DOW sees modest gains as oil prices ease

Geopolitical tensions had pushed Brent oil to its highest level since May before a correction

The US stocks witnessed stable moves on Friday as crude oil pulled back from seven-week highs. The Dow Jones Industrial Average rose 235.60 points, or 0.46%, to 51947.25. The S&P 500 gained 3.69 points, or 0.05%, to 7411.98, while the Nasdaq Composite eased 161.87 points, or 0.64%, to 24975.82. According to preliminary data, there were 1639 advancing issues and 1052 declining issues on the NYSE. Brent crude fell about 3.9% to around $96.78 a barrel, pulling back after Thursdays surge past $100. Traders also locked in profits after a week of sharp gains, even as President Trump told Axios he was considering an attack on Iran that would be bigger than ever before. The retreat eased pressure on bond yields, which had jumped sharply this week as surging energy prices revived inflation fears.

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