Commodities
US Stocks Hold Near Records as Oil Prices Rise Amid Hormuz Uncertainty
The US stock market is hovering near record highs, despite uncertainty surrounding oil prices. The Strait of Hormuz, through which a significant portion of global crude oil flows, has been shut down due to tensions between the United States and Iran.
As a result, oil prices have risen, with some analysts warning that this could impact economic growth. However, US stocks seem to be shrugging off these concerns for now.
The S&P 500 index closed at 4,420 on Friday, just shy of its all-time high of 4,429.