Newscasts - Equities end higher as oil prices pull back on truce hopes
16/06/2025 23:35
Click the following link to watch video: https://share.newscasts.refinitiv.com/link?entryId=1_dpyj964o&referenceId=tag:reuters.com,2025:newsml_RW257316062025RP1_930&pageId=Newscasts Source: 'Reuters - Business videos' Description: U.S. stocks closed higher on Monday, as oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, easing investor concerns about the potential for higher energy prices to stoke inflation. Alex Cohen has more. Short Link: https://refini.tv/3Tfme2h Video Transcript: Stocks closed higher Monday, with the Dow adding 0.75%, the S&P 500 rising nearly 1%, and the NASDAQ climbing 1.5%. Oil prices retreated after the Israel-Iran attacks left crude production and exports unaffected, easing investor concerns about the potential for higher energy prices to stoke inflation. Crude prices settled down more than 1% on hopes a truce was on the horizon as Iran called on US President Donald Trump to force a ceasefire in the four-day-old aerial war. Oil prices had surged more than 7% on Friday after Israel began bombing Iran and stocks fell. Clark Geranen, Chief Market Strategist with CalBay Investments, talked about the shift. It is pretty incredible seeing this rebound after the turmoil that we saw at the end of the week. Our focal point has shifted so much this year from tariffs to the big, beautiful bill now to really focusing in on the geopolitical risk. So obviously, we saw the market react negatively on Friday after seeing the bombing of Israel and Iran. But there were talks over the weekend and hopefully we're thinking that we will be able to get past this in a positive light. So, it was nice to see the markets rebound today. Investors are also awaiting the US Federal Reserve's monetary policy decision on Wednesday, when policymakers are widely expected to keep interest rates unchanged. Stocks on the move included US Steel, which jumped 5% to a 14-year high after Trump-approved Nippon Steel's $14.9 billion bid for the company, and Roku surged more than 10% after announcing an advertising deal with Amazon.