US Stock Market This Week: S&P 500, Nasdaq Close at Records as Oil Tumbles Before Big Earnings Week
U.S. stocks closed at record highs Friday, with the S&P 500 and Nasdaq logging their third straight records as oil prices plunged and hopes rose for a U.S.-Iran deal. Brent crude fell 9% to $90.38 a barrel after Iran said ships could pass the Strait of Hormuz, but by Saturday Iran tightened control and ships reported gunfire. The Dow jumped 868.71 points to 49,447.43. Energy stocks lagged as travel and consumer shares surged.