladeReposted by 
Washington Times
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.
·Toledo, United States
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The Daily Advance+7 Reposted by 7 other sources
A reprieve from rising oil prices helps US stocks finish the week higher
A cooldown in oil prices 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. The S&P 500 added 0.5% Friday to pull within 0.7%…
Coverage Details
Total News Sources29
Leaning Left6Leaning Right5Center10Last UpdatedBias Distribution48% Center
Bias Distribution
- 48% of the sources are Center
48% Center
L 28%
C 48%
R 24%
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