Wall Street bounces back on cooling oil prices, geopolitical tensions
Big day for US stocks: Dow Jones shot up 575 points (1.2%), with the S&P 500 and Nasdaq also rising over 1%.
This bounce comes after a rough week, all thanks to oil prices finally cooling off and some shifts in global politics.
Oil prices drop significantly
Oil took a dive: US crude fell nearly 4% below $95, and Brent dropped to about $101. The dip happened after the US let Iranian oil tankers pass through a key shipping route, easing some recent tensions.
Tech stocks like Meta and NVIDIA also saw solid gains, with NVIDIA getting extra buzz ahead of its big GTC conference.
Trump urges NATO allies to support US
President Trump called on NATO allies to back US moves aimed at calming things down in the region, especially around protecting shipping lanes.
The market's upbeat mood seems tied to these diplomatic efforts and lower energy costs.