U.S. Stocks Surge as Oil Prices Retreat Amid Middle East Tensions
U.S. stock indexes surged on Monday as oil prices fell, relieving investor concerns over Middle East tensions. The Dow, S&P 500, and Nasdaq recorded gains as traders anticipated the Federal Reserve's upcoming policy meeting. Iran seeks a truce with Israel, easing fears of crude supply disruptions.
U.S. stock markets rallied on Monday, driven by a significant drop in oil prices amid geopolitical tensions in the Middle East. Investors were reassured as reports indicated that crude production remained unaffected by the recent Israel-Iran conflict.
The positive sentiment led the Dow Jones Industrial Average to climb 0.97%, the S&P 500 to rise 1.11%, and the Nasdaq Composite to increase by 1.55%. Investor attention shifted toward the Federal Reserve's expected monetary policy decision on Wednesday.
Meanwhile, Tehran has reportedly urged Middle Eastern allies to mediate with President Trump to secure a ceasefire with Israel. The anticipation of a truce eased market fears about potential disruptions in crude oil supply from the region.
(With inputs from agencies.)
ALSO READ
ONGC's downstream gains to cushion impact of lower oil prices: S&P Global Ratings
55th Watch and Jewellery Middle East Show concludes with 87000 visitors
Wall Street drifts higher as oil prices jump and US manufacturing slumps
Relief for households as edible oil prices set to dip after import duty cut
Bisleri International Ventures into Middle East and Africa with Apparel Group Partnership
Google News