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Stocks Settle Higher as Crude Oil Prices Stabilize
Barchart - Fri Aug 21, 3:39PM CDT
The S&P 500 Index ($SPX) (SPY) closed up by +0.43% on Friday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.98%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed up by +0.33%. E-mini S&P futures (ESU26) rose +0.37%, and September E-mini Nasdaq futures (NQU26) rose +0.27%.
Stock indices settled higher on Friday as crude oil prices stabilized, temporarily easing inflation concerns. Crude oil prices consolidated below Thursday’s 1-month high on Friday on comments from Iranian President Masoud Pezeshkian, who called for an end to the US-Iran war. Markets await Monday’s press conference, when US Treasury Secretary Bessent said the administration would give details on plans to isolate Iran’s economy.
Cryptocurrency-exposed stocks led gainers in the broader market on Friday as Bitcoin soared to a 3-month high. Bitcoin (^BTCUSD) rose more than +6% on Friday to a 3-month high and has rallied more than +20% this week. Institutional buying returned to support Bit... Read more
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