A reprieve from rising oil prices helps U.S. stocks finish the week higher
A cooldown in oil prices helped release some of the pressure that's built up on Wall Street, and U.S. stocks closed out their first winning week in the last three. The S&P 500 added 0.5% Friday to pull within 0.7% of its all-time high set last month. The Dow Jones Industrial Average rose 0.9%, and the Nasdaq composite climbed 0.5%. Stocks got a boost after the price of a barrel of Brent oil dropped below $98. That helped Treasury yields ease shortly after the 10-year yield briefly jumped near its highest level since 2007.
TL;DR
- U.S. stocks finished their first winning week in three, influenced by cooling oil prices.
- The S&P 500 rose 0.5% on Friday, nearing its all-time high.
- The Dow Jones Industrial Average increased by 0.9%, and the Nasdaq composite climbed 0.5%.
- A drop in Brent oil prices below $98 per barrel provided a boost to stocks.
- Treasury yields eased following the drop in oil prices and a brief jump in the 10-year yield.