US EditionPublished • loading... • Updated
Falling oil prices send Wall Street toward its best day since the Iran war began
Falling Brent and U.S. crude prices eased inflation concerns, driving the S&P 500 up 1.2% in its best day since conflict began, lifting fuel-heavy companies.
- The S&P 500 jumped 1.2% on Monday as benchmark U.S. crude fell 4% to $94.75, driving a broad rally across U.S. markets and easing recent inflation fears.
- Iran effectively halted traffic through the Strait of Hormuz, where a fifth of the world's oil sails, prompting producers to cut output and fueling earlier market volatility.
- Fuel-Sensitive stocks like Norwegian Cruise Line Holdings climbed 4.8% and United Airlines gained 4.2%, while the 10-year Treasury yield fell to 4.22% following a weak New York manufacturing report.
- President Donald Trump demanded other nations "take care of that passage" regarding the Strait, while traders see virtually no chance the Federal Reserve cuts rates this Wednesday.
- The U.S. stock market has a track record of bouncing back relatively quickly from Middle East conflicts, though the S&P 500 remains about 4% below its all-time high.
Insights by Ground AI
Podcasts & Opinions
123 Articles
123 Articles
ABC FOX Montana+19 Reposted by 19 other sources
Stocks extend gains and oil dips as US, Israel, Iran continue strikes
Asian markets mostly rose Wednesday and oil prices dipped following another tech-led advance on Wall Street, as the United States hit Iranian missile sites near the key Strait of Hormuz and Tehran struck crude-producing Gulf neighbours.
·Missoula, United States
Read Full Article
Helena Independent Record+3 Reposted by 3 other sources
US stocks climb after oil prices ease
NEW YORK — A drop in oil prices on Monday helped send the U.S. stock market to its best day since the war in Iran began.
·Helena, United States
Read Full Article
Coverage Details
Total News Sources123
Leaning Left25Leaning Right10Center57Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 27%
C 62%
11%
Factuality
To view factuality data please Upgrade to Premium
