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U.S. stocks climb to their best day since the Iran war began after oil prices ease

NEW YORK (AP) — A drop in oil prices on Monday helped send the U.S. stock market to its best day since the war in Iran began. The S&P 500 climbed 1% for its biggest gain in five weeks. The Dow Jones Industrial Average added 387 points, or 0.8%, and the Nasdaq composite jumped 1.2%. The driver for markets once again was the price of oil. A barrel of benchmark U.S. crude fell 5.3% to settle at $93.50, easing some pressure off the economy after topping $102 earlier in the morning. Brent crude, the international standard, fell 2.8% to $100.21 per barrel after earlier getting as high as ...

Cracks emerged in a resilient U.S. before war in Iran sent oil prices rocketing

WASHINGTON (AP) — The highly resilient U.S. economy was already showing signs of strain even before the launch of the Iran war, data released Friday showed, underscoring the risks that rising gasoline and energy prices may pose. The economy barely grew in the final three months of last year, the Commerce Department said, as it cut its estimate of fourth-quarter growth in half. Consumer spending, after adjusting for inflation, was anemic in January, as inflation remained sticky-high. Hiring has also ground largely to a standstill. And Americans’ outlook for the economy tumbled after ...

Oil jumps to $100 per barrel and stocks sink worldwide with no clear end in sight for the Iran war

NEW YORK (AP) — With no clear end in sight, the war with Iran sent oil prices back to $100 per barrel on Thursday, and stocks sank worldwide. The S&P 500 fell 1.5% and resumed its sharp swings following a couple days of relative calm. The Dow Jones Industrial Average dropped 739 points, or 1.6%, and the Nasdaq composite lost 1.8%. The center of action was again the oil market, where the price of a barrel of Brent crude, the international standard, climbed 9.2% to settle at $100.46. Worries are worsening that the war could block the production of oil in the Persian Gulf for a long ...

U.S. stock market remains calm, even as oil prices rise

NEW YORK (AP) — The U.S. stock market remained calm Wednesday, even as the price of oil got back to rising. The S&P 500 edged down 0.1% for a second day of modest moves following what had been a wild stretch caused by the war with Iran. The Dow Jones Industrial Average dropped 289 points, or 0.6%, and the Nasdaq composite rose 0.1%. Since the start of the war, sharp moves for oil prices have triggered swings up and down for financial markets worldwide, sometimes by the hour. Oil prices briefly spiked to their highest levels since 2022 this week because of the possibility that ...

U.S. stocks hold steadier as Wall Street waits for the next signal on how long war with Iran may last

NEW YORK (AP) — The U.S. stock market held steadier Tuesday as Wall Street waited for the next signal on when the war with Iran may end. The S&P 500 dipped 0.2%, a day after its latest wild swings caused by extreme moves in the oil market. The Dow Jones Industrial Average fell 34 points, or 0.1%, and the Nasdaq composite edged higher by less than 0.1%. Oil prices, meanwhile, remained sharply below their peaks hit on Monday. Such spikes have been rocking financial markets worldwide because of worries that the war could block the global flow of oil and natural gas for a long ...