Dow climbs more than 600 points amid renewed volatility
CNN
It's a strong start to the week on Wall Street, where the Dow has climbed more than 600 points amid a rebound from last week's losses.
The Dow (INDU) was up 1.8%, or some 610 points, mid-morning, while the broader S&P 500 (SPX) climbed nearly 1%. The Nasdaq Composite (COMP), which faced the steepest selloff Friday, continued to be the weakest index, rising only a modest 0.2%.
The market has been in a state of constant volatility since the new Omicron variant of the coronavirus was identified at the end of November.
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Every day brings a new complaint — or three — from the Trump administration about the American news media’s coverage of the Iran war.
Traffic through the strait, normally the conduit for a fifth of global oil output, has been severely curtailed since the start of the Iran conflict. But Iran itself is shipping oil through the waterway in almost the same volumes as before the war, earning the cash needed to sustain its economy and war effort.
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The price of oil rose to its highest level since July 2022 Sunday evening as the Trump administration suggested the war with Iran could last several more weeks and President Donald Trump called on the international community for help reopening the Strait of Hormuz to oil tankers.
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The worst global oil crisis in decades could become a major problem for the Federal Reserve, whose policymakers meet this week to determine the next moves for the US economy.
President Donald Trump’s attack dog atop the FCC, Brendan Carr, garnered lots of attention on Saturday for threatening the licenses of local broadcasters over news coverage he deemed to be “fake.”
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US economic growth was even weaker than previously reported at the end of last year heading into President Donald Trump’s war with Iran.
Part of the pitch for using AI at work goes like this: It’s like having a team of people to delegate your grunt work to, freeing you up to think strategically and maybe, just maybe, take a long lunch or head home early. Or maybe even be more productive, to make more money. It’s a nice idea!
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The efforts to mitigate an global oil shortage did little to dampen the rise in crude prices