Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
Editorials & Other Articles
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
Mission accomplished!
Oil prices tumble, and Wall Street nears its record in a worldwide rally for stockshttps://www.wbay.com/2025/06/24/oil-prices-tumble-wall-street-nears-its-record-worldwide-rally-stocks/
NEW YORK (AP) — Oil prices are dropping further, and U.S. stocks are pulling closer to their all-time high Tuesday on hopes that Israel’s war with Iran will not damage the global flow of crude, even if a tentative truce seemed to fray under fire in the morning.
The S&P 500 was 0.9% higher in morning trading, following up on even bigger gains for stocks across Europe and Asia, after President Donald Trump said late Monday that Israel and Iran had agreed to a “complete and total ceasefire.” The main measure of Wall Street’s health is back within 1.1% of its record set in February after falling roughly 20% below during the spring.
The Dow Jones Industrial Average was up 352 points, or 0.8%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was 1.2% higher.
The strongest action was again in the oil market, where a barrel of benchmark U.S. crude fell 4.4% to $65.52. Brent crude, the international standard, dropped 5% to $66.96.
...
The S&P 500 was 0.9% higher in morning trading, following up on even bigger gains for stocks across Europe and Asia, after President Donald Trump said late Monday that Israel and Iran had agreed to a “complete and total ceasefire.” The main measure of Wall Street’s health is back within 1.1% of its record set in February after falling roughly 20% below during the spring.
The Dow Jones Industrial Average was up 352 points, or 0.8%, as of 10:45 a.m. Eastern time, and the Nasdaq composite was 1.2% higher.
The strongest action was again in the oil market, where a barrel of benchmark U.S. crude fell 4.4% to $65.52. Brent crude, the international standard, dropped 5% to $66.96.
...