Wall Street Rallies as Brent Crude Retreats After Trump Calls Off Iran Strike Threat
Updated
Updated · The Associated Press · Jun 13
Wall Street Rallies as Brent Crude Retreats After Trump Calls Off Iran Strike Threat
3 articles · Updated · The Associated Press · Jun 13
Summary
U.S. stocks rose this week, with the S&P 500 and Dow gaining while the Nasdaq composite slipped, as falling oil prices eased pressure on investors.
Brent crude extended its weekly decline after President Donald Trump on Thursday withdrew his threat to strike Iran and said a potential deal with Tehran may be near.
That pullback in energy prices offered relief after inflation hit 4.2% in May and producer prices jumped 6.5%, both driven largely by earlier war-related fuel costs.
Gas prices have already fallen this month, suggesting that if tensions keep easing and oil stays lower, headline inflation could begin to cool.