Oil Prices Fall for First Time in Week as Stocks Waver on Wall Street

Stocks on Wall Street closed out the week in a mixed state, as oil prices fell for the first time in a week. The S&P 500 index barely budged, rising by just 3.68 points or less than 0.1% to 7,411.98.

The Dow Jones Industrial Average had a stronger day, increasing by 235.60 points or 0.5% to 51,947.25. In contrast, the Nasdaq fell by 161.87 points or 0.6% to 24,975.82.

Several major tech stocks weighed down the market, including Micron Technology and Broadcom, which fell by 7% and 2.7%, respectively. These companies have large market values that tend to influence the overall market.

The Iran conflict continues to be a concern for Wall Street, with heavy fighting in the Middle East threatening to slow the global flow of oil and gas. The Strait of Hormuz remains closed, which has weakened buffers in the energy market from earlier this year.