Wall Street Stocks Waver Amid Iran War Tensions and Rising Oil Prices
The stock market on Wall Street closed in a mixed fashion on Friday as oil prices fell for the first time in a week. The S&P 500 index barely budged, rising just 3.68 points to 7,411.98, but marking its second consecutive losing week since March.
The Dow Jones Industrial Average rose by 235.60 points to 51,947.25, while the Nasdaq fell by 161.87 points to 24,975.82 due in part to sharp losses from big tech stocks like Micron Technology and Broadcom.
Investors are dealing with increased pressure from a sharp escalation in the U.S.-Iran war, new tariffs from the Trump administration, and concerns over inflation weighing on the economy.
The latest round of corporate earnings showed companies still notching growth, but worries about profit sustainability are growing. American Express fell 4.3% despite reporting a jump in profit during its most recent quarter.