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Barchart
Barchart
Rich Asplund

Stocks Settle Higher as Crude Prices Fall on US-Iran Deal Hopes

The S&P 500 Index ($SPX) (SPY) closed up by +0.51% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.93%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up +0.42%. December E-mini S&P futures (ESZ26) rose +0.47%, and December E-mini Nasdaq futures (NQZ26) rose +0.39%.

Stock indexes settled higher on Friday amid a slide in crude oil prices. WTI crude oil tumbled more than -2% on Friday on hopes for diplomacy to end the US-Iran war that would reopen the Strait of Hormuz. Also, strength in chipmakers and AI stocks on Friday supported stocks amid optimism over AI and demand for AI infrastructure.

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