Stocks
Dow Snaps Losing Streak as Oil Prices Fall
The US stock market has ended a volatile week on a positive note, with all three major indices - Dow, S&P 500, and Nasdaq - notching a weekly gain. The Dow Jones Industrial Average snapped a three-week losing streak to close at 51,828.62, up 0.93% or 478 points.
The rally was driven by hopes for progress in the Strait of Hormuz crisis, which had been fueling inflation fears and pushing bond yields to multi-decade highs. Oil prices also fell, with West Texas Intermediate crude slipping 2.3% to $92.41.
Microsoft shares led the pack, jumping over 3% on bullish expectations for Azure growth and AI monetization optimism. The tech giant's stock is now on pace for its highest close in more than 10 months.