Oil prices rise and Wall
Photo: Richard Drew/AP/TT

Oil prices rise and Wall Street loses momentum

A new rise in the price of oil caused the buying spree on the New York Stock Exchange to turn into hesitation and anxiety - and price movements remained small.

At the close, the Dow Jones Industrial Average and the broad-based S&P 500 index rose 0.2 percent, while the tech-heavy Nasdaq Composite rose 0.1 percent.

The indices have performed strongly recently and have closed at record levels several times.

However, bombastic threats between the US and Iran have pushed oil prices higher after the failure this weekend to agree on a peace plan.

North Sea oil now costs $104.30 per barrel after a 2.9 percent rise on Monday.

Semiconductor companies Qualcomm and Micron offset concerns with gains of 8.4 and 6.5 percent, respectively. Industry peers Intel and Nvidia rose 3.6 and 2 percent, respectively.

In this story
AuthorTT News AgencyEnglish edition by Sweden Herald, adapted for our readers
Was this useful?

What do you think?

Keep readingmore from Business

All