"The S&P 500 rose 0.6% in midday trading and is on track to claw back most of its loss since the war with Iran began. The Dow Jones Industrial Average was up 237 points, or 0.5%, as of 11:15 a.m. Eastern time, and the Nasdaq composite was 1.1% higher."
"One report said growth for U.S. businesses in the real estate, financial and other services industries accelerated last month at the fastest pace since the summer of 2022. Encouragingly for inflation, it also said prices for such businesses are increasing at a slower rate, at least before the war with Iran began."
"Oil prices moderated as trading moved westward from Seoul and the rest of Asia to Europe. After briefly topping $84 per barrel, the price for a barrel of Brent crude, the international standard, eased back to $81.49, a 0.1% rise."
The U.S. stock market recovered from two days of volatile trading as oil prices moderated and positive economic data emerged. The S&P 500 rose 0.6%, the Dow gained 237 points, and the Nasdaq climbed 1.1% in midday trading. Oil prices eased after briefly reaching $84 per barrel, with Brent crude settling at $81.49. Economic reports indicated accelerated growth in real estate, financial, and services sectors at the fastest pace since summer 2022, with prices increasing at a slower rate. Additionally, private employers showed increased hiring activity, suggesting strength in the broader job market ahead of Friday's comprehensive employment report.
Read at Fast Company
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