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While Saudi Arabia isn't likely to follow through with what many saw as a veiled threat to pressure the energy market if the West imposes sanctions against Riyadh, analysts aren't ruling that scenario out.
Following the worst couple of days on Wall Street since February, stocks staged a recovery on Friday amid signs inflationary pressures remain in check despite a humming economy, and as earnings season kicked off with strong postings from major banks.
Wall Street opened below key levels Thursday but found some relief from tamer-than-expected inflation data, a day after worries about rising rates and trade tensions sparked a sharp sell-off in global markets.
Oil prices rallied to near four-year highs Wednesday, erasing earlier losses as markets weighed the largest rise in US crude inventories this year against looming oil sanctions against Iran.
Stocks were mostly higher Wednesday as markets turned attention away from trade-war fears and toward upbeat economic data. The dollar slipped, and Treasury yields jumped.
Stocks sink after report says Trump could follow through with tariffs on $200 billion worth Chinese imports to the US
Stocks fell sharply Thursday after Bloomberg reported the Trump administration could follow through with tariffs on roughly $200 billion worth of Chinese imports as soon as the public comment period next week.
Strong economic data and optimism for easing global trade tensions powered the S&P 500 and Nasdaq Composite to touch record highs for a fourth straight session Wednesday. The dollar fell, and Treasury yields inched higher.
Stocks closed mixed Wednesday even as the S&P 500 hit its 3,453rd day without a major correction, marking the longest bull market in history. Strong earnings reports were unable to calm nerves surrounding a one-two legal punch to the White House that implicated President Donald Trump.
Saudi Arabia has reportedly called off plans to take its state-owned oil giant public in what would have been the largest initial public offering in history.
Stocks fell Wednesday after a Chinese technology giant Tencent reported a rare profit decline. Technology and energy companies took the biggest hits following the disappointing earnings report, which stoked fears of slowing growth. The dollar rose, and Treasury yields fell.