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Stocks recorded strong gains this week, led by a rally in technology shares as the signing of a peace deal between the United States and Iran pushed oil prices lower and helped calm fears of interest rate hikes.
For the week, the Dow Jones Industrial Average gained 1.41 percent to close at 51,564. The S&P 500 closed 1.44 percent higher to 7,500, below the high reached earlier in the week. The Nasdaq Composite fared much better, up by 2.74 percent, while the Russell 2000 gained 2.01 percent.
The Chicago Board Options Exchange Volatility Index closed the week at 16.40, down by 15.64 percent.
Stocks opened the shortened week sharply higher on June 15 amid lower oil prices, after the United States and Iran reached an agreement on the previous day to end the conflict in the Middle East and reopen the Strait of Hormuz by the end of the week. West Texas Intermediate crude plunged more than 5 percent to around $80 per barrel, close to a two-month low, paving the way for the easing of inflationary pressures that cast a veil of uncertainty over the United States and the global economies. …
For the week, the Dow Jones Industrial Average gained 1.41 percent to close at 51,564. The S&P 500 closed 1.44 percent higher to 7,500, below the high reached earlier in the week. The Nasdaq Composite fared much better, up by 2.74 percent, while the Russell 2000 gained 2.01 percent.
The Chicago Board Options Exchange Volatility Index closed the week at 16.40, down by 15.64 percent.
Stocks opened the shortened week sharply higher on June 15 amid lower oil prices, after the United States and Iran reached an agreement on the previous day to end the conflict in the Middle East and reopen the Strait of Hormuz by the end of the week. West Texas Intermediate crude plunged more than 5 percent to around $80 per barrel, close to a two-month low, paving the way for the easing of inflationary pressures that cast a veil of uncertainty over the United States and the global economies. …
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