S&P 500 Heads for Best Week Since May
The S&P 500 edged higher on Friday (April 10) and is on track for a solid weekly gain, as markets continue to monitor the fragile two-week US-Iran ceasefire. The S&P 500 rose 0.2%, the Nasdaq gained 0.4%, while the Dow remained flat. Week-to-week, the S&P 500 gained about 4% (its best since May), the Dow rose more than 3%, and the Nasdaq nearly 5%.
Market focus remains on the Strait of Hormuz. President Donald Trump warned Iran against imposing fees on tankers passing through, while oil prices were limited: WTI held above $98/barrel and Brent above $96/barrel. Stock sentiment had been boosted the day before by Trump's two-week suspension of the strikes and comments from Israeli Prime Minister Benjamin Netanyahu that Israel was ready to negotiate with Lebanon "as soon as possible." However, Iranian Parliament Speaker Mohammad Bagher Ghalibaf again accused Israel's attacks in Lebanon of violating the agreement, keeping the market headline-driven.
Source: Newsmaker.id