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Barchart
Barchart
Rich Asplund

Stock Indexes Supported by Weak Crude Oil Prices

The S&P 500 Index ($SPX) (SPY) today is up +0.13%, the Dow Jones Industrial Average ($DOWI) (DIA) is up +0.20%, and the Nasdaq 100 Index ($IUXX) (QQQ) is up +0.08%. September E-mini S&P futures (ESU26) are up +0.16%, and September E-mini Nasdaq futures (NQU26) are up +0.09%.

Stock indexes are moving higher today with the S&P 500 posting a 3-week high. Whipsawing crude oil prices today are leading to volatile stock moves. Stocks turned higher today after crude prices fell when President Trump said the US would continue peace talks with Iran but that US officials told Iran that the ceasefire is “over.” Easing geopolitical tensions also boosted stocks, following an American official who said talks between the US and Iran over a permanent peace deal are continuing, as the US remains committed to a diplomatic solution with Iran.

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