Commodities
Stocks Rebound as Crude Oil Futures Hold Near $92
The US stock market rebounded sharply on September 3, reversing some of the previous day's losses caused by escalating tensions between the US and Iran. The Dow Jones Industrial Average rose 297.57 points to 53,359.52, while the Nasdaq Composite gained 233.80 points to 26,451.63.
The Philadelphia Semiconductor Index (SOX), however, bucked the trend and fell 176.75 points to 11,162.50.
Crude oil futures maintained their upward trajectory, trading at $92.13 per barrel in late morning, up $1.12 from the prior close. Gold futures also staged a sharp rebound, rising $110.40 to $4,525.00 per ounce.