Stocks Soar as Crude Oil Prices Stabilize and Bitcoin Hits New High

The S&P 500 Index SPY is up by +0.37% today, while the Dow Jones Industrial Average DIA is up by +0.67%, and the Nasdaq 100 Index QQQ is up by +0.10%. E-mini S&P futures (ESU26) are up +0.30%, and September E-mini Nasdaq futures (NQU26) are up +0.13%.

Stock indices are moving higher as crude oil prices stabilize, temporarily easing inflation concerns. Crude oil prices consolidated below Thursday's 1-month high today on comments from Iranian President Masoud Pezeshkian, who said it would be better to end the war with dignity.

US Treasury Secretary Bessent is set to give details on plans to isolate Iran's economy in a press conference on Monday. The 10-year T-note yield is up +1 bp to 4.71%.