Oil Prices Fall Back, Stocks Stabilize Amid Caution Over Tariffs and Iran Tensions

Stocks have stabilized after yesterday's sharp sell-off, thanks in part to falling oil prices. The S&P 500 Index is up 0.11%, while the Dow Jones Industrial Average and Nasdaq 100 Index are also seeing gains. However, caution prevails as President Trump announced a new round of tariffs that could prove inflationary.

The new tariffs, which range from 10% to 12.5% on 60 nations, were announced under Section 301 of the Trade Act of 1974. The tariffs exclude key items such as fuel, foods, fertilizer, and products covered by the North American trade agreement with Mexico and Canada.

Oil prices fell back after Thursday's rally, with Sep WTI crude oil prices down more than -2% today. Meanwhile, software stocks are showing strength, rebounding higher after Thursday's losses.