Commodities
Stocks Rise as Crude Oil Prices Stabilize Amid US-Iran Tensions
The S&P 500 Index SPY rose by +0.43% on Friday, while the Dow Jones Industrial Average DIA gained +0.98%, and the Nasdaq 100 Index QQQ increased by +0.33%. Crude oil prices stabilized, easing inflation concerns.
US Treasury Secretary Bessent said the administration will reveal plans to isolate Iran's economy at a press conference on Monday. President Trump threatened economic isolation for countries allowing financial support to Iran, causing crude prices to soar to a 1-month high on Thursday.
Cryptocurrency-exposed stocks led gainers in the broader market as Bitcoin S reached a 3-month high. However, gains were limited due to Iranian President Masoud Pezeshkian's comments calling for an end to the US-Iran war.