Wall Street Rises Amid Trump's Sanction Threats on Russian Oil

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Wall Street Rises Amid Trump's Sanction Threats on Russian Oil
Photo: Alastair Grant/AP/TT

Energy companies and technology giants were among the winners on the stock exchange in the USA since President Donald Trump announced harsh sanctions against the Russian oil industry.

The price of crude oil rose sharply on Thursday, the day after Trump's statement. And British Petroleum rose 3.6 percent while Exxon Mobil went up 1.1 percent.

Several of the companies called "the magnificent seven" also rose. Tesla, whose share initially fell back after the electric car giant's interim report the day before, recovered and closed with a plus of 2.3 percent. The semiconductor company Nvidia and the e-commerce giant Amazon rose 1.0 and 1.4 percent, respectively.

Among the losers was IBM, despite the IT company reporting higher profit and sales than expected in its quarterly report. The share lost 0.9 percent.

The New York Stock Exchange's broad S&P 500 index rose 0.6 percent, the Dow Jones industrial index rose 0.3 percent and the Nasdaq's technology-heavy composite index went up 0.9 percent.

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By TTEnglish edition by Sweden Herald, adapted for our readers

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