Wall Street Rises as Brent Crude Falls Below $96/ Newslooks/ WASHINGTON/ J. Mansour/ U.S. stocks moved higher Friday as crude oil prices declined for the first time in a week and Treasury yields eased.
The S&P 500 and Dow advanced, but technology losses weighed on the Nasdaq and all three indexes remained on track for weekly declines. Investors continued monitoring the Iran war, new tariffs, inflation and the possibility of a Federal Reserve interest-rate increase.
Quick Look
- The S&P 500 rose 0.4%.
- The Dow gained 296 points, or 0.6%.
- The Nasdaq slipped 0.1%.
- Brent crude fell 4.7% to $95.98 per barrel.
- Oil had climbed above $100 on Thursday.
- Brent traded around $72 before the Iran war began.
- Micron Technology fell 5.3%.
- Broadcom declined 1.9%.
- The 10-year Treasury yield eased to 4.66%.
- Wall Street was heading toward a second consecutive losing week.
- New tariffs affect nearly all U.S. imports.
- Markets priced in a nearly 36% chance of a Fed rate increase next week.
- Regular gasoline averaged $4.10 per gallon nationally.
- American Express fell 5% despite reporting higher quarterly profit.
Deep Look
Stocks Gain but Remain Down for the Week
NEW YORK — U.S. stocks advanced Friday as declining oil prices and lower Treasury yields eased some pressure on financial markets.
The S&P 500 gained 0.4%. However, the index remained on course for its second consecutive weekly decline, something that had not occurred since March.
The Dow Jones Industrial Average rose 296 points, or 0.6%, as of 12:47 p.m. Eastern time.
The Nasdaq composite slipped 0.1% and was also heading toward a weekly loss.
Technology Stocks Weigh on Nasdaq
Sharp declines among several large technology companies prevented the Nasdaq from joining the broader market’s advance.
Micron Technology fell 5.3%, while Broadcom lost 1.9%.
Both semiconductor companies carry large market values, meaning their price movements have a greater influence on major indexes.
Their declines added to existing investor concerns about highly valued technology and artificial-intelligence stocks.
Iran War Creates Market Pressure
Wall Street was completing a week shaped by a sharp escalation in the U.S. war against Iran.
Intensified fighting in the Middle East has threatened global oil and natural gas supplies, particularly through the Strait of Hormuz.
Energy-market protections available earlier in the year have also weakened, including American strategic reserves.
“If escalation continues and the Strait of Hormuz remains closed, the impact will land on an energy market with far less resilience than in the spring,” Teddy Bunzel, head of geopolitical advisory at Lazard Asset Management, wrote in a report.
Brent Crude Falls Below $96
Brent crude, the international oil benchmark, dropped 4.7% to $95.98 per barrel.
The decline was its first in a week following several sessions of increases. Brent moved above $100 on Thursday before retreating Friday.
Oil traded at approximately $72 per barrel before the Iran war began in late February.
Despite Friday’s decline, current prices remain significantly above prewar levels and continue to place pressure on businesses and consumers.
Treasury Yields Ease
Bond yields declined alongside oil prices, reducing one source of pressure on stocks.
The yield on the 10-year U.S. Treasury fell to 4.66% from 4.71% late Thursday.
Higher yields can increase borrowing costs for mortgages, business loans and other forms of credit. They can also make bonds more attractive relative to stocks.
The retreat helped support the S&P 500 and Dow during Friday’s trading.
New Tariffs Add to Inflation Risk
The United States is expanding its global trade conflict through a new series of tariffs covering dozens of countries.
The measures affect nearly all American imports and took effect as Trump’s temporary tariffs expired Friday.
U.S. companies importing foreign products pay the tariffs. Those businesses often pass some or all of the additional expense to consumers through higher prices.
The tariffs replaced stopgap levies imposed after the Supreme Court rejected an earlier set of Trump’s import taxes.
Fed Watches Energy and Consumer Prices
Higher energy costs and new tariffs could accelerate inflation, which has already placed financial pressure on American households.
The Federal Reserve is closely monitoring prices before its policy meeting next week.
A renewed rise in inflation previously reduced expectations that the central bank would lower interest rates.
Wall Street has increasingly considered the possibility that the Fed could instead raise rates to restrain price growth.
Markets See Growing Chance of Rate Increase
Investors anticipate one Federal Reserve rate increase before the end of 2026.
Markets reflected a nearly 36% probability that the increase could occur at the upcoming meeting, according to CME FedWatch.
Higher interest rates can cool inflation by slowing borrowing and economic activity. They can also reduce stock valuations and make financing more expensive for households and businesses.
Gasoline Reaches $4.10 Nationally
The national average for regular gasoline reached $4.10 per gallon, according to AAA.
That remained below the peak recorded in the spring as the Iran conflict expanded, but it was almost $1 higher than during the same period in 2025.
Expensive gasoline can shift household spending toward essential transportation and away from restaurants, entertainment and other discretionary purchases.
That change could affect corporate earnings across several industries.
Corporate Profit Concerns Increase
Investors are examining whether companies can continue expanding their profits while fuel, tariff and borrowing costs rise.
Corporate earnings generally remained positive, but the market’s expectations are high because stock valuations have increased significantly.
American Express fell 5% despite reporting a rise in quarterly profit.
The company maintained its annual earnings forecast but has increased spending to retain affluent customers amid growing competition.
Investors Question AI Spending
Markets also remain concerned about the enormous sums technology companies are investing in artificial intelligence.
Alphabet, Nvidia and other major companies have spent heavily on chips, data centers and related infrastructure.
Investors increasingly want evidence that those investments will generate enough revenue, productivity and profit to justify elevated stock prices.
Because AI-related companies have played a major role in driving the market higher, doubts about their spending can create volatility across the broader indexes.
Global Markets Finish Mixed
European stock markets gained ground Friday.
Asian indexes closed lower after investors evaluated the same combination of oil prices, geopolitical risks, trade tensions and interest-rate uncertainty.
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