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The Economic Times
The Economic Times
Business

US stocks: US market rises as oil retreats; SpaceX spectrum deal hammers telecoms

SpaceX United States Oil Dow Nasdaq Dow Jones Industrial Average Middle East

US stocks gained on Friday as easing concerns about Middle East supply disruptions pulled oil prices lower. However, telecom companies fell sharply after SpaceX’s spectrum acquisition heightened competition across the wireless industry, Reuters reported.

Meanwhile, the Dow Jones Industrial Average rose 136.24 points, or 0.27%, to 51,367.88. The S&P 500 gained 25.23 points, or 0.32%, to 7,790.59, while the Nasdaq Composite added 130.99 points, or 0.48%, to 27,324.33.

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