Wall Street Stocks Rise as Oil Prices Fall Amid Escalating Tensions

Wall Street stocks rose on Friday as oil prices fell for the first time in a week due to heavy fighting in the Middle East that threatened to slow global oil flow.

The S&P 500 increased by 0.4%, while the Dow Jones Industrial Average climbed 265 points, or 0.5%. The Nasdaq, however, slipped 0.1% after several major tech stocks experienced sharp losses.

Micron Technology and Broadcom were among those that fell significantly, with shares declining 6.1% and 2.2%, respectively. Their market values tend to have a greater impact on the overall market.

The decrease in oil prices may provide temporary relief for energy markets. Brent crude dropped 4.3% to $96.34 per barrel after rising above $100 earlier this week. Before the Iran war began, it was trading around $72 per barrel.