Dow Jones, S&P 500, Nasdaq: Falling oil prices support US stock exchanges - Wall Street closes in the plus.
After days of losses, Wall Street ends the week on a positive note. Inflation data in line with expectations make a rate hike more likely.
US stock markets closed higher on Friday, snapping a four-day losing streak, driven by declining oil prices. The Dow Jones index rose 1% to 52,573 points, while the S&P 500 gained almost 1% to 7,656 points and the Nasdaq Composite added 1% to 26,333 points. Oil prices had surged earlier in the night, with Brent crude reaching $110 per barrel, but later dropped to around $105 per barrel.
The situation in the Middle East remains tense, with the Huthi militia controlling Yemen's Red Sea coast, posing a risk to oil and gas tankers. The US inflation rate for August was 3.4%, in line with expectations, and is likely to lead to a US Federal Reserve interest rate hike next week.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
