US stock indexes soared on Friday after a possible thaw in the Iran war appeared on the horizon via a planned meeting of Gulf countries in Oman, which triggered a fall in oil prices even as higher August inflation boosted Fed rate hike bets.The Dow Jones Industrial Average rose 613.56 points, or 1.18%, to 52,677.66. The S&P 500 rose 68.67 points, or 0.90%, to 7,660.46, while the Nasdaq Composite rose 273.10 points, or 1.05%, to 26,354.82.Brent crude fell 3% to $104.35 a barrel after nearing $110 overnight, its highest price since May.(Disclaimer: This article is based on inputs from agencies. These do not represent the views of The Economic Times)
US stocks today: Dow Jones soars 600 pts, Nasdaq 1% as oil prices fall amid high August inflation
US stocks opened higher on Friday despite data showing consumer prices accelerated in August. The Dow Jones, S&P 500 and Nasdaq gained at the open, putting the major indexes on track to end a volatile week on a positive note as investors assessed the latest inflation data and its implications for Federal Reserve policy.
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