Oil Prices Fall as Tensions Between US and Iran Continue to Weigh on Markets

Wall Street stocks wavered on Friday, but managed to end the day with some gains despite overall losses for the week. The S&P 500 index remained mostly unchanged, while the Dow Jones Industrial Average rose by 167 points or 0.3%. However, both indexes are on track to post weekly losses.

The Nasdaq fell by 0.6%, weighed down by significant losses from tech heavyweights Micron Technology and Nvidia. The two companies' market values significantly impact the broader market.

The decline in stocks is attributed to rising tensions between the US and Iran, which has led to increased pressure on energy markets. Brent crude oil prices fell 4.2% to $96.51 per barrel, a decrease from its earlier rise above $100 this week.

The Fed is closely monitoring inflation rates, which have been increasing due to rising energy costs. The central bank's interest rate policy may be influenced by these developments. Markets in Europe gained ground on Friday, while Asian markets closed lower.