Oil Prices Dip, Stocks Edge Up Amid Iran Conflict Uncertainty

Stocks edged up on Friday as crude oil prices fell for the first time in a week, but Wall Street is still heading for its second consecutive weekly loss. The S&P 500 rose 0.5%, with the Dow Jones Industrial Average increasing by 351 points or 0.7%.

The Nasdaq lagged behind, rising only 0.1%, held back by sharp losses from big stocks like Micron Technology and Broadcom. Both of these companies have large market values that tend to weigh more heavily on the market.

Wall Street is closing out a week marked by increasing pressure from a sharp escalation in the U.S. war with Iran, which has threatened to slow global oil and gas flows. The Strait of Hormuz remains closed, and buffers that cushioned markets earlier this year have been weakened.