Wall Street jolts higher and recovers some war-caused losses after oil prices slow their spike
US stocks rebounded on Tuesday as oil prices slowed their spike due to the war with Iran, with the S&P 500 leaping 1.6% and the Dow Jones Industrial Average rising 555 points. The rebound came as steadying oil prices took some pressure off Wall Street, with the price for a barrel of Brent crude oil falling 0.3% to $107.10.
US stocks are higher after oil prices slowed their spike. The S&P 500 rose 1.6% and the Dow Jones Industrial Average was up 555 points. The rebound came as oil prices steadied, with Brent crude falling 0.3% to $107.10. The war with Iran has been dictating the US stock market's sharp swings, with oil prices shooting up from $70 to $119 per barrel. Analysts say optimism entered markets after a report said President Trump is willing to end the US military campaign against Iran. The slowdown in oil prices could revert to a spike if tankers can't get through the Strait of Hormuz easily. Tech stocks were the strongest force lifting the market, with Marvell Technology climbing 8.5% after Nvidia invested $2 billion in the company.
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