Stock Market Update
31-Oct-24 15:05 ET
Oil prices jump in response to Iran retaliation news
Dow -218.48
at 41923.06,
Nasdaq -453.79
at 18154.14,
S&P -85.95
at 5727.72
[BRIEFING.COM] The major indices moved mostly sideways in recent trading.
Oil prices jumped after news that Iran is preparing a major retaliatory strike against Israel from Iraqi territory, according to Axios. WTI crude oil futures are 2.7% higher at $70.44/bbl. Brent crude oil futures are 1.4% higher at $73.89/bbl.
Oil prices were already elevated in front of the report, turning higher in response. This price action has boosted the S&P 500 energy sector, which sports a 1.1% gain.
