Markets Gain on Oil Relief
Wall Street Rises as Tech Gains and Lower Oil Prices Ease Market Volatility
Anonymous
U.S. stocks rose Friday, with technology shares—led by Microsoft after it announced new Copilot AI features—helping lift the S&P 500 and Nasdaq. Investors also welcomed lower oil prices and signs of progress toward reopening the Strait of Hormuz, after Iran offered to resume nuclear talks and reopen the waterway under conditions that include an end to the U.S. naval blockade and sanctions relief. Treasury yields eased, relieving some pressure after a sharp bond sell-off, though borrowing costs remained elevated and continued to worry investors. The gains capped a volatile week shaped by uncertainty over AI’s effects on industries and the economic risks of the U.S.-Iran conflict.
Key Points
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Akamai Technologies rose 6% after announcing an $11.6 billion cloud-services deal with Anthropic that includes a warrant potentially giving Anthropic up to 5% of Akamai.
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Economic data offered mixed signals: August durable-goods orders growth stalled but beat expectations, while September consumer sentiment was revised up to 48.1 from 47.8, still below August’s 51.7.
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Brent crude fell below $100 a barrel, to $98.83, while U.S. crude declined to $92.97; both remained well above their late-February levels before the war began.
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The 10-year Treasury yield had reached its highest level since 2007 before easing slightly to about 5.18% on Friday, and was up 40 basis points since September.
Sentiment
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