On Thursday, the S&P 500 and Nasdaq Composite both increased by 0.2%, while the Dow Jones Industrial Average gained 365 points, or 0.7%, as a rally in oil and Treasury yields reversed.
Oil prices, which had initially risen due to reports of Iran’s supreme leader instructing to keep enriched uranium within the country, subsequently declined.
West Texas Intermediate futures fell 2% to around $96 per barrel, and Brent crude also dropped 2% to approximately $102 per barrel.
The market’s positive move was driven by hopes for a resolution to the Middle East conflict, despite geopolitical tensions adding some uncertainty.
Source (CNBC)
