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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.
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ABC FOX Montana+18 Reposted by 18 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
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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
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Stocks Just Had Their Best Day Since Iran War Began
A drop in oil prices on Monday helped send the US stock market to its best day since the war in Iran began. The S&P 500 rose 67.19 points, or 1%, to 6,699.38 for its biggest gain in five weeks. The Dow Jones Industrial Average rose 387....
·Miami, United States
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Total News Sources121
Leaning Left24Leaning Right10Center55Last UpdatedBias Distribution62% Center
Bias Distribution
- 62% of the sources are Center
62% Center
L 27%
C 62%
11%
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