Stocks Rise Amid Economic Surprise as Oil Whipsaws | Closing Bell

Описание: Watch comprehensive cross-platform coverage of the U.S. market close on Bloomberg Television, Bloomberg Radio, and YouTube with Romaine Bostick, Katie Greifeld, Carol Massar and Tim Stenovec.

A report underscoring economic resilience and cooling inflationary pressures drove stocks higher at a time when the war in the Middle East clouds the growth outlook. Bitcoin topped $73,000. Oil whipsawed.

Equities rose as data showed the US service economy expanded at the fastest pace since mid-2022 while a price index hit an almost one-year low. A megacap rally lifted the market, with the Nasdaq 100 up 1.5%. In late hours, Broadcom Inc.’s outlook underwhelmed investors, but the firm announced plans to buy back as much as $10 billion in shares through the end 2026. 

President Donald Trump expressed confidence in the military campaign against Iran even as the timeline for operations remained unclear. Tehran targeted Israel and Gulf states while Israeli and American forces followed through on pledges to bomb targets in the Islamic Republic. The US sank an Iranian warship in international waters.

The S&P 500 climbed 0.8%. The dollar slipped 0.3%. The yield on 10-year Treasuries rose three basis points to 4.09%. Crude settled near $75 a barrel.
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