Commodities
US-Iran Tensions Weigh on Oil Prices, Boosting Stocks
Oil prices continued their downward trend on Tuesday, falling by 2.8% to $87.99 per barrel of Brent crude. This drop came despite increased tensions between the US and Iran following new sanctions announced by the Trump administration.
The decline in oil prices helped ease worries about high inflation that had driven Treasury yields higher through the summer. The yield on the 10-year Treasury fell to 4.66% from 4.74% at the end of last week, a significant move for the bond market.
On Wall Street, the S&P 500 rose 0.4%, pulling closer to its all-time high set earlier this month. The Dow Jones Industrial Average was up 65 points, or 0.1%, and the Nasdaq composite was 0.7% higher.